Proficio Capital Partners LLC Acquires New Stake in Boise Cascade (NYSE:BCC)

Proficio Capital Partners LLC 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 & Exchange Commission. The institutional investor bought 28,051 shares of the construction company’s stock, valued at approximately $3,334,000. Proficio Capital Partners LLC owned 0.07% of Boise Cascade as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. R Squared Ltd bought a new position in Boise Cascade in the 4th quarter worth $29,000. Larson Financial Group LLC increased its position in Boise Cascade by 23.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock worth $53,000 after buying an additional 73 shares in the last quarter. Principal Securities Inc. raised its stake in shares of Boise Cascade by 44.2% in the fourth quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock worth $56,000 after buying an additional 145 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Boise Cascade by 254.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company’s stock valued at $92,000 after buying an additional 558 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Boise Cascade by 19.0% during the 3rd quarter. KBC Group NV now owns 1,226 shares of the construction company’s stock valued at $173,000 after acquiring an additional 196 shares during the period. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Stock Down 0.5 %

BCC opened at $99.46 on Wednesday. The company has a market capitalization of $3.77 billion, a PE ratio of 10.40 and a beta of 1.67. The firm has a 50-day simple moving average of $115.76 and a two-hundred day simple moving average of $128.78. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22. Boise Cascade has a 52 week low of $95.33 and a 52 week high of $155.42.

Boise Cascade (NYSE:BCC) last released its quarterly 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 for the quarter, compared to analysts’ expectations of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. Analysts forecast that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, February 24th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Monday, February 24th. Boise Cascade’s payout ratio is 8.79%.

Insider Buying and Selling at Boise Cascade

In related news, Director Kristopher J. Matula sold 553 shares of the 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. This represents a 4.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Jeffrey Robert Strom sold 4,500 shares of the firm’s 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 completion of the sale, the chief operating officer now 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. 0.98% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. DA Davidson decreased their target price on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. BMO Capital Markets lowered their target price 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. The Goldman Sachs Group cut their price target on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Benchmark restated a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. Finally, Truist Financial cut their target price on Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a research report on Monday, February 24th. One equities research 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $128.50.

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.