Boise Cascade (NYSE:BCC) Stock Position Reduced by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. cut its position in shares of Boise Cascade (NYSE:BCC - Free Report) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 410,820 shares of the construction company's stock after selling 20,968 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 1.07% of Boise Cascade worth $48,830,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Boise Cascade in the fourth quarter valued at $55,680,000. First Trust Advisors LP boosted its position in shares of Boise Cascade by 37.9% in the fourth quarter. First Trust Advisors LP now owns 712,527 shares of the construction company's stock worth $84,691,000 after acquiring an additional 195,773 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Boise Cascade by 12.0% in the fourth quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company's stock worth $134,831,000 after acquiring an additional 121,790 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Boise Cascade by 322.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 109,770 shares of the construction company's stock worth $13,048,000 after acquiring an additional 83,776 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Boise Cascade by 17.8% in the fourth quarter. Northern Trust Corp now owns 483,165 shares of the construction company's stock valued at $57,429,000 after purchasing an additional 73,061 shares during the period. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of the firm'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 owns 13,099 shares in the company, valued at $1,351,292.84. This trade represents a 4.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey Robert Strom sold 4,500 shares of the firm'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 owns 38,026 shares of the company's stock, valued at approximately $3,810,585.46. This trade represents a 10.58% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.98% of the company's stock.

Boise Cascade Trading Up 0.4%

NYSE BCC traded up $0.35 during mid-day trading on Thursday, hitting $91.09. The company's stock had a trading volume of 253,518 shares, compared to its average volume of 328,348. Boise Cascade has a 52-week low of $84.53 and a 52-week high of $155.42. The stock's fifty day simple moving average is $95.50 and its two-hundred day simple moving average is $116.65. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92. The firm has a market capitalization of $3.43 billion, a P/E ratio of 9.53 and a beta of 1.43.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its earnings results on Monday, May 5th. The construction company reported $1.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.36 by ($0.30). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the business posted $2.61 EPS. Boise Cascade's quarterly revenue was down 6.6% compared to the same quarter last year. Research analysts expect that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.92%. Boise Cascade's dividend payout ratio (DPR) is currently 10.49%.

Analyst Ratings Changes

A number of brokerages have weighed in on BCC. DA Davidson decreased their price target on shares of Boise Cascade from $155.00 to $125.00 and set a "buy" rating on the stock in a report on Monday, February 24th. Benchmark reiterated a "hold" rating on shares of Boise Cascade in a report on Tuesday, February 25th. Loop Capital dropped their price target 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. BMO Capital Markets cut their price objective 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. Finally, Truist Financial reduced their price objective on Boise Cascade from $134.00 to $118.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock 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.