Wedge Capital Management L L P NC Boosts Stake in Boise Cascade (NYSE:BCC)

Wedge Capital Management L L P NC boosted its stake in Boise Cascade (NYSE:BCCFree Report) by 19.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 117,638 shares of the construction company’s stock after buying an additional 18,967 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.31% of Boise Cascade worth $11,539,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. Vise Technologies Inc. raised its holdings in Boise Cascade by 3.4% in the 4th quarter. Vise Technologies Inc. now owns 3,021 shares of the construction company’s stock valued at $359,000 after acquiring an additional 100 shares during the last quarter. D.A. Davidson & CO. raised its holdings in Boise Cascade by 4.2% in the 4th quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company’s stock valued at $388,000 after acquiring an additional 133 shares during the last quarter. Principal Securities Inc. raised its holdings in 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 during the last quarter. Peak Financial Advisors LLC raised its holdings in Boise Cascade by 4.8% in the 1st quarter. Peak Financial Advisors LLC now owns 3,624 shares of the construction company’s stock valued at $355,000 after acquiring an additional 166 shares during the last quarter. Finally, Bridge City Capital LLC raised its holdings in Boise Cascade by 0.9% in the 4th quarter. Bridge City Capital LLC now owns 21,528 shares of the construction company’s stock valued at $2,559,000 after acquiring an additional 192 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Boise Cascade Stock Down 0.9%

Shares of NYSE BCC opened at $86.71 on Monday. Boise Cascade has a 12-month low of $83.86 and a 12-month high of $155.42. The company has a market cap of $3.26 billion, a P/E ratio of 9.07 and a beta of 1.36. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22. The stock has a fifty day moving average price of $91.60 and a 200 day moving average price of $110.33.

Boise Cascade (NYSE:BCCGet Free Report) last announced its quarterly earnings results on Monday, May 5th. The construction company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.30). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the company posted $2.61 earnings per share. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. Research analysts anticipate that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, June 2nd will be issued a $0.21 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.84 annualized dividend and a yield of 0.97%. Boise Cascade’s dividend payout ratio is currently 10.49%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Loop Capital cut their price target on Boise Cascade from $140.00 to $135.00 and set a “buy” rating for the company in a report on Monday, April 14th. Truist Financial dropped their price objective on Boise Cascade from $134.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Benchmark restated a “hold” rating on shares of Boise Cascade in a report on Tuesday, February 25th. DA Davidson dropped their price objective on Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a report on Monday, February 24th. Finally, BMO Capital Markets dropped their price objective on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $125.00.

Read Our Latest Analysis on Boise Cascade

Insider Buying and Selling at Boise Cascade

In other Boise Cascade news, SVP Jill Twedt sold 1,200 shares of the company’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $88.01, for a total value of $105,612.00. Following the completion of the transaction, the senior vice president now directly owns 34,649 shares of the company’s stock, valued at $3,049,458.49. This represents a 3.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Joanna L. Barney sold 1,000 shares of the company’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $87.68, for a total transaction of $87,680.00. Following the completion of the transaction, the executive vice president now directly owns 12,372 shares of the company’s stock, valued at approximately $1,084,776.96. The trade was a 7.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by corporate insiders.

Boise Cascade Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Boise Cascade (NYSE:BCC)

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