Mirae Asset Global Investments Co. Ltd. Has $3.83 Million Stake in Boise Cascade (NYSE:BCC)

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Boise Cascade (NYSE:BCC - Free Report) by 50.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,624 shares of the construction company's stock after purchasing an additional 9,928 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.07% of Boise Cascade worth $3,832,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Boise Cascade in the 4th quarter valued at approximately $35,996,000. Wellington Management Group LLP raised its stake in shares of Boise Cascade by 45.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,349,170 shares of the construction company's stock valued at $139,018,000 after acquiring an additional 418,891 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Boise Cascade by 59.7% in the 4th quarter. Pacer Advisors Inc. now owns 1,096,986 shares of the construction company's stock valued at $141,906,000 after acquiring an additional 409,906 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of Boise Cascade by 10,958.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 263,300 shares of the construction company's stock valued at $23,789,000 after acquiring an additional 260,919 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Boise Cascade by 257.5% in the 2nd quarter. FMR LLC now owns 302,851 shares of the construction company's stock valued at $18,016,000 after acquiring an additional 218,130 shares in the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Boise Cascade

In other news, EVP Dean Michael Brown sold 11,117 shares of Boise Cascade stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $139.09, for a total transaction of $1,546,263.53. Following the sale, the executive vice president now owns 40,237 shares of the company's stock, valued at approximately $5,596,564.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.05% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BCC has been the topic of a number of recent analyst reports. Truist Financial raised their price objective on 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 lowered Boise Cascade from a "buy" rating to a "hold" rating in a report on Friday, February 23rd. Finally, The Goldman Sachs Group raised their target price on Boise Cascade from $114.00 to $129.00 and gave the company a "neutral" rating in a report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $125.00.

Boise Cascade Stock Performance

BCC traded down $1.03 during midday trading on Wednesday, reaching $137.88. The company's stock had a trading volume of 286,229 shares, compared to its average volume of 295,673. The stock has a market cap of $5.45 billion, a P/E ratio of 11.38 and a beta of 1.60. The company has a fifty day simple moving average of $140.34 and a 200 day simple moving average of $124.01. The company has a current ratio of 3.46, a quick ratio of 2.26 and a debt-to-equity ratio of 0.22. Boise Cascade has a twelve month low of $64.39 and a twelve month high of $154.67.

Boise Cascade (NYSE:BCC - Get Free Report) last released its earnings results on Wednesday, February 21st. The construction company reported $2.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.45 by ($0.01). Boise Cascade had a net margin of 7.07% and a return on equity of 21.94%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period last year, the business earned $2.95 EPS. The business's quarterly revenue was up 1.0% compared to the same quarter last year. Research analysts expect that Boise Cascade will post 11.58 earnings per share 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 issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Thursday, February 22nd. Boise Cascade's payout ratio is presently 6.60%.

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.