AXQ Capital LP Makes New $301,000 Investment in Boise Cascade (NYSE:BCC)

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

A number of other hedge funds and other institutional investors have also bought and sold shares of BCC. American Century Companies Inc. raised its position in shares of Boise Cascade by 12.0% in the fourth quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company's stock worth $134,831,000 after buying an additional 121,790 shares in the last quarter. Virtu Financial LLC bought a new position in Boise Cascade in the 4th quarter worth about $620,000. Teacher Retirement System of Texas raised its holdings in shares of Boise Cascade by 180.9% in the 4th quarter. Teacher Retirement System of Texas now owns 33,208 shares of the construction company's stock valued at $3,947,000 after acquiring an additional 21,385 shares in the last quarter. Chesapeake Capital Corp IL boosted its position in shares of Boise Cascade by 21.5% during the 4th quarter. Chesapeake Capital Corp IL now owns 4,797 shares of the construction company's stock valued at $570,000 after acquiring an additional 849 shares during the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of Boise Cascade by 168.3% during the fourth quarter. Intech Investment Management LLC now owns 36,978 shares of the construction company's stock worth $4,395,000 after purchasing an additional 23,194 shares in the last quarter. Institutional investors own 96.18% of the company's stock.

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Boise Cascade Trading Down 1.4 %

NYSE BCC traded down $1.43 during trading on Tuesday, hitting $101.86. 143,076 shares of the company's stock traded hands, compared to its average volume of 306,961. The stock has a fifty day moving average of $114.41 and a two-hundred day moving average of $128.02. Boise Cascade has a 12-month low of $95.33 and a 12-month high of $155.42. The firm has a market cap of $3.86 billion, a P/E ratio of 10.65 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 (NYSE:BCC - Get Free Report) last issued its earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.01). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The company had revenue of $1.57 billion for the quarter, compared to analysts' expectations of $1.57 billion. As a group, sell-side analysts expect that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, February 24th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.82%. The ex-dividend date was Monday, February 24th. Boise Cascade's payout ratio is 8.79%.

Insider Activity at Boise Cascade

In related news, COO Jeffrey Robert Strom sold 4,500 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total transaction 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. The trade was 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 company's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total value of $57,047.48. Following the transaction, the director now directly owns 13,099 shares of the company's stock, valued at $1,351,292.84. The trade was a 4.05 % decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Benchmark reiterated a "hold" rating on shares of Boise Cascade in a research report on Tuesday, February 25th. Loop Capital dropped their price objective on shares of Boise Cascade from $145.00 to $140.00 and set a "buy" rating for the company in a report on Monday, February 24th. The Goldman Sachs Group cut 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. 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. Finally, BMO Capital Markets cut their price objective on Boise Cascade from $136.00 to $122.00 and set a "market perform" rating for the company in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $128.50.

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.