Cibc World Markets Corp Buys New Position in Boise Cascade (NYSE:BCC)

Cibc World Markets Corp purchased a new position in Boise Cascade (NYSE:BCC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,645 shares of the construction company's stock, valued at approximately $433,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its holdings in shares of Boise Cascade by 341.9% in the 3rd quarter. Tidal Investments LLC now owns 15,808 shares of the construction company's stock worth $2,229,000 after purchasing an additional 12,231 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Boise Cascade by 2.1% in 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 buying an additional 9,128 shares in the last quarter. Fulcrum Capital LLC acquired a new position in shares of Boise Cascade during the fourth quarter valued at about $1,092,000. D.A. Davidson & CO. increased its position in shares of Boise Cascade by 4.2% during 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. Finally, Nordea Investment Management AB raised its holdings in shares of Boise Cascade by 5.0% in the 4th quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company's stock worth $14,454,000 after acquiring an additional 5,779 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company's stock.

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Analyst Ratings Changes

A number of equities analysts have issued reports on the company. BMO Capital Markets decreased 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. Benchmark reiterated a "hold" rating on shares of Boise Cascade in a report on Tuesday, February 25th. Loop Capital dropped their price objective on Boise Cascade from $145.00 to $140.00 and set a "buy" rating on the stock in a research note on Monday, February 24th. Truist Financial cut their price objective on shares of Boise Cascade from $157.00 to $134.00 and set a "buy" rating on the stock in a report on Monday, February 24th. Finally, DA Davidson lowered their target price on shares of Boise Cascade from $155.00 to $125.00 and set a "buy" rating for the company in a report on Monday, February 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Boise Cascade currently has a consensus rating of "Hold" and a consensus price target of $128.50.

Boise Cascade Stock Performance

Boise Cascade stock traded down $1.66 during trading on Tuesday, hitting $101.63. The stock had a trading volume of 109,816 shares, compared to its average volume of 306,961. The stock's 50 day moving average is $114.41 and its two-hundred day moving average is $128.02. Boise Cascade has a 1 year low of $95.33 and a 1 year high of $155.42. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 10.63 and a beta of 1.67. 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 posted 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 return on equity of 17.04% and a net margin of 5.60%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion. As a group, analysts predict that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th were issued a dividend of $0.21 per share. The ex-dividend date was Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.83%. Boise Cascade's payout ratio is 8.79%.

Insiders Place Their Bets

In related news, COO Jeffrey Robert Strom sold 4,500 shares of the company's 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 sale, the chief operating officer now 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 is accessible through this hyperlink. Also, Director Kristopher J. Matula sold 553 shares of the 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 completion of the sale, the director now owns 13,099 shares in the company, valued at $1,351,292.84. This represents a 4.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.