Boise Cascade (NYSE:BCC) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC increased its holdings in shares of Boise Cascade (NYSE:BCC) by 139.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,507 shares of the construction company’s stock after purchasing an additional 2,622 shares during the period. HighTower Advisors LLC’s holdings in Boise Cascade were worth $536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Moran Wealth Management LLC increased its holdings in Boise Cascade by 47.9% in the 4th quarter. Moran Wealth Management LLC now owns 39,420 shares of the construction company’s stock worth $4,685,000 after acquiring an additional 12,773 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Boise Cascade by 20.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,277 shares of the construction company’s stock worth $1,340,000 after purchasing an additional 1,947 shares during the last quarter. Amundi boosted its position in shares of Boise Cascade by 100.0% during the 4th quarter. Amundi now owns 22,101 shares of the construction company’s stock worth $2,595,000 after purchasing an additional 11,052 shares during the period. Raymond James Financial Inc. acquired a new position in Boise Cascade during the 4th quarter worth about $1,601,000. Finally, Proficio Capital Partners LLC purchased a new stake in Boise Cascade during the 4th quarter worth approximately $3,334,000. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BCC. Benchmark restated a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. BMO Capital Markets lowered their price target on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a report on Tuesday, February 25th. Truist Financial cut their price target on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a report on Monday, February 24th. The Goldman Sachs Group reduced their price objective on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Finally, DA Davidson lowered their price objective 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. 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 company has an average rating of “Hold” and an average target price of $128.50.

Insider Buying and Selling at Boise Cascade

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of the stock in a transaction 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 sale, the director now directly owns 13,099 shares of the company’s stock, valued at approximately $1,351,292.84. This represents a 4.05 % decrease in their ownership of the stock. The sale 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 stock was sold at an average price of $100.21, for a total value of $450,945.00. Following the sale, the chief operating officer now 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 disclosure for this sale can be found here. 0.98% of the stock is owned by insiders.

Boise Cascade Stock Down 2.1 %

Shares of NYSE:BCC opened at $98.28 on Friday. Boise Cascade has a 12-month low of $95.33 and a 12-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. The stock’s 50-day moving average price is $112.29 and its two-hundred day moving average price is $127.36. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 10.28 and a beta of 1.67.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.01). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.57 billion. On average, research analysts forecast that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, February 24th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.85%. The ex-dividend date was Monday, February 24th. Boise Cascade’s dividend payout ratio (DPR) is 8.79%.

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.