Man Group plc Has $6.92 Million Stake in Boise Cascade (NYSE:BCC)

Man Group plc trimmed its stake in Boise Cascade (NYSE:BCC - Free Report) by 16.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,231 shares of the construction company's stock after selling 11,304 shares during the quarter. Man Group plc owned 0.15% of Boise Cascade worth $6,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. R Squared Ltd acquired a new position in Boise Cascade in the 4th quarter valued at approximately $29,000. Quarry LP increased 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 buying an additional 211 shares during the period. Principal Securities Inc. increased its stake in Boise Cascade by 44.2% in the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company's stock valued at $56,000 after buying an additional 145 shares during the period. Smartleaf Asset Management LLC increased its stake in Boise Cascade by 254.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company's stock valued at $92,000 after buying an additional 558 shares during the period. Finally, PEAK6 LLC acquired a new position in Boise Cascade in the 4th quarter valued at approximately $201,000. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Boise Cascade Stock Performance

Shares of BCC opened at $91.29 on Tuesday. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22. The company's fifty day moving average is $95.06 and its 200-day moving average is $115.50. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 9.55 and a beta of 1.43. Boise Cascade has a 12 month low of $84.53 and a 12 month high of $155.42.

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

Boise Cascade Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, June 2nd will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Monday, June 2nd. Boise Cascade's dividend payout ratio is currently 10.49%.

Insider Buying and Selling

In other Boise Cascade news, COO Jeffrey Robert Strom sold 4,500 shares of the stock in a transaction 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 of the company's stock, valued at $3,810,585.46. This represents a 10.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kristopher J. Matula sold 553 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total transaction of $57,047.48. Following the completion of the sale, the director now directly owns 13,099 shares of the company's stock, valued at approximately $1,351,292.84. This trade represents a 4.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. DA Davidson dropped 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 note on Monday, February 24th. BMO Capital Markets dropped 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 note on Tuesday, February 25th. Benchmark reiterated a "hold" rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Truist Financial dropped their price target on shares of Boise Cascade from $134.00 to $118.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, Loop Capital dropped their price target on shares of Boise Cascade from $140.00 to $135.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. One 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 MarketBeat, Boise Cascade currently has an average rating of "Hold" and an average price target of $125.00.

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.

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