AXQ Capital LP Acquires New Shares in Boise Cascade (NYSE:BCC)

AXQ Capital LP bought a new stake in Boise Cascade (NYSE:BCC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,531 shares of the construction company's stock, valued at approximately $301,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC grew its position in Boise Cascade by 2.0% in the third quarter. Segall Bryant & Hamill LLC now owns 14,254 shares of the construction company's stock valued at $2,010,000 after acquiring an additional 285 shares in the last quarter. Jennison Associates LLC acquired a new stake in Boise Cascade during the third quarter valued at approximately $862,000. Intech Investment Management LLC raised its position in shares of Boise Cascade by 98.3% during the 3rd quarter. Intech Investment Management LLC now owns 13,784 shares of the construction company's stock valued at $1,943,000 after acquiring an additional 6,832 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Boise Cascade by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company's stock worth $61,680,000 after buying an additional 9,128 shares during the last quarter. Finally, Citigroup Inc. lifted its holdings in Boise Cascade by 49.0% in the third quarter. Citigroup Inc. now owns 57,546 shares of the construction company's stock worth $8,113,000 after acquiring an additional 18,933 shares during the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on BCC. BMO Capital Markets cut their target price on Boise Cascade from $136.00 to $122.00 and set a "market perform" rating on the stock in a research note on Tuesday, February 25th. Benchmark reiterated a "hold" rating on shares of Boise Cascade in a report on Tuesday, February 25th. Truist Financial lowered 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. Loop Capital cut their price objective on Boise Cascade from $145.00 to $140.00 and set a "buy" rating for the company in a report on Monday, February 24th. Finally, The Goldman Sachs Group lowered their target price on Boise Cascade from $145.00 to $126.00 and set a "neutral" rating on the stock in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Boise Cascade has an average rating of "Hold" and an average price target of $128.50.

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Boise Cascade Trading Down 0.4 %

Shares of Boise Cascade stock traded down $0.38 on Thursday, reaching $100.39. 252,420 shares of the company were exchanged, compared to its average volume of 306,637. Boise Cascade has a fifty-two week low of $95.33 and a fifty-two week high of $155.42. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 10.50 and a beta of 1.67. 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 $113.45 and a 200-day moving average price of $127.67.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.01). The company 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, analysts expect that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.84%. The ex-dividend date was Monday, February 24th. Boise Cascade's payout ratio is 8.79%.

Insider Buying and Selling at Boise Cascade

In other news, COO Jeffrey Robert Strom sold 4,500 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total value of $450,945.00. Following the transaction, the chief operating officer now owns 38,026 shares in the company, valued at $3,810,585.46. This represents a 10.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kristopher J. Matula sold 553 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 13,099 shares of the company's stock, valued at $1,351,292.84. This trade represents a 4.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.98% 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.