Cibc World Markets Corp Buys New Stake in Boise Cascade (NYSE:BCC)

Cibc World Markets Corp bought a new stake in Boise Cascade (NYSE:BCC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,645 shares of the construction company’s stock, valued at approximately $433,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Corient Private Wealth LLC grew its stake in Boise Cascade by 19.3% during the fourth quarter. Corient Private Wealth LLC now owns 1,915 shares of the construction company’s stock worth $236,000 after buying an additional 310 shares during the last quarter. Natixis Advisors LLC bought a new stake in Boise Cascade during the fourth quarter worth about $1,265,000. United Capital Management of KS Inc. grew its stake in Boise Cascade by 1.6% during the fourth quarter. United Capital Management of KS Inc. now owns 29,428 shares of the construction company’s stock worth $3,498,000 after buying an additional 452 shares during the last quarter. HighTower Advisors LLC grew its stake in Boise Cascade by 139.1% during the fourth quarter. HighTower Advisors LLC now owns 4,507 shares of the construction company’s stock worth $536,000 after buying an additional 2,622 shares during the last quarter. Finally, Moran Wealth Management LLC grew its stake in Boise Cascade by 47.9% during the fourth quarter. Moran Wealth Management LLC now owns 39,420 shares of the construction company’s stock worth $4,685,000 after buying an additional 12,773 shares during the last quarter. Institutional investors own 96.18% of the company’s stock.

Insiders Place Their Bets

In related news, COO Jeffrey Robert Strom sold 4,500 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total transaction of $450,945.00. Following the sale, the chief operating officer now directly owns 38,026 shares in the company, valued at $3,810,585.46. This trade represents a 10.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kristopher J. Matula sold 553 shares of the firm’s stock in a transaction 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 approximately $1,351,292.84. The trade was a 4.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.98% of the company’s stock.

Boise Cascade Trading Down 1.0 %

Shares of NYSE BCC opened at $99.46 on Monday. The company’s 50 day simple moving average is $114.75 and its 200 day simple moving average is $128.17. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92. The firm has a market capitalization of $3.77 billion, a P/E ratio of 10.40 and a beta of 1.67. Boise Cascade has a fifty-two week low of $95.33 and a fifty-two week high of $155.42.

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

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th were issued a $0.21 dividend. The ex-dividend date was Monday, February 24th. This represents a $0.84 annualized dividend and a yield of 0.84%. Boise Cascade’s dividend payout ratio (DPR) is presently 8.79%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. BMO Capital Markets decreased their price objective on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 25th. Loop Capital decreased their price target on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. The Goldman Sachs Group decreased 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 note on Tuesday, January 14th. Benchmark reissued a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Finally, Truist Financial cut their price objective on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a report on Monday, February 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $128.50.

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.