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

Wedge Capital Management L L P NC boosted its holdings in Boise Cascade (NYSE:BCC - Free Report) by 19.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 117,638 shares of the construction company's stock after purchasing an additional 18,967 shares during the quarter. Wedge Capital Management L L P NC owned about 0.31% of Boise Cascade worth $11,539,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in BCC. D.A. Davidson & CO. grew its holdings in shares of Boise Cascade by 4.2% during the fourth quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company's stock worth $388,000 after purchasing an additional 133 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Boise Cascade by 3.0% in the 4th quarter. Bank of New York Mellon Corp now owns 446,350 shares of the construction company's stock valued at $53,053,000 after purchasing an additional 12,963 shares during the period. Handelsbanken Fonder AB grew its stake in Boise Cascade by 19.4% during the 4th quarter. Handelsbanken Fonder AB now owns 8,000 shares of the construction company's stock worth $951,000 after buying an additional 1,300 shares during the last quarter. Principal Financial Group Inc. grew its stake in Boise Cascade by 2.6% during the 4th quarter. Principal Financial Group Inc. now owns 208,323 shares of the construction company's stock worth $24,761,000 after buying an additional 5,281 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in Boise Cascade by 139.1% during the fourth quarter. HighTower Advisors LLC now owns 4,507 shares of the construction company's stock worth $536,000 after buying an additional 2,622 shares during the period. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BCC shares. Benchmark reissued a "hold" rating on shares of Boise Cascade in a report on Tuesday, February 25th. DA Davidson decreased 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 note on Monday, February 24th. BMO Capital Markets lowered their price objective 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. Truist Financial reduced their target price 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 decreased their target price on shares of Boise Cascade from $140.00 to $135.00 and set a "buy" rating for the company in a research note on Monday, April 14th. One equities 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 stock. Based on data from MarketBeat, Boise Cascade has a consensus rating of "Hold" and a consensus price target of $125.00.

Insiders Place Their Bets

In other news, EVP Joanna L. Barney sold 1,000 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $87.68, for a total transaction of $87,680.00. Following the transaction, the executive vice president now directly owns 12,372 shares of the company's stock, valued at $1,084,776.96. This represents a 7.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jill Twedt sold 1,200 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $88.01, for a total transaction of $105,612.00. Following the completion of the transaction, the senior vice president now owns 34,649 shares of the company's stock, valued at $3,049,458.49. This represents a 3.35% decrease in their position. The disclosure for this sale can be found here. 1.11% of the stock is currently owned by insiders.

Boise Cascade Stock Performance

NYSE:BCC traded down $1.70 during midday trading on Wednesday, reaching $88.53. The stock had a trading volume of 212,273 shares, compared to its average volume of 326,857. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22. The stock has a market cap of $3.33 billion, a P/E ratio of 9.26 and a beta of 1.37. The firm has a fifty day simple moving average of $91.10 and a two-hundred day simple moving average of $109.66. 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 issued its earnings results on Monday, May 5th. The construction company reported $1.06 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.53 billion. During the same period in the previous year, the firm earned $2.61 EPS. The firm's revenue was down 6.6% on a year-over-year basis. On average, equities analysts expect that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors 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 0.95%. Boise Cascade's payout ratio is currently 10.49%.

About Boise Cascade

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.