Farringdon Capital Ltd. Makes New $265,000 Investment in Boise Cascade (NYSE:BCC)

Farringdon Capital Ltd. purchased a new stake in shares of Boise Cascade (NYSE:BCC) during the fourth quarter, Holdings Channel reports. The fund purchased 2,226 shares of the construction company’s stock, valued at approximately $265,000.

Other institutional investors and hedge funds have also modified their holdings of the company. R Squared Ltd bought a new position in Boise Cascade during the fourth quarter valued at about $29,000. Principal Securities Inc. raised its stake in shares of Boise Cascade by 44.2% in the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock valued at $56,000 after acquiring an additional 145 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Boise Cascade by 254.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company’s stock worth $92,000 after purchasing an additional 558 shares during the last quarter. PEAK6 LLC acquired a new stake in Boise Cascade in the 4th quarter worth approximately $201,000. Finally, KBC Group NV boosted its position in Boise Cascade by 41.3% during the fourth quarter. KBC Group NV now owns 1,732 shares of the construction company’s stock worth $206,000 after purchasing an additional 506 shares during the period. Institutional investors and hedge funds own 96.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BCC shares. Benchmark restated a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Loop Capital cut their target price on shares of Boise Cascade from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, April 14th. The Goldman Sachs Group lowered their price target on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock 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 for the company in a research report on Monday, February 24th. Finally, BMO Capital Markets lowered their target price on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Boise Cascade has a consensus rating of “Hold” and an average price target of $127.67.

Boise Cascade Stock Up 0.7 %

Shares of BCC opened at $93.37 on Friday. Boise Cascade has a 52 week low of $87.84 and a 52 week high of $155.42. The firm has a market capitalization of $3.55 billion, a P/E ratio of 9.77 and a beta of 1.52. The company has a 50-day simple moving average of $102.24 and a 200-day simple moving average of $122.86. 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) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). The firm had revenue of $1.57 billion during 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%. On average, equities research analysts expect that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Monday, February 24th. Boise Cascade’s dividend payout ratio (DPR) is presently 8.79%.

Insider Activity

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total value of $57,047.48. Following the sale, the director now directly owns 13,099 shares in the company, valued at $1,351,292.84. This represents a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Jeffrey Robert Strom sold 4,500 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total value of $450,945.00. Following the transaction, the chief operating officer now 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 disclosure for this sale can be found here. Corporate insiders own 1.11% of the company’s stock.

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.