Raymond James Financial Inc. Purchases New Shares in Boise Cascade (NYSE:BCC)

Raymond James Financial Inc. acquired a new position in Boise Cascade (NYSE:BCC) in the fourth quarter, Holdings Channel reports. The fund acquired 13,472 shares of the construction company’s stock, valued at approximately $1,601,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. grew its holdings in shares of Boise Cascade by 4.2% in the fourth quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company’s stock valued at $388,000 after acquiring an additional 133 shares in the last quarter. Principal Securities Inc. grew its stake 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 purchasing an additional 145 shares during the period. Bridge City Capital LLC increased its position in shares of Boise Cascade by 0.9% during the 4th quarter. Bridge City Capital LLC now owns 21,528 shares of the construction company’s stock valued at $2,559,000 after purchasing an additional 192 shares during the last quarter. R Squared Ltd bought a new stake in shares of Boise Cascade during the 4th quarter worth $29,000. Finally, Unison Advisors LLC boosted its holdings in shares of Boise Cascade by 3.6% in the 4th quarter. Unison Advisors LLC now owns 7,443 shares of the construction company’s stock worth $885,000 after buying an additional 261 shares during the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Trading Up 3.6 %

Shares of BCC stock opened at $96.05 on Friday. Boise Cascade has a 1 year low of $87.84 and a 1 year high of $155.42. The company’s fifty day simple moving average is $97.32 and its two-hundred day simple moving average is $119.30. 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 stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 10.05 and a beta of 1.52.

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

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd will be given a $0.21 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.87%. Boise Cascade’s dividend payout ratio (DPR) is currently 8.79%.

Insider Activity at Boise Cascade

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 transaction of $450,945.00. Following the completion of the transaction, the chief operating officer now directly owns 38,026 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kristopher J. Matula sold 553 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were 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 approximately $1,351,292.84. The trade was a 4.05 % decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BCC has been the subject of a number of research analyst reports. The Goldman Sachs Group decreased their price objective on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. BMO Capital Markets lowered their price target on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a report on Tuesday, February 25th. DA Davidson dropped their price objective on Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Loop Capital decreased their target price on Boise Cascade from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Truist Financial dropped their price target on Boise Cascade from $134.00 to $118.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $125.00.

Boise Cascade Company 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.