KLP Kapitalforvaltning AS Takes $5.78 Million Position in Boise Cascade (NYSE:BCC)

KLP Kapitalforvaltning AS acquired a new position in Boise Cascade (NYSE:BCC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 48,600 shares of the construction company’s stock, valued at approximately $5,777,000. KLP Kapitalforvaltning AS owned approximately 0.13% of Boise Cascade as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC grew its position in shares of Boise Cascade by 23.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock worth $53,000 after buying an additional 73 shares in the last quarter. Invst LLC grew its holdings in Boise Cascade by 2.6% during the 3rd quarter. Invst LLC now owns 5,060 shares of the construction company’s stock worth $713,000 after acquiring an additional 128 shares in the last quarter. D.A. Davidson & CO. increased its position in Boise Cascade by 4.2% during the 4th quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company’s stock valued at $388,000 after purchasing an additional 133 shares during the period. Principal Securities Inc. raised its holdings 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 purchasing an additional 145 shares in the last quarter. Finally, Orion Portfolio Solutions LLC lifted its position in shares of Boise Cascade by 8.9% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 2,023 shares of the construction company’s stock worth $285,000 after purchasing an additional 165 shares during the period. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Truist Financial cut their price objective on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Loop Capital cut their price target on Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, February 24th. The Goldman Sachs Group decreased their price objective on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Benchmark reiterated a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Finally, BMO Capital Markets decreased their price target 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. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $128.50.

Insiders Place Their Bets

In other news, COO Jeffrey Robert Strom sold 4,500 shares of the stock in a transaction dated 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 directly owns 38,026 shares of the company’s stock, valued at approximately $3,810,585.46. This represents a 10.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kristopher J. Matula sold 553 shares of Boise Cascade stock in a transaction dated 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 of the company’s stock, valued at $1,351,292.84. This trade represents a 4.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.98% of the company’s stock.

Boise Cascade Stock Down 1.8 %

Shares of BCC stock opened at $101.39 on Wednesday. The stock’s fifty day moving average price is $113.97 and its 200 day moving average price is $127.86. Boise Cascade has a 1-year low of $95.33 and a 1-year high of $155.42. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 10.61 and a beta of 1.67. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.01). The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.57 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. On average, research analysts expect that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.83%. Boise Cascade’s payout ratio is 8.79%.

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.