Barclays PLC Boosts Stake in Boise Cascade (NYSE:BCC)

Barclays PLC increased its position in Boise Cascade (NYSE:BCC) by 5.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,895 shares of the construction company’s stock after purchasing an additional 4,529 shares during the period. Barclays PLC owned approximately 0.25% of Boise Cascade worth $11,280,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Invst LLC increased its position in Boise Cascade by 2.6% during the third quarter. Invst LLC now owns 5,060 shares of the construction company’s stock valued at $713,000 after acquiring an additional 128 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Boise Cascade by 4.2% in the 4th quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company’s stock worth $388,000 after purchasing an additional 133 shares during the period. Principal Securities Inc. lifted its holdings in shares of Boise Cascade by 44.2% in the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock worth $56,000 after acquiring an additional 145 shares during the last quarter. Bridge City Capital LLC raised its position in Boise Cascade by 0.9% in the 4th quarter. Bridge City Capital LLC now owns 21,528 shares of the construction company’s stock worth $2,559,000 after purchasing an additional 192 shares during the period. Finally, R Squared Ltd bought a new stake in shares of Boise Cascade during the 4th quarter worth approximately $29,000. Institutional investors own 96.18% of the company’s stock.

Boise Cascade Price Performance

Shares of NYSE BCC opened at $90.96 on Tuesday. 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’s 50 day simple moving average is $101.09 and its 200-day simple moving average is $121.97. Boise Cascade has a 12 month low of $87.84 and a 12 month high of $155.42. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of 9.51 and a beta of 1.52.

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

Boise Cascade Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.92%. The ex-dividend date was Monday, February 24th. Boise Cascade’s payout ratio is currently 8.79%.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Benchmark reissued a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. DA Davidson decreased their price target 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. The Goldman Sachs Group dropped their target price on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Truist Financial dropped 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 report on Monday, February 24th. Finally, Loop Capital reduced their price objective on Boise Cascade from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $127.67.

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.