Mackenzie Financial Corp Has $958,000 Stake in Boise Cascade (NYSE:BCC)

Mackenzie Financial Corp lifted its position in shares of Boise Cascade (NYSE:BCC) by 8.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,405 shares of the construction company’s stock after purchasing an additional 577 shares during the quarter. Mackenzie Financial Corp’s holdings in Boise Cascade were worth $958,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. New York State Teachers Retirement System raised its position in shares of Boise Cascade by 0.4% during the fourth quarter. New York State Teachers Retirement System now owns 30,844 shares of the construction company’s stock worth $3,990,000 after purchasing an additional 108 shares during the period. Arizona State Retirement System raised its position in shares of Boise Cascade by 1.3% during the third quarter. Arizona State Retirement System now owns 11,272 shares of the construction company’s stock worth $1,161,000 after purchasing an additional 145 shares during the period. Hexagon Capital Partners LLC raised its position in shares of Boise Cascade by 76.0% during the third quarter. Hexagon Capital Partners LLC now owns 433 shares of the construction company’s stock worth $45,000 after purchasing an additional 187 shares during the period. Global Retirement Partners LLC raised its position in shares of Boise Cascade by 1,147.1% during the fourth quarter. Global Retirement Partners LLC now owns 212 shares of the construction company’s stock worth $28,000 after purchasing an additional 195 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Boise Cascade by 58.1% during the fourth quarter. Blue Trust Inc. now owns 544 shares of the construction company’s stock worth $70,000 after purchasing an additional 200 shares during the period. 96.18% of the stock is owned by institutional investors and hedge funds.

Boise Cascade Trading Up 0.9 %

Shares of Boise Cascade stock opened at $138.46 on Friday. Boise Cascade has a 1 year low of $64.39 and a 1 year high of $154.67. The firm has a market cap of $5.48 billion, a PE ratio of 11.03 and a beta of 1.60. The stock has a fifty day moving average price of $139.98 and a 200-day moving average price of $125.26. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.46 and a quick ratio of 2.26.

Boise Cascade (NYSE:BCC) last announced its earnings results on Wednesday, February 21st. The construction company reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($0.01). Boise Cascade had a net margin of 7.07% and a return on equity of 21.94%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the prior year, the business earned $2.95 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities research analysts anticipate that Boise Cascade will post 11.5 EPS for the current year.

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 23rd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Thursday, February 22nd. Boise Cascade’s dividend payout ratio is presently 6.60%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. The Goldman Sachs Group increased their price target on Boise Cascade from $114.00 to $129.00 and gave the company a “neutral” rating in a research report on Thursday, January 11th. Finally, Truist Financial increased their price target on Boise Cascade from $156.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $125.00.

Insider Activity

In other news, EVP Dean Michael Brown sold 11,117 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $139.09, for a total transaction of $1,546,263.53. Following the completion of the sale, the executive vice president now directly owns 40,237 shares of the company’s stock, valued at approximately $5,596,564.33. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 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.