Boise Cascade (NYSE:BCC) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. lowered its holdings in Boise Cascade (NYSE:BCC - Free Report) by 86.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,506 shares of the construction company's stock after selling 46,776 shares during the period. Point72 Asset Management L.P.'s holdings in Boise Cascade were worth $892,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in BCC. Barclays PLC grew its stake in shares of Boise Cascade by 174.1% during the 3rd quarter. Barclays PLC now owns 90,366 shares of the construction company's stock valued at $12,739,000 after buying an additional 57,403 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Boise Cascade by 12.1% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 5,890 shares of the construction company's stock valued at $700,000 after acquiring an additional 635 shares during the period. Blue Trust Inc. increased its stake in Boise Cascade by 49.2% during the fourth quarter. Blue Trust Inc. now owns 2,056 shares of the construction company's stock worth $244,000 after acquiring an additional 678 shares during the last quarter. KBC Group NV raised its holdings in shares of Boise Cascade by 41.3% in the 4th quarter. KBC Group NV now owns 1,732 shares of the construction company's stock worth $206,000 after purchasing an additional 506 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of Boise Cascade during the 4th quarter worth about $29,000. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Boise Cascade news, COO Jeffrey Robert Strom sold 4,500 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total transaction of $450,945.00. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.98% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on BCC. Truist Financial cut their price objective on Boise Cascade from $134.00 to $118.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Benchmark reiterated a "hold" rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Loop Capital reduced their target price on shares of Boise Cascade from $140.00 to $135.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. BMO Capital Markets lowered 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 report on Tuesday, February 25th. Finally, DA Davidson cut their price objective 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Boise Cascade has a consensus rating of "Hold" and an average target price of $125.00.

Boise Cascade Stock Performance

Shares of NYSE:BCC traded down $1.23 on Wednesday, reaching $88.32. 18,140 shares of the company's stock were exchanged, compared to its average volume of 326,387. The business's 50-day moving average is $93.70 and its two-hundred day moving average is $113.51. 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 fifty-two week low of $84.53 and a fifty-two week high of $155.42. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 9.24 and a beta of 1.43.

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

Boise Cascade Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.84 annualized dividend and a dividend yield of 0.95%. Boise Cascade's dividend payout ratio is currently 10.49%.

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.