Wedge Capital Management L L P NC Grows Stock Holdings in Boise Cascade (NYSE:BCC)

Wedge Capital Management L L P NC boosted its holdings in shares of Boise Cascade (NYSE:BCC - Free Report) by 19.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 117,638 shares of the construction company's stock after buying an additional 18,967 shares during the period. Wedge Capital Management L L P NC owned approximately 0.31% of Boise Cascade worth $11,539,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vest Financial LLC grew its position in Boise Cascade by 89.6% during the fourth quarter. Vest Financial LLC now owns 19,853 shares of the construction company's stock valued at $2,360,000 after acquiring an additional 9,381 shares during the last quarter. Empowered Funds LLC grew its position in shares of Boise Cascade by 2.5% in the 4th quarter. Empowered Funds LLC now owns 21,176 shares of the construction company's stock worth $2,517,000 after buying an additional 513 shares during the last quarter. Regents Gate Capital LLP purchased a new position in Boise Cascade during the 4th quarter valued at $1,185,000. Van ECK Associates Corp grew its holdings in shares of Boise Cascade by 27.8% during the 4th quarter. Van ECK Associates Corp now owns 31,203 shares of the construction company's stock worth $3,709,000 after acquiring an additional 6,788 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of Boise Cascade by 6.2% in the 4th quarter. Rhumbline Advisers now owns 120,180 shares of the construction company's stock valued at $14,285,000 after purchasing an additional 7,025 shares during the period. Hedge funds and other institutional investors own 96.18% of the company's stock.

Wall Street Analyst Weigh In

BCC has been the subject of a number of recent research reports. Truist Financial lowered their price target on shares of Boise Cascade from $134.00 to $118.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Loop Capital decreased their price objective on shares of Boise Cascade from $140.00 to $135.00 and set a "buy" rating for the company in a report on Monday, April 14th. BMO Capital Markets dropped their target price on 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. Benchmark reaffirmed a "hold" rating on shares of Boise Cascade in a report on Tuesday, February 25th. Finally, DA Davidson dropped their price target on shares of Boise Cascade from $155.00 to $125.00 and set a "buy" rating for the company in a research report on Monday, February 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Boise Cascade has an average rating of "Hold" and an average target price of $125.00.

Boise Cascade Price Performance

Boise Cascade stock traded down $0.53 during midday trading on Thursday, reaching $87.86. 274,721 shares of the stock traded hands, compared to its average volume of 326,649. The stock has a market cap of $3.31 billion, a P/E ratio of 9.19 and a beta of 1.37. The stock's fifty day moving average is $91.10 and its 200-day moving average is $109.66. 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 has a 12 month low of $83.86 and a 12 month 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 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 the consensus estimate of $1.53 billion. During the same quarter in the prior year, the company posted $2.61 earnings per share. The firm's revenue was down 6.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.84 annualized dividend and a yield of 0.96%. Boise Cascade's dividend payout ratio (DPR) is currently 10.49%.

Insider Buying and Selling at Boise Cascade

In related news, EVP Joanna L. Barney sold 1,000 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was 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 represents a 7.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 in the company, valued at approximately $3,049,458.49. The trade was a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.11% of the stock is owned by company insiders.

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.