Boise Cascade (NYSE:BCC) Position Lessened by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp lowered its stake in shares of Boise Cascade (NYSE:BCC - Free Report) by 41.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,900 shares of the construction company's stock after selling 6,200 shares during the period. OMERS ADMINISTRATION Corp's holdings in Boise Cascade were worth $1,058,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Boise Cascade by 65.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,829 shares of the construction company's stock worth $4,259,000 after buying an additional 14,155 shares during the last quarter. Lazard Asset Management LLC grew its position in Boise Cascade by 23.8% during the fourth quarter. Lazard Asset Management LLC now owns 22,057 shares of the construction company's stock valued at $2,621,000 after acquiring an additional 4,242 shares during the period. Hudson Bay Capital Management LP increased its stake in Boise Cascade by 5.3% during the fourth quarter. Hudson Bay Capital Management LP now owns 40,000 shares of the construction company's stock worth $4,754,000 after acquiring an additional 2,000 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in Boise Cascade during the fourth quarter worth about $728,000. Finally, Deutsche Bank AG raised its holdings in shares of Boise Cascade by 43.2% in the 4th quarter. Deutsche Bank AG now owns 37,167 shares of the construction company's stock worth $4,418,000 after purchasing an additional 11,220 shares during the period. Institutional investors and hedge funds own 96.18% of the company's stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BCC. Loop Capital decreased their target price on Boise Cascade from $140.00 to $135.00 and set a "buy" rating for the company in a report on Monday, April 14th. DA Davidson decreased their price objective on shares of Boise Cascade from $155.00 to $125.00 and set a "buy" rating for the company in a research note on Monday, February 24th. BMO Capital Markets dropped their price objective on shares of Boise Cascade from $136.00 to $122.00 and set a "market perform" rating for the company in a research report on Tuesday, February 25th. Truist Financial reduced their target price 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. Finally, Benchmark reaffirmed a "hold" rating on shares of Boise Cascade in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $125.00.

Boise Cascade Stock Down 0.3%

NYSE:BCC traded down $0.27 during trading hours on Thursday, hitting $87.07. The stock had a trading volume of 27,360 shares, compared to its average volume of 326,278. The company has a market cap of $3.28 billion, a PE ratio of 9.12 and a beta of 1.43. The business has a 50 day simple moving average of $94.70 and a two-hundred day simple moving average of $115.13. Boise Cascade has a 1-year low of $84.53 and a 1-year high of $155.42. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The construction company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.30). Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. The firm had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.53 billion. During the same period last year, the firm earned $2.61 EPS. The business's quarterly revenue was down 6.6% on a year-over-year basis. Analysts predict that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Monday, June 2nd. Boise Cascade's payout ratio is 10.49%.

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.