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

Wedge Capital Management L L P NC raised its holdings in shares of Boise Cascade (NYSE:BCC - Free Report) by 1,572.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,445 shares of the construction company's stock after buying an additional 103,842 shares during the period. Wedge Capital Management L L P NC owned about 0.28% of Boise Cascade worth $14,287,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New York State Teachers Retirement System lifted its stake in Boise Cascade by 0.4% in the fourth quarter. New York State Teachers Retirement System now owns 30,844 shares of the construction company's stock worth $3,990,000 after acquiring an additional 108 shares during the period. Arizona State Retirement System boosted its stake in shares of Boise Cascade by 1.3% during the 3rd quarter. Arizona State Retirement System now owns 11,272 shares of the construction company's stock valued at $1,161,000 after purchasing an additional 145 shares in the last quarter. Hexagon Capital Partners LLC increased its position in shares of 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 buying an additional 187 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Boise Cascade by 2.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,429 shares of the construction company's stock worth $1,220,000 after buying an additional 188 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in Boise Cascade by 1,147.1% in the fourth quarter. Global Retirement Partners LLC now owns 212 shares of the construction company's stock worth $28,000 after buying an additional 195 shares during the period. 96.18% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Dean Michael Brown sold 11,117 shares of Boise Cascade stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $139.09, for a total value of $1,546,263.53. Following the completion of the sale, 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 Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.05% of the company's stock.

Boise Cascade Stock Up 4.6 %

BCC stock traded up $6.12 during trading on Tuesday, hitting $139.14. 399,674 shares of the stock traded hands, compared to its average volume of 299,156. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.46 and a quick ratio of 2.26. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 11.48 and a beta of 1.60. Boise Cascade has a 1 year low of $64.39 and a 1 year high of $154.67. The firm's 50 day moving average is $139.96 and its two-hundred day moving average is $124.88.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The construction company reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($0.01). The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.64 billion. Boise Cascade had a net margin of 7.07% and a return on equity of 21.94%. Boise Cascade's revenue was up 1.0% on a year-over-year basis. During the same period last year, the business earned $2.95 EPS. On average, sell-side analysts anticipate that Boise Cascade will post 11.5 EPS for the current year.

Boise Cascade Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Thursday, February 22nd. Boise Cascade's dividend payout ratio is currently 6.60%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BCC shares. The Goldman Sachs Group increased their target price on Boise Cascade from $114.00 to $129.00 and gave the stock a "neutral" rating in a research report on Thursday, January 11th. 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 report on Thursday, March 21st. Finally, StockNews.com downgraded shares of Boise Cascade from a "buy" rating to a "hold" rating in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $125.00.

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.