United Capital Management of KS Inc. Boosts Stake in Boise Cascade (NYSE:BCC)

United Capital Management of KS Inc. lifted its position in shares of Boise Cascade (NYSE:BCC) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,428 shares of the construction company’s stock after acquiring an additional 452 shares during the quarter. United Capital Management of KS Inc. owned 0.08% of Boise Cascade worth $3,498,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. HighTower Advisors LLC raised its position in shares of Boise Cascade by 139.1% during the 4th quarter. HighTower Advisors LLC now owns 4,507 shares of the construction company’s stock worth $536,000 after purchasing an additional 2,622 shares during the last quarter. Moran Wealth Management LLC raised its position in shares of Boise Cascade by 47.9% during the 4th quarter. Moran Wealth Management LLC now owns 39,420 shares of the construction company’s stock worth $4,685,000 after purchasing an additional 12,773 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Boise Cascade by 20.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,277 shares of the construction company’s stock worth $1,340,000 after purchasing an additional 1,947 shares during the last quarter. Amundi raised its position in shares of Boise Cascade by 100.0% during the 4th quarter. Amundi now owns 22,101 shares of the construction company’s stock worth $2,595,000 after purchasing an additional 11,052 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Boise Cascade during the 4th quarter worth about $1,601,000. 96.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BCC shares. BMO Capital Markets reduced their price target on shares of 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. DA Davidson cut their price objective on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a report on Monday, February 24th. The Goldman Sachs Group cut their price objective on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Benchmark reiterated a “hold” rating on shares of Boise Cascade in a report on Tuesday, February 25th. Finally, Truist Financial cut 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. 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $128.50.

Boise Cascade Stock Up 3.0 %

Shares of NYSE BCC opened at $99.29 on Friday. The company has a 50 day simple moving average of $116.93 and a 200-day simple moving average of $129.60. The company has a market capitalization of $3.77 billion, a P/E ratio of 10.39 and a beta of 1.67. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92. Boise Cascade has a 1 year low of $95.33 and a 1 year high of $155.42.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) 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 analyst estimates of $1.57 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. On average, equities research analysts predict that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

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

Insider Transactions at Boise Cascade

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 13,099 shares of the company’s stock, valued at $1,351,292.84. The trade was a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey Robert Strom sold 4,500 shares of the business’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 38,026 shares in the company, valued at approximately $3,810,585.46. The trade was a 10.58 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.05% 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.