Cynosure Group LLC Buys New Shares in Boise Cascade (NYSE:BCC)

Cynosure Group LLC purchased a new position in shares of Boise Cascade (NYSE:BCC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,598 shares of the construction company’s stock, valued at approximately $366,000.

A number of other large investors also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. purchased a new position in shares of Boise Cascade in the 3rd quarter worth $28,000. Larson Financial Group LLC purchased a new position in shares of Boise Cascade in the 2nd quarter worth about $36,000. iA Global Asset Management Inc. purchased a new position in shares of Boise Cascade in the 1st quarter worth about $82,000. CWM LLC grew its holdings in shares of Boise Cascade by 26.5% during the 3rd quarter. CWM LLC now owns 673 shares of the construction company’s stock worth $95,000 after purchasing an additional 141 shares during the period. Finally, Covestor Ltd grew its holdings in shares of Boise Cascade by 50.1% during the 3rd quarter. Covestor Ltd now owns 689 shares of the construction company’s stock worth $97,000 after purchasing an additional 230 shares during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Stock Performance

NYSE:BCC opened at $146.40 on Friday. The firm has a 50-day moving average of $140.21 and a two-hundred day moving average of $133.31. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.13 and a quick ratio of 1.90. The stock has a market cap of $5.62 billion, a P/E ratio of 14.32 and a beta of 1.53. Boise Cascade has a 1-year low of $106.38 and a 1-year high of $155.42.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Monday, November 4th. The construction company reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the business earned $3.58 EPS. Boise Cascade’s revenue for the quarter was down 6.6% compared to the same quarter last year. On average, research analysts expect that Boise Cascade will post 9.57 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.57%. Boise Cascade’s dividend payout ratio (DPR) is presently 8.22%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BCC shares. Truist Financial lifted their price target on shares of Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Bank of America lifted their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a report on Thursday, September 12th. Loop Capital started coverage on Boise Cascade in a report on Friday, November 1st. They issued a “buy” rating and a $155.00 price target for the company. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, BMO Capital Markets increased their target price on Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $139.60.

Boise Cascade Profile

Boise Cascade Company engages in manufacture of wood products and distribution of building materials in the United States and Canada. It operates through two segments, Wood Products and Building Materials Distribution. The Wood Products segment manufactures laminated veneer lumber and laminated beams used in headers and beams; I-joists for residential and commercial flooring and roofing systems, and other structural applications; structural, appearance, and industrial plywood panels; and ponderosa pine shop lumber and appearance grade boards.