Peregrine Capital Management LLC Has $9.82 Million Stock Position in Boise Cascade (NYSE:BCC)

Peregrine Capital Management LLC cut its stake in shares of Boise Cascade (NYSE:BCC - Free Report) by 23.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 75,886 shares of the construction company's stock after selling 22,969 shares during the period. Peregrine Capital Management LLC owned about 0.19% of Boise Cascade worth $9,817,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Neo Ivy Capital Management purchased a new position in Boise Cascade during the second quarter valued at approximately $25,000. Global Retirement Partners LLC grew its position in Boise Cascade by 1,147.1% during the fourth quarter. Global Retirement Partners LLC now owns 212 shares of the construction company's stock valued at $28,000 after purchasing an additional 195 shares in the last quarter. Hexagon Capital Partners LLC grew its position in Boise Cascade by 76.0% during the third quarter. Hexagon Capital Partners LLC now owns 433 shares of the construction company's stock valued at $45,000 after purchasing an additional 187 shares in the last quarter. Penserra Capital Management LLC purchased a new position in Boise Cascade during the third quarter valued at approximately $52,000. Finally, Blue Trust Inc. grew its position in Boise Cascade by 58.1% during the fourth quarter. Blue Trust Inc. now owns 544 shares of the construction company's stock valued at $70,000 after purchasing an additional 200 shares in the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Truist Financial boosted their price objective on shares of Boise Cascade from $156.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, March 21st. StockNews.com downgraded shares of Boise Cascade from a "buy" rating to a "hold" rating in a research report on Friday, February 23rd. Finally, The Goldman Sachs Group boosted their target price on shares of Boise Cascade from $114.00 to $129.00 and gave the stock a "neutral" rating in a research report on Thursday, January 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Boise Cascade presently has a consensus rating of "Hold" and a consensus target price of $125.00.

Insider Transactions at Boise Cascade

In related news, EVP Dean Michael Brown sold 11,117 shares of the company's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $139.09, for a total transaction of $1,546,263.53. Following the completion of the transaction, the executive vice president now directly owns 40,237 shares in the company, valued at approximately $5,596,564.33. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.98% of the stock is owned by corporate insiders.

Boise Cascade Stock Performance

Shares of Boise Cascade stock traded up $0.59 on Tuesday, reaching $153.02. The stock had a trading volume of 304,099 shares, compared to its average volume of 289,306. The business's 50-day moving average price is $139.14 and its two-hundred day moving average price is $122.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.26 and a current ratio of 3.46. Boise Cascade has a fifty-two week low of $60.55 and a fifty-two week high of $154.67. The stock has a market cap of $6.05 billion, a P/E ratio of 12.63 and a beta of 1.60.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the firm posted $2.95 earnings per share. Boise Cascade's quarterly revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts forecast that Boise Cascade will post 11.58 EPS for the current year.

Boise Cascade Dividend Announcement

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

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.