Smartleaf Asset Management LLC Boosts Stake in Boise Cascade (NYSE:BCC)

Smartleaf Asset Management LLC raised its holdings in Boise Cascade (NYSE:BCC) by 254.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 777 shares of the construction company’s stock after purchasing an additional 558 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Boise Cascade were worth $92,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new stake in shares of Boise Cascade in the 3rd quarter valued at $28,000. R Squared Ltd purchased a new stake in shares of Boise Cascade in the 4th quarter valued at $29,000. Larson Financial Group LLC raised its holdings in shares of Boise Cascade by 23.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock valued at $53,000 after buying an additional 73 shares during the period. Principal Securities Inc. raised its holdings in shares of 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 buying an additional 145 shares during the period. Finally, Covestor Ltd raised its holdings in shares of Boise Cascade by 50.1% in the 3rd quarter. Covestor Ltd now owns 689 shares of the construction company’s stock valued at $97,000 after buying an additional 230 shares during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Trading Up 0.9 %

NYSE:BCC opened at $101.71 on Friday. The stock has a 50-day simple moving average of $118.56 and a 200-day simple moving average of $130.57. The stock has a market cap of $3.86 billion, a P/E ratio of 10.64 and a beta of 1.67. Boise Cascade has a 1 year low of $97.21 and a 1 year high of $155.42. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34.

Boise Cascade (NYSE:BCC) last posted its 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). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.57 billion. As a group, analysts anticipate that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Monday, February 24th. Boise Cascade’s payout ratio is currently 8.79%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BCC shares. Truist Financial lowered their target price on Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Loop Capital lowered their target price on Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, February 24th. DA Davidson lowered their target price on Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a research note on Monday, February 24th. The Goldman Sachs Group lowered their target price 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. Finally, Benchmark reissued a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $128.50.

Insider Activity

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of the company’s stock in a transaction that occurred 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey Robert Strom sold 4,500 shares of the company’s stock in a transaction that occurred 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 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 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.