Summit Global Investments Has $1.08 Million Position in Boise Cascade (NYSE:BCC)

Summit Global Investments reduced its position in shares of Boise Cascade (NYSE:BCC) by 13.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 9,088 shares of the construction company’s stock after selling 1,430 shares during the quarter. Summit Global Investments’ holdings in Boise Cascade were worth $1,080,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of BCC. Segall Bryant & Hamill LLC boosted its position in shares of Boise Cascade by 2.0% during the third quarter. Segall Bryant & Hamill LLC now owns 14,254 shares of the construction company’s stock worth $2,010,000 after buying an additional 285 shares during the period. Jennison Associates LLC acquired a new position in shares of Boise Cascade during the third quarter worth about $862,000. Intech Investment Management LLC boosted its position in shares of Boise Cascade by 98.3% during the third quarter. Intech Investment Management LLC now owns 13,784 shares of the construction company’s stock worth $1,943,000 after buying an additional 6,832 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Boise Cascade by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock worth $61,680,000 after buying an additional 9,128 shares during the period. Finally, Citigroup Inc. boosted its position in Boise Cascade by 49.0% during the third quarter. Citigroup Inc. now owns 57,546 shares of the construction company’s stock valued at $8,113,000 after purchasing an additional 18,933 shares during the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Boise Cascade

In other Boise Cascade news, COO Jeffrey Robert Strom sold 4,500 shares of the firm’s 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 transaction, the chief operating officer now owns 38,026 shares in the company, valued at $3,810,585.46. This trade represents a 10.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kristopher J. Matula sold 553 shares of the firm’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 transaction, the director now owns 13,099 shares in the company, valued at approximately $1,351,292.84. This trade represents a 4.05 % decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is owned by corporate insiders.

Boise Cascade Price Performance

NYSE:BCC opened at $99.46 on Friday. 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 stock’s 50 day moving average price is $114.75 and its two-hundred day moving average price is $128.15. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 10.40 and a beta of 1.67. Boise Cascade has a 12-month low of $95.33 and a 12-month high of $155.42.

Boise Cascade (NYSE:BCC) last announced its 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). 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%. On average, analysts anticipate that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on BCC shares. Loop Capital reduced their price target on Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, February 24th. DA Davidson reduced their price target 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. BMO Capital Markets reduced their price target on 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. Benchmark reissued a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. Finally, The Goldman Sachs Group reduced their price target on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.