Boise Cascade (NYSE:BCC) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP lessened its holdings in shares of Boise Cascade (NYSE:BCC - Free Report) by 31.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,807 shares of the construction company's stock after selling 6,952 shares during the quarter. Two Sigma Investments LP's holdings in Boise Cascade were worth $1,760,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Norges Bank purchased a new position in shares of Boise Cascade in the fourth quarter worth about $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 during the last quarter. American Century Companies Inc. lifted its stake 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 worth $134,831,000 after purchasing an additional 121,790 shares in the last quarter. Tidal Investments LLC lifted its stake in Boise Cascade by 534.5% in the 4th quarter. Tidal Investments LLC now owns 100,295 shares of the construction company's stock worth $11,921,000 after purchasing an additional 84,487 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted 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 worth $13,048,000 after purchasing an additional 83,776 shares during the last quarter. Hedge funds and other institutional investors own 96.18% of the company's stock.

Boise Cascade Trading Down 0.9%

BCC stock traded down $0.77 during midday trading on Friday, hitting $86.71. 209,289 shares of the company's stock were exchanged, compared to its average volume of 327,001. Boise Cascade has a 1-year low of $83.86 and a 1-year high of $155.42. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $3.26 billion, a PE ratio of 9.07 and a beta of 1.36. The business has a 50-day simple moving average of $91.60 and a two-hundred day simple moving average of $110.72.

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). The business had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.53 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. The business's revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.61 earnings per share. On average, sell-side analysts predict that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Monday, June 2nd. Boise Cascade's dividend payout ratio is presently 10.49%.

Wall Street Analyst Weigh In

BCC has been the subject of several recent research reports. Benchmark reaffirmed a "hold" rating on shares of Boise Cascade in a report on Tuesday, February 25th. Loop Capital lowered their price objective 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. Truist Financial cut their target price on Boise Cascade from $134.00 to $118.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. DA Davidson reduced their price target on Boise Cascade from $155.00 to $125.00 and set a "buy" rating on the stock in a report on Monday, February 24th. Finally, BMO Capital Markets lowered their price target on shares of Boise Cascade from $136.00 to $122.00 and set a "market perform" rating on the stock in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Boise Cascade has an average rating of "Hold" and a consensus target price of $125.00.

Insider Activity

In related news, SVP Jill Twedt sold 1,200 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $88.01, for a total transaction of $105,612.00. Following the transaction, the senior vice president now owns 34,649 shares of the company's stock, valued at approximately $3,049,458.49. This represents a 3.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joanna L. Barney sold 1,000 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $87.68, for a total value of $87,680.00. Following the transaction, the executive vice president now owns 12,372 shares of the company's stock, valued at $1,084,776.96. This trade represents a 7.48% 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 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.