Schonfeld Strategic Advisors LLC Makes New $5.97 Million Investment in Boise Cascade (NYSE:BCC)

Schonfeld Strategic Advisors LLC purchased a new stake in Boise Cascade (NYSE:BCC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 50,237 shares of the construction company's stock, valued at approximately $5,971,000. Schonfeld Strategic Advisors LLC owned 0.13% of Boise Cascade as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Norges Bank bought a new stake in Boise Cascade during the 4th quarter valued at $55,680,000. First Trust Advisors LP grew its position in shares of Boise Cascade by 37.9% in the fourth quarter. First Trust Advisors LP now owns 712,527 shares of the construction company's stock valued at $84,691,000 after purchasing an additional 195,773 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Boise Cascade by 12.0% during the 4th quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company's stock valued at $134,831,000 after purchasing an additional 121,790 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in Boise Cascade by 322.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 109,770 shares of the construction company's stock worth $13,048,000 after purchasing an additional 83,776 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Boise Cascade by 17.8% in the 4th quarter. Northern Trust Corp now owns 483,165 shares of the construction company's stock worth $57,429,000 after purchasing an additional 73,061 shares during the period. Institutional investors own 96.18% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on BCC. Loop Capital decreased their price target on Boise Cascade from $140.00 to $135.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. BMO Capital Markets lowered their target price on shares of Boise Cascade from $136.00 to $122.00 and set a "market perform" rating on the stock in a research note on Tuesday, February 25th. The Goldman Sachs Group reduced their price target on shares of Boise Cascade from $145.00 to $126.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. Truist Financial lowered their price objective on Boise Cascade from $134.00 to $118.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, Benchmark restated a "hold" rating on shares of Boise Cascade in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Boise Cascade currently has an average rating of "Hold" and a consensus target price of $125.00.

Insider Buying and Selling at Boise Cascade

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

Boise Cascade Stock Performance

NYSE BCC opened at $92.71 on Friday. Boise Cascade has a 52-week low of $87.84 and a 52-week high of $155.42. The company has a fifty day moving average of $97.52 and a 200-day moving average of $119.62. The company has a market capitalization of $3.53 billion, a P/E ratio of 9.70 and a beta of 1.52. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.01). The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. As a group, equities research analysts predict that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.91%. Boise Cascade's dividend payout ratio is currently 8.79%.

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.

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