Raymond James Financial Inc. Acquires New Position in Boise Cascade (NYSE:BCC)

Raymond James Financial Inc. bought a new stake in Boise Cascade (NYSE:BCC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 13,472 shares of the construction company's stock, valued at approximately $1,601,000.

Other large investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Boise Cascade in the 4th quarter worth $55,680,000. American Century Companies Inc. increased its holdings in shares of Boise Cascade by 12.0% during the fourth quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company's stock valued at $134,831,000 after acquiring an additional 121,790 shares in the last quarter. Barclays PLC increased its holdings in shares of Boise Cascade by 174.1% during the third quarter. Barclays PLC now owns 90,366 shares of the construction company's stock valued at $12,739,000 after acquiring an additional 57,403 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Boise Cascade in the 4th quarter valued at approximately $5,777,000. Finally, Trexquant Investment LP acquired a new stake in Boise Cascade in the 4th quarter worth approximately $5,705,000. Institutional investors own 96.18% of the company's stock.

Insider Activity

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of the business's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total value of $57,047.48. Following the transaction, the director now directly owns 13,099 shares in the company, valued at $1,351,292.84. The trade was a 4.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jeffrey Robert Strom sold 4,500 shares of Boise Cascade 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 completion of the sale, the chief operating officer now owns 38,026 shares in the company, valued at $3,810,585.46. This represents a 10.58 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.11% of the company's stock.

Boise Cascade Stock Performance

Shares of NYSE BCC traded up $1.76 during midday trading on Thursday, reaching $88.86. 26,281 shares of the stock were exchanged, compared to its average volume of 367,672. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 9.29 and a beta of 1.43. The firm has a 50-day simple moving average of $96.45 and a two-hundred day simple moving average of $118.17. Boise Cascade has a twelve month low of $84.53 and a twelve month high of $155.42.

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

Boise Cascade Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Monday, June 2nd. Boise Cascade's dividend payout ratio (DPR) is presently 10.49%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BCC. Truist Financial decreased their price target on shares of Boise Cascade from $134.00 to $118.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. The Goldman Sachs Group lowered their price target on Boise Cascade from $145.00 to $126.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. DA Davidson cut their price objective on Boise Cascade from $155.00 to $125.00 and set a "buy" rating on the stock in a report on Monday, February 24th. BMO Capital Markets decreased their target price on Boise Cascade from $136.00 to $122.00 and set a "market perform" rating for the company in a report on Tuesday, February 25th. Finally, Benchmark reiterated a "hold" rating on shares of Boise Cascade in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Boise Cascade currently has an average rating of "Hold" and a consensus price target of $125.00.

About Boise Cascade

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.