Boise Cascade (NYSE:BCC) Shares Sold by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP cut its holdings in shares of Boise Cascade (NYSE:BCC - Free Report) by 77.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of BCC. Norges Bank acquired a new stake in Boise Cascade during the 4th quarter worth $55,680,000. First Trust Advisors LP boosted its position in shares of Boise Cascade by 37.9% during the 4th quarter. First Trust Advisors LP now owns 712,527 shares of the construction company's stock valued at $84,691,000 after acquiring an additional 195,773 shares during the last quarter. American Century Companies Inc. grew its holdings 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 valued at $134,831,000 after purchasing an additional 121,790 shares during the period. Rockefeller Capital Management L.P. increased its position in Boise Cascade by 322.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 109,770 shares of the construction company's stock worth $13,048,000 after purchasing an additional 83,776 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Boise Cascade by 17.8% during the fourth quarter. Northern Trust Corp now owns 483,165 shares of the construction company's stock worth $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.

Boise Cascade Stock Up 0.4%

Boise Cascade stock traded up $0.35 during midday trading on Thursday, reaching $91.09. The company's stock had a trading volume of 253,518 shares, compared to its average volume of 328,348. The business has a 50-day simple moving average of $95.50 and a 200-day simple moving average of $116.65. The company has a market cap of $3.43 billion, a P/E ratio of 9.53 and a beta of 1.43. Boise Cascade has a fifty-two week low of $84.53 and a fifty-two week 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 announced its quarterly earnings results 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 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 analysts' expectations of $1.53 billion. During the same period last year, the firm earned $2.61 earnings per share. Boise Cascade's revenue was down 6.6% on a year-over-year basis. On average, research analysts expect 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. Stockholders of record on Monday, June 2nd will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Monday, June 2nd. Boise Cascade's payout ratio is currently 10.49%.

Insider Transactions at Boise Cascade

In related news, COO Jeffrey Robert Strom sold 4,500 shares of Boise Cascade stock in a transaction 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 in the company, valued at $3,810,585.46. This trade represents a 10.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kristopher J. Matula sold 553 shares of the firm's stock in a transaction 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 of the company's stock, 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. Insiders own 0.98% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on BCC shares. DA Davidson cut their target price on Boise Cascade from $155.00 to $125.00 and set a "buy" rating for the company in a research note on Monday, February 24th. Benchmark restated a "hold" rating on shares of Boise Cascade in a report on Tuesday, February 25th. Loop Capital lowered their target price on shares of 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 dropped their price target on shares of Boise Cascade from $136.00 to $122.00 and set a "market perform" rating for the company in a research report on Tuesday, February 25th. Finally, Truist Financial lowered their price objective on shares of Boise Cascade from $134.00 to $118.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $125.00.

About Boise Cascade

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.