D. E. Shaw & Co. Inc. Takes Position in Boise Cascade (NYSE:BCC)

D. E. Shaw & Co. Inc. purchased a new stake in Boise Cascade (NYSE:BCC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,127 shares of the construction company's stock, valued at approximately $728,000.

Several other large investors have also recently bought and sold shares of the stock. Deutsche Bank AG grew its position in shares of Boise Cascade by 43.2% in the fourth quarter. Deutsche Bank AG now owns 37,167 shares of the construction company's stock valued at $4,418,000 after purchasing an additional 11,220 shares during the last quarter. Cetera Investment Advisers boosted its stake in Boise Cascade by 34.8% in the 4th quarter. Cetera Investment Advisers now owns 2,706 shares of the construction company's stock valued at $322,000 after purchasing an additional 699 shares during the period. Caxton Associates LP acquired a new position in Boise Cascade in the 4th quarter valued at $522,000. Balyasny Asset Management L.P. grew its holdings in Boise Cascade by 13.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 155,054 shares of the construction company's stock valued at $18,430,000 after buying an additional 18,503 shares in the last quarter. Finally, Baird Financial Group Inc. increased its position in Boise Cascade by 7.2% during the 4th quarter. Baird Financial Group Inc. now owns 155,387 shares of the construction company's stock worth $18,469,000 after buying an additional 10,452 shares during the period. 96.18% of the stock is owned by institutional investors.

Insider Transactions at Boise Cascade

In other news, COO Jeffrey Robert Strom sold 4,500 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total transaction of $450,945.00. Following the completion of the transaction, the chief operating officer now directly owns 38,026 shares in the company, valued at $3,810,585.46. This trade represents a 10.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.98% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets decreased 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 research note on Tuesday, February 25th. Loop Capital dropped their price target on shares of Boise Cascade from $140.00 to $135.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Truist Financial cut their price target on Boise Cascade from $134.00 to $118.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Benchmark reissued a "hold" rating on shares of Boise Cascade in a research report on Tuesday, February 25th. Finally, DA Davidson dropped their price objective on Boise Cascade from $155.00 to $125.00 and set a "buy" rating for the company in a 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 given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $125.00.

Boise Cascade Price Performance

BCC traded up $0.98 during trading on Thursday, hitting $87.71. 185,090 shares of the stock traded hands, compared to its average volume of 326,399. 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 has a twelve month low of $84.53 and a twelve month high of $155.42. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 9.17 and a beta of 1.43. The business has a 50 day moving average price of $93.13 and a 200 day moving average price of $112.94.

Boise Cascade (NYSE:BCC - Get Free Report) last issued 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). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the company earned $2.61 EPS. Boise Cascade's revenue for the quarter was down 6.6% on a year-over-year basis. Equities research analysts forecast that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The firm also recently declared 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. This represents a $0.84 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Monday, June 2nd. Boise Cascade's payout ratio 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.