Boise Cascade (NYSE:BCC) Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its holdings in shares of Boise Cascade (NYSE:BCC - Free Report) by 43.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 84,423 shares of the construction company's stock after buying an additional 25,673 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.22% of Boise Cascade worth $10,035,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BCC. R Squared Ltd purchased a new stake in shares of Boise Cascade in the 4th quarter worth $29,000. Principal Securities Inc. grew its holdings in Boise Cascade by 44.2% during the fourth quarter. Principal Securities Inc. now owns 473 shares of the construction company's stock valued at $56,000 after purchasing an additional 145 shares during the period. Smartleaf Asset Management LLC increased its position in Boise Cascade by 254.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company's stock worth $92,000 after buying an additional 558 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Boise Cascade by 234.2% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,270 shares of the construction company's stock worth $179,000 after buying an additional 890 shares during the period. Finally, KBC Group NV lifted its position in shares of Boise Cascade by 41.3% during the 4th quarter. KBC Group NV now owns 1,732 shares of the construction company's stock valued at $206,000 after buying an additional 506 shares in the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

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Boise Cascade Price Performance

BCC traded up $0.75 during trading hours on Friday, hitting $95.38. The company's stock had a trading volume of 827,560 shares, compared to its average volume of 327,322. The business's 50-day moving average price is $109.24 and its 200-day moving average price is $126.25. Boise Cascade has a 12 month low of $89.59 and a 12 month high of $155.42. 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 market cap of $3.62 billion, a price-to-earnings ratio of 9.98 and a beta of 1.67.

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 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. Sell-side analysts expect that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend was Monday, February 24th. Boise Cascade's dividend payout ratio is currently 8.79%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. DA Davidson decreased their target price on shares of Boise Cascade from $155.00 to $125.00 and set a "buy" rating on the stock in a research note on Monday, February 24th. BMO Capital Markets reduced their price objective on shares of Boise Cascade from $136.00 to $122.00 and set a "market perform" rating for the company in a research note on Tuesday, February 25th. Loop Capital lowered their target price on shares of Boise Cascade from $145.00 to $140.00 and set a "buy" rating on the stock in a research note on Monday, February 24th. The Goldman Sachs Group dropped their target price on shares of Boise Cascade from $145.00 to $126.00 and set a "neutral" rating for the company in a report on Tuesday, January 14th. Finally, Truist Financial decreased their price target on Boise Cascade from $157.00 to $134.00 and set a "buy" rating on the stock in a 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 company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $128.50.

Insider Buying and Selling at Boise Cascade

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

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.