Magnetar Financial LLC Grows Holdings in Boise Cascade, L.L.C. $BCC

Magnetar Financial LLC lifted its stake in Boise Cascade, L.L.C. (NYSE:BCC) by 266.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 61,938 shares of the construction company’s stock after purchasing an additional 45,041 shares during the quarter. Magnetar Financial LLC’s holdings in Boise Cascade were worth $4,789,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BCC. Norges Bank acquired a new stake in Boise Cascade in the 2nd quarter valued at approximately $39,818,000. Bank of America Corp DE raised its position in Boise Cascade by 76.5% in the second quarter. Bank of America Corp DE now owns 417,642 shares of the construction company’s stock valued at $36,260,000 after purchasing an additional 181,025 shares during the period. Barclays PLC lifted its stake in Boise Cascade by 128.8% during the third quarter. Barclays PLC now owns 298,197 shares of the construction company’s stock worth $23,057,000 after purchasing an additional 167,880 shares in the last quarter. Westwood Holdings Group Inc. boosted its position in shares of Boise Cascade by 9.7% during the second quarter. Westwood Holdings Group Inc. now owns 1,645,026 shares of the construction company’s stock worth $142,821,000 after buying an additional 145,721 shares during the period. Finally, Royce & Associates LP purchased a new position in shares of Boise Cascade during the third quarter worth $8,072,000. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Stock Performance

NYSE:BCC opened at $71.81 on Thursday. Boise Cascade, L.L.C. has a 52 week low of $65.14 and a 52 week high of $103.44. The company has a fifty day simple moving average of $82.39 and a two-hundred day simple moving average of $78.32. 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 company has a market cap of $2.56 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 1.00 and a beta of 1.26.

Boise Cascade Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Monday, February 23rd will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, February 23rd. Boise Cascade’s payout ratio is presently 25.00%.

Wall Street Analysts Forecast Growth

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

Boise Cascade Profile

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.