Lazard Asset Management LLC Raises Stake in Boise Cascade (NYSE:BCC)

Lazard Asset Management LLC increased its position in Boise Cascade (NYSE:BCC - Free Report) by 23.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,057 shares of the construction company's stock after purchasing an additional 4,242 shares during the period. Lazard Asset Management LLC owned approximately 0.06% of Boise Cascade worth $2,621,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BCC. D.A. Davidson & CO. increased its stake in Boise Cascade by 4.2% during the 4th quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company's stock valued at $388,000 after purchasing an additional 133 shares in the last quarter. Barclays PLC increased its stake in Boise Cascade by 174.1% during the 3rd quarter. Barclays PLC now owns 90,366 shares of the construction company's stock valued at $12,739,000 after purchasing an additional 57,403 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Boise Cascade by 3.0% during 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 in the last quarter. Handelsbanken Fonder AB increased 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 valued at $951,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Principal Financial Group Inc. increased 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 valued at $24,761,000 after purchasing an additional 5,281 shares in the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Stock Performance

Shares of BCC traded down $0.49 on Thursday, reaching $86.84. The company's stock had a trading volume of 25,248 shares, compared to its average volume of 326,260. 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 has a market capitalization of $3.27 billion, a P/E ratio of 9.08 and a beta of 1.43. The stock's 50 day simple moving average is $94.70 and its two-hundred day simple moving average is $115.13. Boise Cascade has a 12-month low of $84.53 and a 12-month high of $155.42.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its quarterly earnings data 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). The business had revenue of $1.54 billion during 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 quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.61 EPS. Research analysts forecast that Boise Cascade will post 10.15 earnings per share 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 dividend yield of 0.97%. The ex-dividend date of this dividend is Monday, June 2nd. Boise Cascade's payout ratio is 10.49%.

Insider Buying and Selling

In related news, Director Kristopher J. Matula sold 553 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total value of $57,047.48. Following the transaction, the director now owns 13,099 shares of the company's stock, valued at approximately $1,351,292.84. This trade represents a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Jeffrey Robert Strom sold 4,500 shares of Boise Cascade stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total transaction of $450,945.00. Following the transaction, the chief operating officer now directly owns 38,026 shares in the company, valued at $3,810,585.46. This represents a 10.58% decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BCC. Benchmark restated a "hold" rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Truist Financial dropped their price target on shares of Boise Cascade from $134.00 to $118.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. BMO Capital Markets dropped 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 report on Tuesday, February 25th. DA Davidson dropped their price target on shares of Boise Cascade from $155.00 to $125.00 and set a "buy" rating on the stock in a report on Monday, February 24th. Finally, Loop Capital dropped their price target on shares of Boise Cascade from $140.00 to $135.00 and set a "buy" rating on the stock in a report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $125.00.

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.