GAMMA Investing LLC Increases Position in Boise Cascade (NYSE:BCC)

GAMMA Investing LLC boosted its holdings in Boise Cascade (NYSE:BCC - Free Report) by 15,650.6% during the first quarter, according to the company in its most recent disclosure with the SEC. 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 about 0.38% of Boise Cascade worth $14,028,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of Boise Cascade in the fourth quarter worth approximately $55,680,000. First Trust Advisors LP lifted its stake in shares of Boise Cascade by 37.9% in the fourth 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. American Century Companies Inc. lifted its stake in shares of Boise Cascade by 12.0% in the fourth quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company's stock worth $134,831,000 after buying an additional 121,790 shares in the last quarter. Tidal Investments LLC lifted its stake in shares of Boise Cascade by 534.5% in the fourth quarter. Tidal Investments LLC now owns 100,295 shares of the construction company's stock worth $11,921,000 after buying an additional 84,487 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of Boise Cascade by 322.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 109,770 shares of the construction company's stock worth $13,048,000 after buying an additional 83,776 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BCC. Benchmark restated a "hold" rating on shares of Boise Cascade in a research report on Tuesday, February 25th. Loop Capital lowered their price objective on shares of 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 lowered their price objective on shares of Boise Cascade from $134.00 to $118.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. DA Davidson lowered 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. Finally, BMO Capital Markets lowered their price objective on shares of Boise Cascade from $136.00 to $122.00 and set a "market perform" rating on the stock in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $125.00.

Insider Transactions at Boise Cascade

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

Boise Cascade Stock Down 0.9%

BCC opened at $86.71 on Friday. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22. Boise Cascade has a 1-year low of $83.86 and a 1-year high of $155.42. The company has a market capitalization of $3.26 billion, a PE ratio of 9.07 and a beta of 1.36. The firm's 50 day simple moving average is $91.60 and its two-hundred day simple moving average is $110.72.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The construction company reported $1.06 earnings per share (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 analysts' expectations of $1.53 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. The business's revenue for the quarter was down 6.6% on a year-over-year basis. During the same period last year, the company earned $2.61 earnings per share. As a group, equities analysts forecast that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Dividend Announcement

The company 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 0.97%. Boise Cascade's dividend payout ratio (DPR) is presently 10.49%.

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.

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