1,649 Shares in Boise Cascade (NYSE:BCC) Bought by Highland Capital Management LLC

Highland Capital Management LLC purchased a new position in shares of Boise Cascade (NYSE:BCC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,649 shares of the construction company’s stock, valued at approximately $213,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. HighTower Advisors LLC purchased a new position in Boise Cascade in the first quarter valued at approximately $213,000. Citigroup Inc. increased its position in Boise Cascade by 7.0% in the 1st quarter. Citigroup Inc. now owns 42,016 shares of the construction company’s stock valued at $2,919,000 after acquiring an additional 2,737 shares during the period. Bank of Montreal Can lifted its position in Boise Cascade by 5.0% during the 1st quarter. Bank of Montreal Can now owns 12,598 shares of the construction company’s stock worth $933,000 after acquiring an additional 598 shares during the period. MetLife Investment Management LLC grew its stake in shares of Boise Cascade by 56.7% in the 1st quarter. MetLife Investment Management LLC now owns 20,948 shares of the construction company’s stock valued at $1,455,000 after purchasing an additional 7,576 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Boise Cascade by 3.0% during the first quarter. Rhumbline Advisers now owns 109,084 shares of the construction company’s stock worth $7,578,000 after purchasing an additional 3,138 shares during the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Dean Michael Brown sold 11,117 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $139.09, for a total value of $1,546,263.53. Following the sale, the executive vice president now directly owns 40,237 shares in the company, valued at approximately $5,596,564.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.89% of the stock is owned by company insiders.

Boise Cascade Stock Performance

Boise Cascade stock opened at $151.90 on Thursday. The stock has a market cap of $6.01 billion, a P/E ratio of 12.53 and a beta of 1.59. The stock has a 50 day moving average of $136.04 and a 200-day moving average of $119.01. The company has a current ratio of 3.46, a quick ratio of 2.26 and a debt-to-equity ratio of 0.22. Boise Cascade has a 52 week low of $59.90 and a 52 week high of $154.01.

Boise Cascade (NYSE:BCC) last issued its earnings results on Wednesday, February 21st. The construction company reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($0.01). The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.64 billion. Boise Cascade had a return on equity of 21.94% and a net margin of 7.07%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the company posted $2.95 earnings per share. On average, analysts expect that Boise Cascade will post 11.58 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 23rd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.53%. Boise Cascade’s dividend payout ratio is currently 6.60%.

Analyst Ratings Changes

A number of research firms recently weighed in on BCC. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Truist Financial lifted their price target on Boise Cascade from $156.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Finally, The Goldman Sachs Group increased their price objective on shares of Boise Cascade from $114.00 to $129.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Boise Cascade has an average rating of “Hold” and a consensus target price of $125.00.

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.