Boise Cascade (NYSE:BCC) Shares Acquired by Baird Financial Group Inc.

Baird Financial Group Inc. lifted its position in Boise Cascade (NYSE:BCC - Free Report) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 155,387 shares of the construction company's stock after purchasing an additional 10,452 shares during the quarter. Baird Financial Group Inc. owned approximately 0.40% of Boise Cascade worth $18,469,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BCC. R Squared Ltd purchased a new position in shares of Boise Cascade in the 4th quarter valued at approximately $29,000. Quarry LP grew its position in Boise Cascade by 502.4% in the 4th quarter. Quarry LP now owns 253 shares of the construction company's stock valued at $30,000 after buying an additional 211 shares during the last quarter. Principal Securities Inc. raised its position in Boise Cascade by 44.2% during the 4th 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 last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Boise Cascade by 254.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company's stock valued at $92,000 after acquiring an additional 558 shares in the last quarter. Finally, PEAK6 LLC purchased a new position in Boise Cascade during the fourth quarter worth about $201,000. 96.18% of the stock is owned by institutional investors and hedge funds.

Boise Cascade Stock Down 1.1 %

Shares of NYSE BCC traded down $0.99 during trading hours on Friday, hitting $88.59. The company had a trading volume of 278,111 shares, compared to its average volume of 328,957. The stock has a market capitalization of $3.37 billion, a P/E ratio of 9.27 and a beta of 1.43. The firm's 50 day moving average is $95.99 and its 200-day moving average is $117.53. Boise Cascade has a 1-year low of $84.53 and a 1-year high of $155.42. 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 (NYSE:BCC - Get Free Report) last released its earnings results on Monday, May 5th. The construction company reported $1.06 earnings per share (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 company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the company posted $2.61 earnings per share. The business's revenue for the quarter was down 6.6% compared to the same quarter last year. On average, analysts expect that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Monday, June 2nd. Boise Cascade's dividend payout ratio is presently 10.49%.

Insider Activity

In other Boise Cascade news, COO Jeffrey Robert Strom sold 4,500 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total transaction of $450,945.00. Following the completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kristopher J. Matula sold 553 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total value of $57,047.48. Following the sale, the director now directly owns 13,099 shares in the company, valued at $1,351,292.84. This trade represents a 4.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.11% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. DA Davidson cut their price objective on Boise Cascade from $155.00 to $125.00 and set a "buy" rating for the company in a research report on Monday, February 24th. The Goldman Sachs Group dropped their target price on shares of Boise Cascade from $145.00 to $126.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. Loop Capital reduced their price objective on Boise Cascade from $140.00 to $135.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Truist Financial dropped their price target on shares of Boise Cascade from $134.00 to $118.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, Benchmark reaffirmed a "hold" rating on shares of Boise Cascade in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $125.00.

Boise Cascade 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.