Boise Cascade (NYSE:BCC) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets boosted its position in Boise Cascade (NYSE:BCC) by 47.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,578 shares of the construction company’s stock after buying an additional 9,862 shares during the quarter. BNP Paribas Financial Markets owned 0.08% of Boise Cascade worth $3,635,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of BCC. Norges Bank bought a new stake in shares of Boise Cascade in the 4th quarter worth about $55,680,000. First Trust Advisors LP increased its position in shares of Boise Cascade by 37.9% in the 4th quarter. First Trust Advisors LP now owns 712,527 shares of the construction company’s stock worth $84,691,000 after purchasing an additional 195,773 shares during the last quarter. American Century Companies Inc. increased its position in shares of Boise Cascade by 12.0% in the 4th quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock worth $134,831,000 after purchasing an additional 121,790 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Boise Cascade by 322.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 109,770 shares of the construction company’s stock worth $13,048,000 after purchasing an additional 83,776 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Boise Cascade by 17.8% in the 4th quarter. Northern Trust Corp now owns 483,165 shares of the construction company’s stock worth $57,429,000 after purchasing an additional 73,061 shares during the last quarter. Institutional investors own 96.18% of the company’s stock.

Insider Transactions at Boise Cascade

In related news, Director Kristopher J. Matula sold 553 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total transaction of $57,047.48. Following the completion of the sale, the director now directly owns 13,099 shares of the company’s stock, 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 the SEC website. Also, COO Jeffrey Robert Strom sold 4,500 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $3,810,585.46. This represents a 10.58% 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 2.6%

Shares of NYSE:BCC opened at $91.26 on Thursday. The company has a 50 day moving average of $95.50 and a 200-day moving average of $116.65. The firm has a market cap of $3.43 billion, a P/E ratio of 9.55 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 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 issued its quarterly earnings results on Monday, May 5th. The construction company reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.30). The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. The company’s revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.61 earnings per share. As a group, analysts anticipate that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Monday, June 2nd. Boise Cascade’s dividend payout ratio is currently 10.49%.

Analyst Upgrades and Downgrades

BCC has been the subject of a number of recent research reports. Loop Capital lowered their price objective on shares of Boise Cascade from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Benchmark restated a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. Truist Financial decreased their target price on shares of Boise Cascade from $134.00 to $118.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. DA Davidson decreased their target price 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. Finally, BMO Capital Markets decreased their target price 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target 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.