Intech Investment Management LLC Grows Holdings in Boise Cascade (NYSE:BCC)

Intech Investment Management LLC raised its holdings in shares of Boise Cascade (NYSE:BCC - Free Report) by 168.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,978 shares of the construction company's stock after purchasing an additional 23,194 shares during the period. Intech Investment Management LLC owned 0.10% of Boise Cascade worth $4,395,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Tidal Investments LLC increased its position in Boise Cascade by 341.9% during the 3rd quarter. Tidal Investments LLC now owns 15,808 shares of the construction company's stock valued at $2,229,000 after buying an additional 12,231 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Boise Cascade by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company's stock valued at $61,680,000 after acquiring an additional 9,128 shares in the last quarter. Fulcrum Capital LLC acquired a new position in Boise Cascade during the 4th quarter valued at approximately $1,092,000. D.A. Davidson & CO. increased its stake in Boise Cascade by 4.2% during the 4th quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company's stock valued at $388,000 after purchasing an additional 133 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in Boise Cascade by 5.0% during the 4th quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company's stock valued at $14,454,000 after purchasing an additional 5,779 shares in the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling at Boise Cascade

In related news, Director Kristopher J. Matula sold 553 shares of Boise Cascade stock in a transaction 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 sale, the director now owns 13,099 shares of the company's stock, valued at approximately $1,351,292.84. This trade represents a 4.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey Robert Strom sold 4,500 shares of the stock in a transaction 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. The trade was a 10.58 % 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 Stock Performance

Boise Cascade stock traded down $0.98 during midday trading on Friday, hitting $99.46. 2,108,455 shares of the company were exchanged, compared to its average volume of 307,150. The firm has a market capitalization of $3.77 billion, a PE ratio of 10.40 and a beta of 1.67. Boise Cascade has a fifty-two week low of $95.33 and a fifty-two week high of $155.42. The business has a fifty day simple moving average of $114.75 and a two-hundred day simple moving average of $128.15. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34.

Boise Cascade (NYSE:BCC - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 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 net margin of 5.60% and a return on equity of 17.04%. On average, sell-side analysts forecast that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Dividend Announcement

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

Wall Street Analysts Forecast Growth

BCC has been the topic of several research reports. 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 report on Monday, February 24th. Benchmark reissued a "hold" rating on shares of Boise Cascade in a report on Tuesday, February 25th. Loop Capital cut their price objective on Boise Cascade from $145.00 to $140.00 and set a "buy" rating on the stock in a report on Monday, February 24th. DA Davidson cut their price target on shares of Boise Cascade from $155.00 to $125.00 and set a "buy" rating on the stock in a report on Monday, February 24th. Finally, The Goldman Sachs Group cut their price target on shares of Boise Cascade from $145.00 to $126.00 and set a "neutral" rating on the stock in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $128.50.

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.