Brevan Howard Capital Management LP Decreases Stake in Boise Cascade (NYSE:BCC)

Brevan Howard Capital Management LP cut its stake in shares of Boise Cascade (NYSE:BCC - Free Report) by 77.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,532 shares of the construction company's stock after selling 8,557 shares during the period. Brevan Howard Capital Management LP's holdings in Boise Cascade were worth $301,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. D.A. Davidson & CO. raised its stake in Boise Cascade by 4.2% during the 4th quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company's stock valued at $388,000 after buying an additional 133 shares during the last quarter. Principal Securities Inc. boosted its holdings 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 period. Bridge City Capital LLC boosted its holdings in Boise Cascade by 0.9% in the 4th quarter. Bridge City Capital LLC now owns 21,528 shares of the construction company's stock worth $2,559,000 after buying an additional 192 shares during the period. Quarry LP boosted its holdings in Boise Cascade by 502.4% in the 4th quarter. Quarry LP now owns 253 shares of the construction company's stock worth $30,000 after buying an additional 211 shares during the period. Finally, R Squared Ltd bought a new position in Boise Cascade in the 4th quarter worth $29,000. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BCC has been the topic of several research analyst reports. 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 research note on Monday, February 24th. Benchmark reiterated a "hold" rating on shares of Boise Cascade in a research note on Tuesday, February 25th. BMO Capital Markets decreased their price target on shares of Boise Cascade from $136.00 to $122.00 and set a "market perform" rating on the stock in a research note on Tuesday, February 25th. Truist Financial decreased 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 note on Tuesday, April 22nd. Finally, Loop Capital decreased their price target on shares of Boise Cascade from $140.00 to $135.00 and set a "buy" rating on the stock 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 given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $125.00.

Insiders Place Their Bets

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 shares were sold at an average price of $103.16, for a total value of $57,047.48. Following the completion of 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 ownership of the stock. The sale 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 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 transaction of $450,945.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.98% of the company's stock.

Boise Cascade Trading Up 0.8%

Boise Cascade stock traded up $0.75 during midday trading on Friday, reaching $91.74. The stock had a trading volume of 234,072 shares, compared to its average volume of 327,824. 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 has a 52-week low of $84.53 and a 52-week high of $155.42. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 9.60 and a beta of 1.43. The company has a fifty day moving average of $95.21 and a 200 day moving average of $115.91.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The construction company reported $1.06 earnings per share for the quarter, missing analysts' consensus estimates of $1.36 by ($0.30). Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. The firm had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.53 billion. During the same period last year, the company earned $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 anticipate that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

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

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.