First Trust Advisors LP Boosts Holdings in Boise Cascade (NYSE:BCC)

First Trust Advisors LP increased its stake in Boise Cascade (NYSE:BCC - Free Report) by 37.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 712,527 shares of the construction company's stock after purchasing an additional 195,773 shares during the quarter. First Trust Advisors LP owned approximately 1.86% of Boise Cascade worth $84,691,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. R Squared Ltd bought a new stake in Boise Cascade during the 4th quarter valued at $29,000. Principal Securities Inc. lifted its position in Boise Cascade by 44.2% in 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 lifted its position in Boise Cascade by 254.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company's stock worth $92,000 after buying an additional 558 shares during the last quarter. PEAK6 LLC bought a new stake in Boise Cascade in the fourth quarter valued at approximately $201,000. Finally, KBC Group NV lifted its position in Boise Cascade by 41.3% in the fourth quarter. KBC Group NV now owns 1,732 shares of the construction company's stock valued at $206,000 after purchasing an additional 506 shares during the last quarter. Institutional investors own 96.18% of the company's stock.

Analysts Set New Price Targets

BCC has been the subject of several recent research reports. Loop Capital lowered 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. DA Davidson reduced their price target on Boise Cascade from $155.00 to $125.00 and set a "buy" rating on the stock in a research note on Monday, February 24th. The Goldman Sachs Group reduced their price target on Boise Cascade from $145.00 to $126.00 and set a "neutral" rating for the company in a report on Tuesday, January 14th. Benchmark restated a "hold" rating on shares of Boise Cascade in a report on Tuesday, February 25th. Finally, BMO Capital Markets decreased their price objective on shares of Boise Cascade from $136.00 to $122.00 and set a "market perform" rating for the company in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $125.00.

Boise Cascade Price Performance

Boise Cascade stock traded down $0.72 during mid-day trading on Friday, reaching $95.37. 243,643 shares of the company's stock traded hands, compared to its average volume of 328,434. Boise Cascade has a 12-month low of $87.84 and a 12-month high of $155.42. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 9.98 and a beta of 1.52. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22. The stock has a 50 day moving average of $98.92 and a two-hundred day moving average of $120.66.

Boise Cascade (NYSE:BCC - Get Free Report) last announced 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). The firm had revenue of $1.57 billion during 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%. Equities analysts forecast that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Monday, February 24th. Boise Cascade's dividend payout ratio is presently 8.79%.

Insider Activity

In related news, Director Kristopher J. Matula sold 553 shares of the business'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 value of $57,047.48. Following the completion of the transaction, the director now owns 13,099 shares of the company's stock, valued at $1,351,292.84. The trade was a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jeffrey Robert Strom sold 4,500 shares of the company'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 transaction, the chief operating officer now directly owns 38,026 shares in the company, valued at approximately $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. Insiders own 0.98% of the company's stock.

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.