Two Sigma Advisers LP Raises Holdings in Boise Cascade (NYSE:BCC)

Two Sigma Advisers LP raised its stake in shares of Boise Cascade (NYSE:BCC - Free Report) by 22.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 23,200 shares of the construction company's stock after purchasing an additional 4,300 shares during the period. Two Sigma Advisers LP owned 0.06% of Boise Cascade worth $2,758,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. R Squared Ltd purchased a new position in shares of Boise Cascade in the fourth quarter valued at about $29,000. Quarry LP raised its position in Boise Cascade by 502.4% during the fourth 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 holdings in shares of Boise Cascade by 44.2% in the fourth quarter. Principal Securities Inc. now owns 473 shares of the construction company's stock worth $56,000 after buying an additional 145 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Boise Cascade by 254.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company's stock worth $92,000 after buying an additional 558 shares during the period. Finally, Quantinno Capital Management LP purchased a new stake in shares of Boise Cascade in the fourth quarter worth approximately $200,000. Institutional investors own 96.18% of the company's stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, COO Jeffrey Robert Strom sold 4,500 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total transaction of $450,945.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.98% of the stock is currently owned by insiders.

Boise Cascade Trading Up 1.1%

Boise Cascade stock traded up $0.98 during trading on Thursday, reaching $87.71. 185,090 shares of the company were exchanged, compared to its average volume of 326,399. Boise Cascade has a 52-week low of $84.53 and a 52-week high of $155.42. The company has a market capitalization of $3.30 billion, a P/E ratio of 9.17 and a beta of 1.43. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92. The stock's 50 day simple moving average is $93.13 and its two-hundred day simple moving average is $112.94.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.53 billion. During the same quarter in the previous year, the business posted $2.61 EPS. The business's quarterly revenue was down 6.6% compared to the same quarter last year. On average, equities research analysts expect that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd will be given a $0.21 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 0.96%. Boise Cascade's payout ratio is currently 10.49%.

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.