Twinbeech Capital LP Has $8.01 Million Holdings in Boise Cascade (NYSE:BCC)

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

Several other hedge funds have also added to or reduced their stakes in BCC. R Squared Ltd acquired a new stake in Boise Cascade during the 4th quarter worth $29,000. Quarry LP raised its stake in shares of 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 purchasing an additional 211 shares during the period. Principal Securities Inc. raised its stake in shares of 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 purchasing an additional 145 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of 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 purchasing an additional 558 shares during the period. Finally, Quantinno Capital Management LP acquired a new stake in shares of Boise Cascade in the 4th quarter valued at about $200,000. Institutional investors and hedge funds own 96.18% of the company's stock.

Boise Cascade Trading Down 0.7%

Boise Cascade stock opened at $91.29 on Tuesday. Boise Cascade has a 52 week low of $84.53 and a 52 week high of $155.42. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34. The stock has a market capitalization of $3.44 billion, a P/E ratio of 9.55 and a beta of 1.43. The stock has a 50-day simple moving average of $95.06 and a 200 day simple moving average of $115.50.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its quarterly 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). Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the business posted $2.61 EPS. The company's revenue for the quarter was down 6.6% on a year-over-year basis. Analysts expect 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. This represents a $0.84 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Monday, June 2nd. Boise Cascade's payout ratio is currently 10.49%.

Insider Buying and Selling

In other news, COO Jeffrey Robert Strom sold 4,500 shares of the business's stock in a transaction that occurred 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 owns 38,026 shares in the company, valued at $3,810,585.46. The trade was a 10.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kristopher J. Matula sold 553 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total value of $57,047.48. Following the sale, the director now owns 13,099 shares of the company's stock, valued at approximately $1,351,292.84. This represents a 4.05% decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on BCC. Benchmark reissued a "hold" rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Loop Capital dropped their price target on Boise Cascade from $140.00 to $135.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. BMO Capital Markets dropped their price target on 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. DA Davidson dropped their price target on Boise Cascade from $155.00 to $125.00 and set a "buy" rating on the stock in a research note on Monday, February 24th. Finally, Truist Financial decreased their price objective 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 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. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $125.00.

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.

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