GAMMA Investing LLC Purchases 142,107 Shares of Boise Cascade (NYSE:BCC)

GAMMA Investing LLC increased its stake in Boise Cascade (NYSE:BCC - Free Report) by 15,650.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 143,015 shares of the construction company's stock after purchasing an additional 142,107 shares during the quarter. GAMMA Investing LLC owned approximately 0.38% of Boise Cascade worth $14,028,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vise Technologies Inc. increased its position in Boise Cascade by 3.4% in the fourth quarter. Vise Technologies Inc. now owns 3,021 shares of the construction company's stock worth $359,000 after buying an additional 100 shares during the last quarter. D.A. Davidson & CO. grew its stake in shares of Boise Cascade by 4.2% during the 4th quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company's stock worth $388,000 after acquiring an additional 133 shares during the period. Principal Securities Inc. increased its holdings in 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 during the last quarter. Bridge City Capital LLC increased its holdings in Boise Cascade by 0.9% in the 4th quarter. Bridge City Capital LLC now owns 21,528 shares of the construction company's stock worth $2,559,000 after acquiring an additional 192 shares during the last quarter. Finally, Quarry LP raised its stake in Boise Cascade by 502.4% in the 4th quarter. Quarry LP now owns 253 shares of the construction company's stock valued at $30,000 after acquiring an additional 211 shares during the period. Institutional investors own 96.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Truist Financial cut their target price 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. BMO Capital Markets cut 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 report on Tuesday, February 25th. DA Davidson reduced 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 note on Monday, February 24th. Loop Capital dropped 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. Finally, Benchmark reaffirmed a "hold" rating on shares of Boise Cascade in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Boise Cascade presently has a consensus rating of "Hold" and an average target price of $125.00.

Boise Cascade Price Performance

Shares of NYSE:BCC traded up $1.44 during trading on Tuesday, reaching $90.09. The company had a trading volume of 234,306 shares, compared to its average volume of 326,885. The company has a fifty day moving average of $91.24 and a two-hundred day moving average of $109.80. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $3.39 billion, a P/E ratio of 9.42 and a beta of 1.36. Boise Cascade has a 12 month low of $83.86 and a 12 month high of $155.42.

Boise Cascade (NYSE:BCC - Get Free Report) last released its 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 firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The firm's revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.61 EPS. Equities research analysts forecast that Boise Cascade will post 10.15 earnings per share for the current 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 $0.21 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.93%. Boise Cascade's dividend payout ratio (DPR) is 10.49%.

Insider Activity

In other Boise Cascade news, EVP Joanna L. Barney sold 1,000 shares of Boise Cascade stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $87.68, for a total value of $87,680.00. Following the transaction, the executive vice president now directly owns 12,372 shares of the company's stock, valued at $1,084,776.96. The trade was a 7.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jill Twedt sold 1,200 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $88.01, for a total value of $105,612.00. Following the sale, the senior vice president now directly owns 34,649 shares of the company's stock, valued at approximately $3,049,458.49. This trade represents a 3.35% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.98% of the company's stock.

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.