Balyasny Asset Management L.P. Has $18.43 Million Holdings in Boise Cascade (NYSE:BCC)

Balyasny Asset Management L.P. raised its stake in shares of Boise Cascade (NYSE:BCC - Free Report) by 13.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 155,054 shares of the construction company's stock after buying an additional 18,503 shares during the period. Balyasny Asset Management L.P. owned about 0.40% of Boise Cascade worth $18,430,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BCC. Barclays PLC lifted its holdings in Boise Cascade by 174.1% in the third quarter. Barclays PLC now owns 90,366 shares of the construction company's stock valued at $12,739,000 after acquiring an additional 57,403 shares during the last quarter. Franklin Resources Inc. grew its position in Boise Cascade by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 43,958 shares of the construction company's stock valued at $6,285,000 after acquiring an additional 335 shares in the last quarter. Nordea Investment Management AB increased its holdings in Boise Cascade by 5.0% in the fourth quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company's stock valued at $14,454,000 after buying an additional 5,779 shares during the last quarter. Fulcrum Capital LLC purchased a new position in Boise Cascade in the fourth quarter valued at $1,092,000. Finally, Burney Co. lifted its stake in Boise Cascade by 14.1% during the fourth quarter. Burney Co. now owns 7,488 shares of the construction company's stock worth $890,000 after purchasing an additional 927 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Jeffrey Robert Strom sold 4,500 shares of Boise Cascade 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 transaction, the chief operating officer now directly owns 38,026 shares of the company's stock, valued at $3,810,585.46. This trade represents a 10.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kristopher J. Matula sold 553 shares of the firm's 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 owns 13,099 shares in the company, valued at $1,351,292.84. This represents a 4.05% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.98% of the company's stock.

Boise Cascade Trading Up 1.3%

Shares of NYSE:BCC traded up $1.19 during midday trading on Tuesday, reaching $94.29. The company had a trading volume of 48,152 shares, compared to its average volume of 366,785. 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 has a 1-year low of $84.53 and a 1-year high of $155.42. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 9.86 and a beta of 1.43. The company has a fifty day simple moving average of $95.85 and a two-hundred day simple moving average of $116.98.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its 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). Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the company earned $2.61 earnings per share. The company's quarterly revenue was down 6.6% compared to the same quarter last year. Research analysts predict that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.89%. The ex-dividend date is Monday, June 2nd. Boise Cascade's dividend payout ratio is 10.49%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Benchmark reissued a "hold" rating on shares of Boise Cascade in a report on Tuesday, February 25th. DA Davidson lowered their price target on Boise Cascade from $155.00 to $125.00 and set a "buy" rating for the company in a report on Monday, February 24th. The Goldman Sachs Group reduced their target price on Boise Cascade from $145.00 to $126.00 and set a "neutral" rating on the stock in a report on Tuesday, January 14th. Truist Financial reduced their target price on Boise Cascade from $134.00 to $118.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, Loop Capital decreased their target price on Boise Cascade from $140.00 to $135.00 and set a "buy" rating for the company in a research note on Monday, April 14th. One equities research 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. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price 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.