KLP Kapitalforvaltning AS Invests $5.78 Million in Boise Cascade (NYSE:BCC)

KLP Kapitalforvaltning AS bought a new stake in shares of Boise Cascade (NYSE:BCC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 48,600 shares of the construction company's stock, valued at approximately $5,777,000. KLP Kapitalforvaltning AS owned approximately 0.13% of Boise Cascade as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BCC. American Century Companies Inc. grew its stake in Boise Cascade by 12.0% during the 4th quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company's stock valued at $134,831,000 after purchasing an additional 121,790 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Boise Cascade by 3.0% in the fourth quarter. Bank of New York Mellon Corp now owns 446,350 shares of the construction company's stock valued at $53,053,000 after purchasing an additional 12,963 shares during the period. Charles Schwab Investment Management Inc. raised its position in Boise Cascade by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 443,691 shares of the construction company's stock worth $52,737,000 after acquiring an additional 6,182 shares during the period. Principal Financial Group Inc. lifted its stake in Boise Cascade by 2.6% in the 4th quarter. Principal Financial Group Inc. now owns 208,323 shares of the construction company's stock valued at $24,761,000 after buying an additional 5,281 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Boise Cascade by 1,597.4% in the third quarter. Bank of Montreal Can now owns 126,559 shares of the construction company's stock worth $17,907,000 after acquiring an additional 119,103 shares during the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

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Boise Cascade Trading Down 2.1 %

NYSE BCC traded down $2.08 during mid-day trading on Friday, hitting $98.28. The company's stock had a trading volume of 378,873 shares, compared to its average volume of 325,492. Boise Cascade has a 52-week low of $95.33 and a 52-week high of $155.42. The stock's fifty day simple moving average is $112.29 and its two-hundred day simple moving average is $127.36. The firm has a market capitalization of $3.73 billion, a P/E ratio of 10.28 and a beta of 1.67. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92.

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 business had revenue of $1.57 billion during 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%. Research 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. Stockholders 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 dividend yield of 0.85%. Boise Cascade's dividend payout ratio (DPR) is presently 8.79%.

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 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 $3,810,585.46. This 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 can be accessed through this link. Also, Director Kristopher J. Matula sold 553 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total value of $57,047.48. Following the sale, the director now directly owns 13,099 shares of the company's stock, valued at $1,351,292.84. This trade represents 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 company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BCC. BMO Capital Markets reduced their price objective on Boise Cascade from $136.00 to $122.00 and set a "market perform" rating on the stock in a research report on Tuesday, February 25th. Loop Capital dropped their target price 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. DA Davidson reduced 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 report on Monday, February 24th. Benchmark reissued a "hold" rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Finally, Truist Financial dropped their price objective on shares of Boise Cascade from $157.00 to $134.00 and set a "buy" rating on the stock in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. 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 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.