United Capital Management of KS Inc. Buys New Shares in Boise Cascade (NYSE:BCC)

United Capital Management of KS Inc. acquired a new position in shares of Boise Cascade (NYSE:BCC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 26,784 shares of the construction company's stock, valued at approximately $3,465,000. United Capital Management of KS Inc. owned about 0.07% of Boise Cascade as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. HighTower Advisors LLC acquired a new stake in shares of Boise Cascade in the first quarter valued at approximately $213,000. Citigroup Inc. raised its position in shares of Boise Cascade by 7.0% in the first quarter. Citigroup Inc. now owns 42,016 shares of the construction company's stock valued at $2,919,000 after buying an additional 2,737 shares in the last quarter. Bank of Montreal Can raised its position in shares of Boise Cascade by 5.0% in the first quarter. Bank of Montreal Can now owns 12,598 shares of the construction company's stock valued at $933,000 after buying an additional 598 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of Boise Cascade by 56.7% in the first quarter. MetLife Investment Management LLC now owns 20,948 shares of the construction company's stock valued at $1,455,000 after buying an additional 7,576 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Boise Cascade by 3.0% in the first quarter. Rhumbline Advisers now owns 109,084 shares of the construction company's stock valued at $7,578,000 after acquiring an additional 3,138 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BCC. Truist Financial lifted their price objective on shares of Boise Cascade from $156.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, March 21st. StockNews.com cut shares of Boise Cascade from a "buy" rating to a "hold" rating in a research note on Friday, February 23rd. Finally, The Goldman Sachs Group lifted their price objective on shares of Boise Cascade from $114.00 to $129.00 and gave the company a "neutral" rating in a research note on Thursday, January 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $125.00.

Boise Cascade Price Performance

Shares of NYSE BCC traded up $0.47 during midday trading on Monday, reaching $152.47. 188,287 shares of the company were exchanged, compared to its average volume of 289,086. The stock's 50-day moving average price is $138.83 and its 200-day moving average price is $121.97. The stock has a market cap of $6.03 billion, a P/E ratio of 12.58 and a beta of 1.60. Boise Cascade has a one year low of $60.55 and a one year high of $154.67. The company has a quick ratio of 2.26, a current ratio of 3.46 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its earnings results on Wednesday, February 21st. The construction company reported $2.44 earnings per share for the quarter, missing analysts' consensus estimates of $2.45 by ($0.01). Boise Cascade had a return on equity of 21.94% and a net margin of 7.07%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the previous year, the firm posted $2.95 EPS. The business's quarterly revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Boise Cascade will post 11.58 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 23rd were paid a $0.20 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.52%. Boise Cascade's dividend payout ratio is 6.60%.

Insider Buying and Selling

In related news, EVP Dean Michael Brown sold 11,117 shares of the business's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $139.09, for a total value of $1,546,263.53. Following the sale, the executive vice president now owns 40,237 shares of the company's stock, valued at $5,596,564.33. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.05% of the stock is currently owned by 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.