Squarepoint Ops LLC Lowers Position in Boise Cascade (NYSE:BCC)

Squarepoint Ops LLC lowered its position in shares of Boise Cascade (NYSE:BCC - Free Report) by 30.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,787 shares of the construction company's stock after selling 4,321 shares during the period. Squarepoint Ops LLC's holdings in Boise Cascade were worth $1,163,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BCC. R Squared Ltd bought a new position in Boise Cascade in the 4th quarter worth $29,000. Quarry LP increased its stake 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. increased its stake 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 increased its stake 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 bought a new stake in Boise Cascade during the 4th quarter valued at about $200,000. Hedge funds and other institutional investors own 96.18% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, COO Jeffrey Robert Strom sold 4,500 shares of the company'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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.98% of the stock is owned by insiders.

Boise Cascade Trading Up 2.6%

NYSE BCC traded up $2.18 on Tuesday, hitting $87.30. 151,934 shares of the stock were exchanged, compared to its average volume of 326,315. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34. The stock has a fifty day moving average price of $92.53 and a two-hundred day moving average price of $111.78. The firm has a market capitalization of $3.29 billion, a P/E ratio of 9.13 and a beta of 1.43. Boise Cascade has a 52-week low of $83.86 and a 52-week high of $155.42.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.53 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. The firm's quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.61 earnings per share. Research analysts forecast that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, June 2nd will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Monday, June 2nd. Boise Cascade's dividend payout ratio (DPR) is presently 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.