Boise Cascade, L.L.C. $BCC Shares Acquired by Barclays PLC

Key Points

• Barclays PLC boosted its stake in Boise Cascade by 128.8% in Q3 to 298,197 shares (about 0.81% of the company), valued at $23.06 million.
• Boise Cascade declared a quarterly dividend of $0.22 per share (annualized $0.88, ~1.2% yield) with an ex-dividend date of Feb 23 and payment on Mar 18.
• Analysts are broadly positive: the stock has an average rating of "Moderate Buy" with an average price target of $105.67 (five Buys, two Holds).

Barclays PLC raised its stake in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 128.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 298,197 shares of the construction company's stock after purchasing an additional 167,880 shares during the quarter. Barclays PLC owned 0.81% of Boise Cascade worth $23,057,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Salomon & Ludwin LLC acquired a new stake in Boise Cascade in the third quarter valued at $28,000. Hantz Financial Services Inc. grew its stake in Boise Cascade by 1,071.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 492 shares of the construction company's stock valued at $38,000 after acquiring an additional 450 shares during the last quarter. CWM LLC grew its holdings in Boise Cascade by 30.6% during the 3rd quarter. CWM LLC now owns 747 shares of the construction company's stock valued at $58,000 after buying an additional 175 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Boise Cascade by 160.5% during the third quarter. Versant Capital Management Inc now owns 883 shares of the construction company's stock valued at $68,000 after acquiring an additional 544 shares during the last quarter. Finally, Covestor Ltd raised its holdings in Boise Cascade by 110.0% in the 3rd quarter. Covestor Ltd now owns 991 shares of the construction company's stock valued at $76,000 after acquiring an additional 519 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company's stock.

Boise Cascade Stock Performance

Shares of BCC opened at $71.81 on Thursday. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 1.00 and a beta of 1.26. The company has a quick ratio of 1.74, a current ratio of 3.36 and a debt-to-equity ratio of 0.22. The business's 50 day moving average is $82.39 and its two-hundred day moving average is $78.32. Boise Cascade, L.L.C. has a 52-week low of $65.14 and a 52-week high of $103.44.

Boise Cascade Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Monday, February 23rd will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, February 23rd. Boise Cascade's dividend payout ratio (DPR) is 25.00%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BCC shares. BMO Capital Markets reiterated an "outperform" rating on shares of Boise Cascade in a report on Thursday, January 8th. Wall Street Zen upgraded Boise Cascade from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. DA Davidson reaffirmed a "buy" rating and issued a $95.00 price objective on shares of Boise Cascade in a research note on Tuesday, February 24th. The Goldman Sachs Group boosted their target price on Boise Cascade from $85.00 to $94.00 and gave the stock a "neutral" rating in a report on Wednesday, February 25th. Finally, Truist Financial increased their price target on Boise Cascade from $92.00 to $103.00 and gave the company a "buy" rating in a report on Wednesday, February 25th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $105.67.

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.

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