Boise Cascade (NYSE:BCC) Stake Raised by Two Sigma Advisers LP

Two Sigma Advisers LP raised its position in Boise Cascade (NYSE:BCC - Free Report) by 22.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,200 shares of the construction company's stock after purchasing an additional 4,300 shares during the quarter. Two Sigma Advisers LP owned 0.06% of Boise Cascade worth $2,758,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of BCC. Norges Bank purchased a new position in Boise Cascade in the fourth quarter valued at approximately $55,680,000. First Trust Advisors LP increased its position 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 acquiring an additional 195,773 shares in the last quarter. American Century Companies Inc. raised its stake in shares of 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 during the period. Tidal Investments LLC lifted its holdings in shares of Boise Cascade by 534.5% during 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. lifted its holdings in shares of Boise Cascade by 322.3% during 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. 96.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Boise Cascade

In other news, COO Jeffrey Robert Strom sold 4,500 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total value of $450,945.00. Following the completion of the transaction, the chief operating officer now owns 38,026 shares of the company's stock, valued at approximately $3,810,585.46. This represents a 10.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.98% of the stock is owned by insiders.

Boise Cascade Stock Performance

Shares of BCC traded down $0.87 during midday trading on Friday, hitting $86.98. 264,975 shares of the stock traded hands, compared to its average volume of 327,059. The business's 50 day moving average price is $92.84 and its two-hundred day moving average price is $112.17. The firm has a market capitalization of $3.27 billion, a PE ratio of 9.10 and a beta of 1.43. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34. Boise Cascade has a 1-year low of $84.53 and a 1-year high of $155.42.

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

Boise Cascade Announces Dividend

The firm 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 $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Monday, June 2nd. Boise Cascade's dividend payout ratio (DPR) is 10.49%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. DA Davidson lowered 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. BMO Capital Markets decreased their price objective on shares of Boise Cascade from $136.00 to $122.00 and set a "market perform" rating for the company in a report on Tuesday, February 25th. Benchmark reissued a "hold" rating on shares of Boise Cascade in a report on Tuesday, February 25th. Truist Financial decreased their price target on shares of Boise Cascade from $134.00 to $118.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Loop Capital dropped 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 note on Monday, April 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price 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.