Shares of Boise Cascade Co (NYSE:BCC) have been assigned an average rating of “Hold” from the nine analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $41.20.
BCC has been the subject of several research analyst reports. Zacks Investment Research downgraded Boise Cascade from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Bank of America boosted their target price on Boise Cascade from $44.00 to $46.00 and gave the stock a “hold” rating in a research note on Wednesday, January 24th. ValuEngine raised Boise Cascade from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, BMO Capital Markets reissued a “hold” rating and set a $36.00 target price on shares of Boise Cascade in a research note on Thursday, January 25th.
Several institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of Boise Cascade by 4.2% in the third quarter. Dimensional Fund Advisors LP now owns 2,953,666 shares of the construction company’s stock valued at $103,084,000 after buying an additional 120,365 shares during the period. Macquarie Group Ltd. increased its stake in shares of Boise Cascade by 1.5% in the fourth quarter. Macquarie Group Ltd. now owns 1,116,356 shares of the construction company’s stock valued at $44,542,000 after buying an additional 16,902 shares during the period. Peregrine Capital Management LLC increased its stake in shares of Boise Cascade by 3.5% in the third quarter. Peregrine Capital Management LLC now owns 1,109,988 shares of the construction company’s stock valued at $38,739,000 after buying an additional 37,778 shares during the period. State Street Corp increased its stake in shares of Boise Cascade by 4.0% in the second quarter. State Street Corp now owns 909,705 shares of the construction company’s stock valued at $27,654,000 after buying an additional 34,986 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Boise Cascade by 154.6% in the fourth quarter. Millennium Management LLC now owns 845,634 shares of the construction company’s stock valued at $33,741,000 after buying an additional 513,555 shares during the period. 99.90% of the stock is owned by institutional investors.
The company also recently disclosed a Not Available dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be paid a $0.07 dividend. This represents a dividend yield of 0.00170109356014581%. The ex-dividend date is Wednesday, February 28th. Boise Cascade’s dividend payout ratio is currently 4.00%.
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About Boise Cascade
Boise Cascade Company is an integrated wood products manufacturer and building materials distributor with operations throughout the United States and one manufacturing facility in Canada. The Company is also a producer of engineered wood products (EWP) and plywood in North America. The Company operates through three segments: Wood Products, Building Materials Distribution, and Corporate and Other.
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