Boise Cascade (NYSE:BCC) Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC lifted its stake in shares of Boise Cascade (NYSE:BCC) by 139.1% during the fourth quarter, Holdings Channel reports. The firm owned 4,507 shares of the construction company’s stock after purchasing an additional 2,622 shares during the quarter. HighTower Advisors LLC’s holdings in Boise Cascade were worth $536,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BCC. R Squared Ltd acquired a new stake in shares of Boise Cascade during the fourth quarter worth approximately $29,000. Larson Financial Group LLC lifted its position in Boise Cascade by 23.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock worth $53,000 after acquiring an additional 73 shares during the last quarter. Principal Securities Inc. grew its holdings in Boise Cascade by 44.2% in the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock valued at $56,000 after buying an additional 145 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Boise Cascade by 254.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company’s stock valued at $92,000 after purchasing an additional 558 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of Boise Cascade by 234.2% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,270 shares of the construction company’s stock valued at $179,000 after buying an additional 890 shares during the period. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BCC. Loop Capital dropped their price objective on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, February 24th. DA Davidson lowered their price objective on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Truist Financial reduced their target price on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Benchmark reiterated a “hold” rating on shares of Boise Cascade in a report on Tuesday, February 25th. Finally, The Goldman Sachs Group reduced their price target on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $128.50.

Boise Cascade Stock Down 2.1 %

Shares of Boise Cascade stock opened at $98.28 on Friday. The firm has a market cap of $3.73 billion, a PE ratio of 10.28 and a beta of 1.67. Boise Cascade has a 52-week low of $95.33 and a 52-week high of $155.42. The business’s 50 day simple moving average is $112.29 and its 200 day simple moving average is $127.36. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.01). The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. On average, analysts predict that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th were given a $0.21 dividend. The ex-dividend date was Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.85%. Boise Cascade’s payout ratio is 8.79%.

Insiders Place Their Bets

In related news, COO Jeffrey Robert Strom sold 4,500 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total value of $450,945.00. Following the completion of the transaction, the chief operating officer now owns 38,026 shares of the company’s stock, valued at $3,810,585.46. The trade was a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kristopher J. Matula sold 553 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total transaction of $57,047.48. Following the sale, the director now owns 13,099 shares in the company, valued at $1,351,292.84. This represents a 4.05 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.98% of the company’s stock.

Boise Cascade Profile

Boise Cascade Company engages in manufacture of wood products and distribution of building materials in the United States and Canada. It operates through two segments, Wood Products and Building Materials Distribution. The Wood Products segment manufactures laminated veneer lumber and laminated beams used in headers and beams; I-joists for residential and commercial flooring and roofing systems, and other structural applications; structural, appearance, and industrial plywood panels; and ponderosa pine shop lumber and appearance grade boards.