Boise Cascade (NYSE:BCC) Shares Bought by Two Sigma Advisers LP

Two Sigma Advisers LP raised its position in shares of Boise Cascade (NYSE:BCC) by 22.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,200 shares of the construction company’s stock after buying an additional 4,300 shares during the period. Two Sigma Advisers LP’s holdings in Boise Cascade were worth $2,758,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. D.A. Davidson & CO. lifted its stake in Boise Cascade by 4.2% during the 4th quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company’s stock worth $388,000 after acquiring an additional 133 shares in the last quarter. Barclays PLC increased its stake in Boise Cascade by 174.1% during the third quarter. Barclays PLC now owns 90,366 shares of the construction company’s stock worth $12,739,000 after purchasing an additional 57,403 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Boise Cascade by 3.0% during the fourth quarter. Bank of New York Mellon Corp now owns 446,350 shares of the construction company’s stock worth $53,053,000 after purchasing an additional 12,963 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Boise Cascade by 19.4% in the fourth quarter. Handelsbanken Fonder AB now owns 8,000 shares of the construction company’s stock valued at $951,000 after purchasing an additional 1,300 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of Boise Cascade by 2.6% in the fourth quarter. Principal Financial Group Inc. now owns 208,323 shares of the construction company’s stock valued at $24,761,000 after purchasing an additional 5,281 shares in the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Benchmark reiterated a “hold” rating on shares of Boise Cascade in a report on Tuesday, February 25th. Truist Financial cut their price target on Boise Cascade from $134.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. BMO Capital Markets decreased their price objective on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a research report on Tuesday, February 25th. Loop Capital dropped their target price on Boise Cascade from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, DA Davidson cut their price target 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $125.00.

Boise Cascade Price Performance

Shares of NYSE BCC opened at $89.53 on Wednesday. The stock has a market cap of $3.37 billion, a P/E ratio of 9.37 and a beta of 1.43. Boise Cascade has a twelve month low of $84.53 and a twelve month high of $155.42. The stock has a 50 day moving average of $93.70 and a two-hundred day moving average of $113.51. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Monday, May 5th. The construction company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.30). The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.61 EPS. On average, research analysts forecast that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd will be issued 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 0.94%. Boise Cascade’s payout ratio is 10.49%.

Insider Transactions at Boise Cascade

In other Boise Cascade news, COO Jeffrey Robert Strom sold 4,500 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total value of $450,945.00. Following the transaction, the chief operating officer now directly owns 38,026 shares of the company’s stock, valued at approximately $3,810,585.46. The trade was a 10.58% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.98% of the company’s stock.

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.