Bailard Inc. Grows Position in Boise Cascade (NYSE:BCC)

Bailard Inc. boosted its position in shares of Boise Cascade (NYSE:BCC) by 17.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 5,356 shares of the construction company’s stock after acquiring an additional 800 shares during the quarter. Bailard Inc.’s holdings in Boise Cascade were worth $637,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BCC. Tidal Investments LLC lifted its position in shares of Boise Cascade by 341.9% during the third quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock worth $2,229,000 after purchasing an additional 12,231 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Boise Cascade by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock valued at $61,680,000 after buying an additional 9,128 shares in the last quarter. Fulcrum Capital LLC purchased a new stake in Boise Cascade in the 4th quarter valued at about $1,092,000. D.A. Davidson & CO. grew its stake 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 worth $388,000 after acquiring an additional 133 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Boise Cascade by 5.0% during the fourth quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company’s stock worth $14,454,000 after acquiring an additional 5,779 shares during the period. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Price Performance

Shares of BCC stock opened at $98.20 on Wednesday. The stock’s 50-day moving average is $120.34 and its 200 day moving average is $131.36. Boise Cascade has a 1-year low of $97.21 and a 1-year high of $155.42. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92. The company has a market cap of $3.73 billion, a P/E ratio of 10.27 and a beta of 1.57.

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 net margin of 5.60% and a return on equity of 17.04%. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.57 billion. Research analysts predict that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Monday, February 24th. Boise Cascade’s dividend payout ratio is currently 8.79%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Loop Capital lowered their price target on Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a report on Monday, February 24th. Truist Financial dropped their price target on Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Benchmark restated a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. The Goldman Sachs Group lowered their price objective on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Finally, BMO Capital Markets cut 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 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 assigned a buy rating to the stock. According to data from MarketBeat.com, Boise Cascade has a consensus rating of “Hold” and an average target price of $128.50.

Insider Activity

In related news, Director Kristopher J. Matula sold 553 shares of the business’s 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 transaction, the director now directly owns 13,099 shares in the company, valued at $1,351,292.84. The trade was a 4.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.98% of the company’s stock.

About Boise Cascade

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.