New York Life Investment Management LLC Sells 936 Shares of Boise Cascade (NYSE:BCC)

New York Life Investment Management LLC lessened its holdings in shares of Boise Cascade (NYSE:BCC) by 14.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,724 shares of the construction company’s stock after selling 936 shares during the quarter. New York Life Investment Management LLC’s holdings in Boise Cascade were worth $740,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Global Retirement Partners LLC raised its holdings in shares of Boise Cascade by 1,147.1% during the 4th quarter. Global Retirement Partners LLC now owns 212 shares of the construction company’s stock valued at $28,000 after purchasing an additional 195 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Boise Cascade by 58.1% in the fourth quarter. Blue Trust Inc. now owns 544 shares of the construction company’s stock worth $70,000 after buying an additional 200 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Boise Cascade during the 4th quarter worth about $80,000. Hexagon Capital Partners LLC boosted its stake in shares of Boise Cascade by 71.6% during the 4th quarter. Hexagon Capital Partners LLC now owns 743 shares of the construction company’s stock worth $96,000 after acquiring an additional 310 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. increased its holdings in shares of Boise Cascade by 4,706.9% during the 3rd quarter. C M Bidwell & Associates Ltd. now owns 1,394 shares of the construction company’s stock valued at $144,000 after acquiring an additional 1,365 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Boise Cascade Stock Performance

NYSE BCC opened at $133.23 on Thursday. The company’s fifty day moving average is $140.31 and its two-hundred day moving average is $128.08. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of 10.83 and a beta of 1.64. 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 has a 52-week low of $71.50 and a 52-week high of $154.67.

Boise Cascade (NYSE:BCC) last released its earnings results on Monday, May 6th. The construction company reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.31. Boise Cascade had a return on equity of 21.94% and a net margin of 7.07%. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period last year, the business earned $2.43 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities research analysts forecast that Boise Cascade will post 11.44 EPS for the current year.

Boise Cascade Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.60%. Boise Cascade’s payout ratio is 6.50%.

Analysts Set New Price Targets

BCC has been the subject of several recent analyst reports. Truist Financial upped their price objective on shares of Boise Cascade from $156.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. StockNews.com raised Boise Cascade from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, The Goldman Sachs Group increased their target price on Boise Cascade from $114.00 to $129.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $125.00.

Insider Buying and Selling

In other Boise Cascade news, EVP Dean Michael Brown sold 11,117 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $139.09, for a total value of $1,546,263.53. Following the sale, the executive vice president now 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 Securities & Exchange Commission, which is available at this link. 1.05% of the stock is owned by company insiders.

About Boise Cascade

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.