Martingale Asset Management L P Increases Stake in Boise Cascade (NYSE:BCC)

Martingale Asset Management L P lifted its stake in shares of Boise Cascade (NYSE:BCC) by 3.1% during the 4th quarter, HoldingsChannel reports. The fund owned 30,797 shares of the construction company’s stock after acquiring an additional 929 shares during the period. Martingale Asset Management L P’s holdings in Boise Cascade were worth $3,661,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Tidal Investments LLC lifted its holdings in shares of Boise Cascade by 341.9% during the 3rd quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock worth $2,229,000 after acquiring an additional 12,231 shares during the period. Fulcrum Capital LLC purchased a new position in Boise Cascade in the fourth quarter valued at approximately $1,092,000. D.A. Davidson & CO. raised its holdings in Boise Cascade by 4.2% in the fourth quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company’s stock valued at $388,000 after buying an additional 133 shares during the period. Nordea Investment Management AB raised its holdings in Boise Cascade by 5.0% in the fourth quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company’s stock valued at $14,454,000 after buying an additional 5,779 shares during the period. Finally, Barclays PLC raised its holdings in Boise Cascade by 174.1% in the third quarter. Barclays PLC now owns 90,366 shares of the construction company’s stock valued at $12,739,000 after buying an additional 57,403 shares during the period. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Boise Cascade Stock Up 9.7 %

Shares of NYSE:BCC opened at $98.65 on Thursday. Boise Cascade has a 52-week low of $87.84 and a 52-week high of $155.42. 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 company has a market capitalization of $3.74 billion, a price-to-earnings ratio of 10.32 and a beta of 1.52. The company has a 50 day moving average of $105.88 and a two-hundred day moving average of $124.67.

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

Boise Cascade Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Monday, February 24th. Boise Cascade’s payout ratio is currently 8.79%.

Analyst Ratings Changes

Several research firms recently commented on BCC. BMO Capital Markets cut their price target on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a report on Tuesday, February 25th. Loop Capital cut their price target on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, February 24th. DA Davidson cut their price target on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Benchmark restated a “hold” rating on shares of Boise Cascade in a report on Tuesday, February 25th. Finally, Truist Financial cut their price target 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. One research 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 data from MarketBeat.com, Boise Cascade has an average rating of “Hold” and an average price target of $128.50.

Insider Transactions at Boise Cascade

In other Boise Cascade news, 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 transaction, the chief operating officer now owns 38,026 shares of the company’s stock, valued at $3,810,585.46. The trade was a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kristopher J. Matula sold 553 shares of Boise Cascade 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 completion of 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.98% of the company’s stock.

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.