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

Boise Cascade, L.L.C. (NYSE:BCC) has been assigned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $101.8333.

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

Boise Cascade Trading Down 0.6%

NYSE:BCC opened at $85.58 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.10 and a quick ratio of 1.69. The firm has a 50-day moving average of $81.06 and a 200-day moving average of $78.91. Boise Cascade has a one year low of $65.14 and a one year high of $121.00. The company has a market cap of $3.17 billion, a PE ratio of 16.91 and a beta of 1.27.

Boise Cascade Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Monday, February 23rd will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, February 23rd. Boise Cascade’s dividend payout ratio is 17.39%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Boise Cascade during the fourth quarter valued at about $42,146,000. Wellington Management Group LLP increased its position in Boise Cascade by 19.8% in the third quarter. Wellington Management Group LLP now owns 3,268,407 shares of the construction company’s stock worth $252,713,000 after purchasing an additional 539,962 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Boise Cascade by 214,282.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 420,189 shares of the construction company’s stock valued at $30,926,000 after purchasing an additional 419,993 shares during the period. Concentric Capital Strategies LP lifted its position in 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 buying an additional 284,406 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of Boise Cascade by 377.6% during the third quarter. Two Sigma Investments LP now owns 292,556 shares of the construction company’s stock valued at $22,620,000 after buying an additional 231,302 shares during the period. 96.18% of the stock is currently owned by institutional investors.

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.