Twinbeech Capital LP Purchases 30,293 Shares of Boise Cascade (NYSE:BCC)

Twinbeech Capital LP boosted its holdings in shares of Boise Cascade (NYSE:BCC - Free Report) by 81.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,360 shares of the construction company's stock after purchasing an additional 30,293 shares during the quarter. Twinbeech Capital LP owned about 0.18% of Boise Cascade worth $8,006,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Boise Cascade in the 4th quarter valued at approximately $55,680,000. First Trust Advisors LP raised its holdings in Boise Cascade by 37.9% in the 4th quarter. First Trust Advisors LP now owns 712,527 shares of the construction company's stock valued at $84,691,000 after acquiring an additional 195,773 shares in the last quarter. American Century Companies Inc. raised its holdings in Boise Cascade by 12.0% in the 4th quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company's stock valued at $134,831,000 after acquiring an additional 121,790 shares in the last quarter. Tidal Investments LLC raised its holdings in Boise Cascade by 534.5% in the 4th quarter. Tidal Investments LLC now owns 100,295 shares of the construction company's stock valued at $11,921,000 after acquiring an additional 84,487 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its holdings in Boise Cascade by 322.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 109,770 shares of the construction company's stock valued at $13,048,000 after acquiring an additional 83,776 shares in the last quarter. Institutional investors own 96.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BCC shares. DA Davidson cut their price target on Boise Cascade from $155.00 to $125.00 and set a "buy" rating for the company in a report on Monday, February 24th. Loop Capital dropped their target price on Boise Cascade from $140.00 to $135.00 and set a "buy" rating for the company in a report on Monday, April 14th. Benchmark reissued a "hold" rating on shares of Boise Cascade in a report on Tuesday, February 25th. BMO Capital Markets dropped their target price on Boise Cascade from $136.00 to $122.00 and set a "market perform" rating for the company in a report on Tuesday, February 25th. Finally, Truist Financial dropped their target price on Boise Cascade from $134.00 to $118.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Boise Cascade has an average rating of "Hold" and a consensus price target of $125.00.

Boise Cascade Price Performance

BCC stock traded down $0.81 during midday trading on Friday, reaching $86.52. 251,285 shares of the company's stock traded hands, compared to its average volume of 327,741. The company has a 50-day simple moving average of $94.19 and a two-hundred day simple moving average of $114.25. Boise Cascade has a 1-year low of $84.53 and a 1-year high of $155.42. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 9.05 and a beta of 1.43. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The construction company reported $1.06 earnings per share for the quarter, missing analysts' consensus estimates of $1.36 by ($0.30). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the business earned $2.61 earnings per share. The company's revenue for the quarter was down 6.6% on a year-over-year basis. On average, analysts anticipate that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Monday, June 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 0.97%. Boise Cascade's dividend payout ratio is 10.49%.

Insider Activity at Boise Cascade

In related news, COO Jeffrey Robert Strom sold 4,500 shares of the firm's stock in a transaction on 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 sale, the chief operating officer now directly owns 38,026 shares of the company's stock, valued at $3,810,585.46. This trade represents a 10.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kristopher J. Matula sold 553 shares of the firm's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total value of $57,047.48. Following the sale, the director now directly owns 13,099 shares of the company's stock, valued at $1,351,292.84. This represents a 4.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.98% of the company's stock.

Boise Cascade 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.