HighTower Advisors LLC Raises Holdings in Boise Cascade (NYSE:BCC)

HighTower Advisors LLC boosted its holdings in Boise Cascade (NYSE:BCC - Free Report) by 139.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,507 shares of the construction company's stock after purchasing an additional 2,622 shares during the quarter. HighTower Advisors LLC's holdings in Boise Cascade were worth $536,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Larson Financial Group LLC increased its position in Boise Cascade by 23.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the construction company's stock worth $53,000 after purchasing an additional 73 shares during the period. Invst LLC grew its holdings in Boise Cascade by 2.6% during the third quarter. Invst LLC now owns 5,060 shares of the construction company's stock worth $713,000 after acquiring an additional 128 shares during the period. D.A. Davidson & CO. raised its position in Boise Cascade by 4.2% in the fourth quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company's stock worth $388,000 after acquiring an additional 133 shares in the last quarter. Principal Securities Inc. lifted its holdings in Boise Cascade by 44.2% in the fourth quarter. Principal Securities Inc. now owns 473 shares of the construction company's stock valued at $56,000 after acquiring an additional 145 shares during the period. Finally, Orion Portfolio Solutions LLC boosted its position in shares of Boise Cascade by 8.9% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 2,023 shares of the construction company's stock worth $285,000 after purchasing an additional 165 shares in the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In related news, Director Kristopher J. Matula sold 553 shares of the company's stock in a transaction 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 in the company, valued at approximately $1,351,292.84. This represents a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey Robert Strom sold 4,500 shares of the firm'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 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.98% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Benchmark reiterated a "hold" rating on shares of Boise Cascade in a report on Tuesday, February 25th. Loop Capital reduced their price target 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, February 24th. The Goldman Sachs Group lowered their price target on Boise Cascade from $145.00 to $126.00 and set a "neutral" rating on the stock in a report on Tuesday, January 14th. BMO Capital Markets reduced 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. Finally, DA Davidson dropped their price target on Boise Cascade from $155.00 to $125.00 and set a "buy" rating for the company in a research report on Monday, February 24th. One 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 stock. According to MarketBeat.com, Boise Cascade has a consensus rating of "Hold" and an average target price of $128.50.

Boise Cascade Price Performance

Shares of BCC traded up $3.12 during trading hours on Wednesday, reaching $102.03. 284,106 shares of the company traded hands, compared to its average volume of 324,735. The stock has a market capitalization of $3.87 billion, a PE ratio of 10.67 and a beta of 1.67. The stock has a fifty day simple moving average of $110.55 and a 200 day simple moving average of $126.75. Boise Cascade has a fifty-two week low of $95.30 and a fifty-two week high of $155.42. 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 (NYSE:BCC - Get Free Report) last released its quarterly earnings results 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 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%. As a group, research analysts predict that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th were issued a $0.21 dividend. The ex-dividend date was Monday, February 24th. This represents a $0.84 annualized dividend and a yield of 0.82%. Boise Cascade's dividend payout ratio (DPR) is presently 8.79%.

About Boise Cascade

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.