Boise Cascade, L.L.C. (NYSE:BCC) Given Average Rating of “Moderate Buy” by Analysts

Boise Cascade, L.L.C. (NYSE:BCC) has received an average rating of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $101.8333.

Several equities analysts recently weighed in on BCC shares. Truist Financial increased their price objective on shares of Boise Cascade from $88.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Weiss Ratings upgraded Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 28th. DA Davidson restated a “buy” rating and issued a $95.00 price objective on shares of Boise Cascade in a report on Thursday, November 20th. Wall Street Zen cut Boise Cascade from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Boise Cascade in a report on Thursday, January 8th.

Boise Cascade Stock Down 0.6%

Shares of BCC opened at $85.58 on Thursday. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 16.91 and a beta of 1.27. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.69 and a current ratio of 3.10. The business’s fifty day moving average price is $81.06 and its two-hundred day moving average price is $78.91. Boise Cascade has a 52 week low of $65.14 and a 52 week high of $121.00.

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Monday, February 23rd will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Monday, February 23rd. Boise Cascade’s dividend payout ratio (DPR) is currently 17.39%.

Hedge Funds Weigh In On Boise Cascade

A number of institutional investors have recently modified their holdings of the business. Mercer Global Advisors Inc. ADV raised its position in Boise Cascade by 2.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 33,481 shares of the construction company’s stock valued at $2,464,000 after purchasing an additional 934 shares during the last quarter. XTX Topco Ltd bought a new position in Boise Cascade during the 4th quarter worth $4,029,000. Concentric Capital Strategies LP lifted its stake in shares of Boise Cascade by 202.0% in the fourth quarter. Concentric Capital Strategies LP now owns 425,179 shares of the construction company’s stock worth $31,293,000 after acquiring an additional 284,406 shares during the period. Balyasny Asset Management L.P. lifted its position in shares of Boise Cascade by 12.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 68,888 shares of the construction company’s stock worth $5,070,000 after purchasing an additional 7,433 shares during the period. Finally, Guggenheim Capital LLC bought a new stake in shares of Boise Cascade in the 4th quarter valued at $404,000. Institutional investors and hedge funds own 96.18% of the company’s stock.

About Boise Cascade

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company’s operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.