Renaissance Technologies LLC Trims Stake in Boise Cascade (NYSE:BCC)

Renaissance Technologies LLC lessened its position in Boise Cascade (NYSE:BCC) by 13.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 164,049 shares of the construction company’s stock after selling 26,400 shares during the period. Renaissance Technologies LLC’s holdings in Boise Cascade were worth $19,499,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. American Century Companies Inc. lifted its stake in Boise Cascade by 12.0% in the fourth quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock worth $134,831,000 after purchasing an additional 121,790 shares during the last quarter. Norges Bank purchased a new stake in shares of Boise Cascade in the fourth quarter worth approximately $55,680,000. Bank of New York Mellon Corp raised its holdings in shares of Boise Cascade by 3.0% in the fourth quarter. Bank of New York Mellon Corp now owns 446,350 shares of the construction company’s stock worth $53,053,000 after buying an additional 12,963 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Boise Cascade by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 443,691 shares of the construction company’s stock worth $52,737,000 after acquiring an additional 6,182 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Boise Cascade by 8.7% during the 4th quarter. Invesco Ltd. now owns 358,368 shares of the construction company’s stock valued at $42,596,000 after acquiring an additional 28,814 shares during the period. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Stock Up 0.9 %

Shares of NYSE BCC opened at $95.51 on Monday. Boise Cascade has a 12-month low of $87.84 and a 12-month high of $155.42. The stock’s fifty day simple moving average is $104.66 and its two-hundred day simple moving average is $123.94. The stock has a market capitalization of $3.62 billion, a PE ratio of 9.99 and a beta of 1.52. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last posted its 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 company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. As a group, analysts expect that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors 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 annualized dividend and a dividend yield of 0.88%. Boise Cascade’s dividend payout ratio (DPR) is presently 8.79%.

Insider Activity at Boise Cascade

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

Analyst Ratings Changes

A number of analysts have weighed in on BCC shares. Loop Capital reduced their target price on Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Truist Financial decreased their price objective on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a report on Monday, February 24th. BMO Capital Markets dropped 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. DA Davidson reduced their target price on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Finally, 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 report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $128.50.

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.