Quantbot Technologies LP Lowers Holdings in Boise Cascade (NYSE:BCC)

Quantbot Technologies LP lowered its position in Boise Cascade (NYSE:BCC - Free Report) by 27.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,300 shares of the construction company's stock after selling 2,786 shares during the period. Quantbot Technologies LP's holdings in Boise Cascade were worth $868,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of Montreal Can increased its stake in shares of Boise Cascade by 1,597.4% during the third quarter. Bank of Montreal Can now owns 126,559 shares of the construction company's stock valued at $17,907,000 after purchasing an additional 119,103 shares in the last quarter. FMR LLC grew its stake in shares of Boise Cascade by 158.9% in the 3rd quarter. FMR LLC now owns 126,123 shares of the construction company's stock worth $17,781,000 after buying an additional 77,401 shares during the last quarter. Barclays PLC increased its position in Boise Cascade by 174.1% during the 3rd quarter. Barclays PLC now owns 90,366 shares of the construction company's stock valued at $12,739,000 after buying an additional 57,403 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Boise Cascade during the third quarter valued at $7,653,000. Finally, World Investment Advisors LLC bought a new stake in Boise Cascade in the third quarter worth $3,995,000. Hedge funds and other institutional investors own 96.18% of the company's stock.

Boise Cascade Stock Performance

BCC traded down $2.08 during mid-day trading on Friday, reaching $98.28. 378,873 shares of the company traded hands, compared to its average volume of 325,492. The stock has a market capitalization of $3.73 billion, a P/E ratio of 10.28 and a beta of 1.67. Boise Cascade has a 52-week low of $95.33 and a 52-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. The company's fifty day moving average price is $112.29 and its 200-day moving average price is $127.39.

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Boise Cascade (NYSE:BCC - Get Free Report) last posted its earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share for the quarter, missing analysts' consensus estimates of $1.79 by ($0.01). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.57 billion. On average, sell-side analysts expect that Boise Cascade will post 10.15 EPS for the current 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 given a $0.21 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.84 annualized dividend and a yield of 0.85%. Boise Cascade's payout ratio is presently 8.79%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BCC shares. DA Davidson dropped their price target 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. The Goldman Sachs Group dropped their target price on shares of Boise Cascade from $145.00 to $126.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 14th. BMO Capital Markets reduced their price target 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, February 25th. Loop Capital decreased 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. Finally, Truist Financial cut their target price on Boise Cascade from $157.00 to $134.00 and set a "buy" rating on the stock in a research note on Monday, February 24th. One investment 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 data from MarketBeat.com, Boise Cascade has a consensus rating of "Hold" and a consensus target price of $128.50.

Insider Transactions at Boise Cascade

In related 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 value of $450,945.00. Following the completion of the sale, the chief operating officer now directly owns 38,026 shares of the company's stock, valued at approximately $3,810,585.46. This represents a 10.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kristopher J. Matula sold 553 shares of the firm'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 transaction of $57,047.48. Following the sale, the director now owns 13,099 shares in the company, valued at approximately $1,351,292.84. The trade was a 4.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.98% of the company's stock.

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.