CIBC Asset Management Inc Buys Shares of 3,822 Boise Cascade (NYSE:BCC)

CIBC Asset Management Inc acquired a new stake in Boise Cascade (NYSE:BCC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,822 shares of the construction company's stock, valued at approximately $454,000.

Several other institutional investors and hedge funds also recently made changes to their positions in BCC. Creative Planning increased its stake in shares of Boise Cascade by 17.9% in the third quarter. Creative Planning now owns 8,596 shares of the construction company's stock valued at $1,212,000 after buying an additional 1,302 shares during the period. Sequoia Financial Advisors LLC increased its position in Boise Cascade by 4.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,757 shares of the construction company's stock valued at $248,000 after purchasing an additional 78 shares during the period. Highland Capital Management LLC acquired a new stake in Boise Cascade during the 3rd quarter valued at approximately $215,000. DekaBank Deutsche Girozentrale increased its position in Boise Cascade by 14.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 57,778 shares of the construction company's stock valued at $8,107,000 after purchasing an additional 7,421 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in Boise Cascade by 59.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,390 shares of the construction company's stock valued at $1,606,000 after purchasing an additional 4,267 shares during the period. Institutional investors and hedge funds own 96.18% of the company's stock.

Wall Street Analyst Weigh In

BCC has been the subject of a number of recent analyst reports. Benchmark reissued a "hold" rating on shares of Boise Cascade in a research report on Tuesday. BMO Capital Markets decreased their target price 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. Loop Capital decreased their target price on shares of Boise Cascade from $145.00 to $140.00 and set a "buy" rating for the company in a research report on Monday. The Goldman Sachs Group decreased their target price on shares of Boise Cascade from $145.00 to $126.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. Finally, Truist Financial reduced their price objective on shares of Boise Cascade from $157.00 to $134.00 and set a "buy" rating for the company in a research report on Monday. One 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 company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $128.50.

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Boise Cascade Stock Down 1.3 %

BCC stock traded down $1.36 during midday trading on Thursday, reaching $102.71. 475,944 shares of the company's stock traded hands, compared to its average volume of 323,727. The company has a market cap of $3.90 billion, a price-to-earnings ratio of 10.74 and a beta of 1.57. The firm's fifty day moving average price is $121.52 and its 200-day moving average price is $131.84. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22. Boise Cascade has a 52 week low of $102.17 and a 52 week high of $155.42.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing analysts' consensus estimates of $1.79 by ($0.01). The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. As a group, sell-side analysts forecast that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, February 24th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Monday, February 24th. Boise Cascade's payout ratio is currently 8.79%.

Insider Buying and Selling at Boise Cascade

In other news, Director Kristopher J. Matula sold 553 shares of the company'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 completion of the transaction, the director now directly owns 13,099 shares of the company's stock, valued at $1,351,292.84. This represents a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.98% of the company's stock.

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.