KLP Kapitalforvaltning AS Boosts Stock Position in Boise Cascade, L.L.C. (NYSE:BCC)

KLP Kapitalforvaltning AS raised its position in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 25.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,800 shares of the construction company's stock after acquiring an additional 12,200 shares during the quarter. KLP Kapitalforvaltning AS owned approximately 0.16% of Boise Cascade worth $5,964,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in Boise Cascade in the fourth quarter worth $1,601,000. HighTower Advisors LLC lifted its stake in shares of Boise Cascade by 139.1% in the 4th quarter. HighTower Advisors LLC now owns 4,507 shares of the construction company's stock valued at $536,000 after purchasing an additional 2,622 shares in the last quarter. Corient Private Wealth LLC lifted its position in Boise Cascade by 19.3% during the 4th quarter. Corient Private Wealth LLC now owns 1,915 shares of the construction company's stock worth $236,000 after acquiring an additional 310 shares in the last quarter. LPL Financial LLC lifted its position in Boise Cascade by 29.1% during the 4th quarter. LPL Financial LLC now owns 14,127 shares of the construction company's stock worth $1,679,000 after acquiring an additional 3,187 shares in the last quarter. Finally, Segall Bryant & Hamill LLC increased its holdings in Boise Cascade by 49.4% during the 4th quarter. Segall Bryant & Hamill LLC now owns 21,302 shares of the construction company's stock worth $2,532,000 after purchasing an additional 7,048 shares during the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on BCC shares. Loop Capital reduced their price objective on Boise Cascade from $140.00 to $135.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Bank of America cut their price objective on Boise Cascade from $111.00 to $107.00 and set a "buy" rating for the company in a report on Wednesday, July 9th. DA Davidson cut their price objective on Boise Cascade from $115.00 to $100.00 and set a "buy" rating for the company in a report on Friday, July 18th. Finally, Truist Financial cut their price objective on Boise Cascade from $114.00 to $106.00 and set a "buy" rating for the company in a report on Tuesday, July 8th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $116.00.

Insiders Place Their Bets

In other news, SVP Jill Twedt sold 1,200 shares of Boise Cascade stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $88.01, for a total value of $105,612.00. Following the completion of the transaction, the senior vice president directly owned 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Joanna L. Barney sold 1,000 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $87.68, for a total value of $87,680.00. Following the completion of the sale, the executive vice president directly owned 12,372 shares of the company's stock, valued at $1,084,776.96. The trade was a 7.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.11% of the stock is currently owned by corporate insiders.

Boise Cascade Trading Down 0.3%

Shares of Boise Cascade stock traded down $0.31 during trading on Monday, reaching $87.84. 54,079 shares of the company were exchanged, compared to its average volume of 349,332. The company has a quick ratio of 1.51, a current ratio of 2.82 and a debt-to-equity ratio of 0.22. Boise Cascade, L.L.C. has a twelve month low of $83.09 and a twelve month high of $155.42. The business has a 50-day moving average price of $88.06 and a 200-day moving average price of $99.46. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 10.98, a P/E/G ratio of 4.30 and a beta of 1.34.

Boise Cascade (NYSE:BCC - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The construction company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.30). Boise Cascade had a net margin of 4.72% and a return on equity of 14.36%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the company earned $2.61 EPS. Boise Cascade's quarterly revenue was down 6.6% on a year-over-year basis. Sell-side analysts anticipate that Boise Cascade, L.L.C. will post 10.15 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Monday, June 2nd. Boise Cascade's payout ratio is 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.