Point72 Asset Management L.P. Trims Position in Boise Cascade (NYSE:BCC)

Point72 Asset Management L.P. trimmed its stake in shares of Boise Cascade (NYSE:BCC - Free Report) by 86.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BCC. American Century Companies Inc. boosted its position in shares of Boise Cascade by 12.0% during the 4th quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company's stock valued at $134,831,000 after acquiring an additional 121,790 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Boise Cascade by 37.9% in the 4th quarter. First Trust Advisors LP now owns 712,527 shares of the construction company's stock worth $84,691,000 after buying an additional 195,773 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Boise Cascade by 17.8% in the 4th quarter. Northern Trust Corp now owns 483,165 shares of the construction company's stock worth $57,429,000 after buying an additional 73,061 shares during the last quarter. Norges Bank purchased a new stake in shares of Boise Cascade during the 4th quarter valued at about $55,680,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Boise Cascade by 3.0% in the 4th quarter. Bank of New York Mellon Corp now owns 446,350 shares of the construction company's stock valued at $53,053,000 after acquiring an additional 12,963 shares during the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Trading Down 0.9%

BCC stock traded down $0.81 during mid-day trading on Monday, reaching $86.52. The company had a trading volume of 251,285 shares, compared to its average volume of 327,741. Boise Cascade has a 12 month low of $84.53 and a 12 month high of $155.42. The company has a market capitalization of $3.26 billion, a PE ratio of 9.05 and a beta of 1.43. The firm has a 50 day moving average of $94.19 and a 200 day moving average of $114.07. 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 released 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 business 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 firm's revenue was down 6.6% compared to the same quarter last year. On average, equities analysts predict that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.21 per share. 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 0.97%. Boise Cascade's dividend payout ratio is presently 10.49%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Loop Capital cut their target price on Boise Cascade from $140.00 to $135.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Truist Financial reduced their target price 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. Benchmark restated a "hold" rating on shares of Boise Cascade in a report on Tuesday, February 25th. BMO Capital Markets cut 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 report on Tuesday, February 25th. Finally, DA Davidson reduced their price objective on shares of Boise Cascade from $155.00 to $125.00 and set a "buy" rating on the stock in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $125.00.

Insider Activity

In other news, COO Jeffrey Robert Strom sold 4,500 shares of the firm's stock in a transaction dated 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 directly owns 38,026 shares in the company, valued at approximately $3,810,585.46. This trade represents a 10.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 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 trade represents a 4.05% 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.

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.