Millennium Management LLC Trims Stake in Boise Cascade (NYSE:BCC)

Millennium Management LLC lessened its position in Boise Cascade (NYSE:BCC - Free Report) by 51.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,845 shares of the construction company's stock after selling 131,498 shares during the quarter. Millennium Management LLC owned about 0.33% of Boise Cascade worth $14,839,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of BCC. D.A. Davidson & CO. boosted its position in Boise Cascade by 4.2% in the fourth quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company's stock valued at $388,000 after buying an additional 133 shares in the last quarter. Barclays PLC raised its stake in Boise Cascade by 174.1% during the 3rd quarter. Barclays PLC now owns 90,366 shares of the construction company's stock worth $12,739,000 after buying an additional 57,403 shares during the period. Bank of New York Mellon Corp lifted its stake in Boise Cascade by 3.0% in the fourth quarter. Bank of New York Mellon Corp now owns 446,350 shares of the construction company's stock valued at $53,053,000 after buying an additional 12,963 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in Boise Cascade by 19.4% in the 4th quarter. Handelsbanken Fonder AB now owns 8,000 shares of the construction company's stock worth $951,000 after purchasing an additional 1,300 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Boise Cascade by 2.6% in the 4th quarter. Principal Financial Group Inc. now owns 208,323 shares of the construction company's stock valued at $24,761,000 after purchasing an additional 5,281 shares during the period. Institutional investors own 96.18% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Loop Capital reduced their price target on Boise Cascade from $140.00 to $135.00 and set a "buy" rating for the company in a report on Monday, April 14th. BMO Capital Markets lowered their price objective 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. Benchmark reiterated a "hold" rating on shares of Boise Cascade in a research report on Tuesday, February 25th. Truist Financial decreased their price target 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. Finally, DA Davidson decreased their price objective on shares of Boise Cascade from $155.00 to $125.00 and set a "buy" rating for the company in a research report on Monday, February 24th. One 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 an average rating of "Hold" and an average price target of $125.00.

Insider Activity at Boise Cascade

In other news, COO Jeffrey Robert Strom sold 4,500 shares of Boise Cascade stock in a transaction that occurred 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 directly owns 38,026 shares in the company, valued at $3,810,585.46. The trade was a 10.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.98% of the stock is currently owned by corporate insiders.

Boise Cascade Price Performance

Boise Cascade stock traded down $1.27 during midday trading on Wednesday, reaching $88.27. 13,271 shares of the stock were exchanged, compared to its average volume of 326,366. The company's fifty day moving average is $93.70 and its 200-day moving average is $113.51. 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 firm has a market cap of $3.32 billion, a PE ratio of 9.23 and a beta of 1.43. Boise Cascade has a 52 week low of $84.53 and a 52 week high of $155.42.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The construction company reported $1.06 EPS for the quarter, missing analysts' consensus estimates of $1.36 by ($0.30). The company had revenue of $1.54 billion during 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%. Boise Cascade's revenue for the quarter was down 6.6% on a year-over-year basis. During the same period last year, the firm earned $2.61 earnings per share. On average, sell-side analysts forecast that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Dividend Announcement

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