Tidal Investments LLC Has $11.92 Million Stock Holdings in Boise Cascade (NYSE:BCC)

Tidal Investments LLC raised its stake in shares of Boise Cascade (NYSE:BCC - Free Report) by 534.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 100,295 shares of the construction company's stock after purchasing an additional 84,487 shares during the quarter. Tidal Investments LLC owned 0.26% of Boise Cascade worth $11,921,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in shares of Boise Cascade in the 4th quarter worth approximately $29,000. Quarry LP boosted its holdings in shares of 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 acquiring an additional 211 shares in the last quarter. Principal Securities Inc. boosted its holdings in shares of 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 acquiring an additional 145 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of 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 acquiring an additional 558 shares in the last quarter. Finally, Quantinno Capital Management LP acquired a new position in shares of Boise Cascade in the 4th quarter worth approximately $200,000. 96.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on BCC shares. Truist Financial reduced their target price on Boise Cascade from $134.00 to $118.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. BMO Capital Markets reduced 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. Loop Capital reduced their price objective on Boise Cascade from $140.00 to $135.00 and set a "buy" rating on the stock in a report on Monday, April 14th. DA Davidson reduced their price objective on Boise Cascade from $155.00 to $125.00 and set a "buy" rating on the stock in a report on Monday, February 24th. Finally, Benchmark reaffirmed a "hold" rating on shares of Boise Cascade in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Boise Cascade has an average rating of "Hold" and an average price target of $125.00.

Boise Cascade Trading Down 0.9%

Shares of Boise Cascade stock traded down $0.81 on Friday, hitting $86.52. 251,285 shares of the company's stock traded hands, compared to its average volume of 327,741. The firm's 50-day moving average price is $94.19 and its two-hundred day moving average price is $114.25. The stock has a market capitalization of $3.26 billion, a PE ratio of 9.05 and a beta of 1.43. Boise Cascade has a one year low of $84.53 and a one year high of $155.42. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92.

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

Boise Cascade Announces Dividend

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 given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Monday, June 2nd. Boise Cascade's payout ratio is 10.49%.

Insider Activity at Boise Cascade

In related news, COO Jeffrey Robert Strom sold 4,500 shares of the company's 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 completion of the sale, the chief operating officer now owns 38,026 shares in the company, valued at $3,810,585.46. This represents a 10.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kristopher J. Matula sold 553 shares of the company's stock in a transaction on Tuesday, February 25th. The shares were 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 approximately $1,351,292.84. This represents a 4.05% decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is owned by corporate insiders.

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.