Proficio Capital Partners LLC Takes $3.33 Million Position in Boise Cascade (NYSE:BCC)

Proficio Capital Partners LLC bought a new position in Boise Cascade (NYSE:BCC - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 28,051 shares of the construction company's stock, valued at approximately $3,334,000. Proficio Capital Partners LLC owned 0.07% of Boise Cascade at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in BCC. Bank of New York Mellon Corp raised its position in shares of Boise Cascade by 3.0% in the 4th quarter. Bank of New York Mellon Corp now owns 446,350 shares of the construction company's stock worth $53,053,000 after acquiring an additional 12,963 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Boise Cascade by 1.4% in the 4th 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 in the last quarter. Principal Financial Group Inc. raised its position in shares of Boise Cascade by 2.6% in the 4th quarter. Principal Financial Group Inc. now owns 208,323 shares of the construction company's stock worth $24,761,000 after acquiring an additional 5,281 shares in the last quarter. Bank of Montreal Can raised its position in shares of Boise Cascade by 1,597.4% in the 3rd 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 in the last quarter. Finally, FMR LLC raised its position 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 acquiring an additional 77,401 shares in the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several research firms have recently commented on BCC. Benchmark reissued a "hold" rating on shares of Boise Cascade in a research report on Tuesday, February 25th. The Goldman Sachs Group reduced their target price on Boise Cascade from $145.00 to $126.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 14th. Loop Capital reduced their target price on Boise Cascade from $145.00 to $140.00 and set a "buy" rating on the stock in a research report on Monday, February 24th. Truist Financial reduced 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. Finally, BMO Capital Markets reduced their target price 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. One equities 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's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $128.50.

Boise Cascade Stock Performance

Shares of BCC stock traded down $0.98 during mid-day trading on Friday, reaching $99.46. The stock had a trading volume of 2,108,455 shares, compared to its average volume of 307,367. The business's fifty day moving average is $114.75 and its 200-day moving average is $128.13. 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 firm has a market cap of $3.77 billion, a price-to-earnings ratio of 10.40 and a beta of 1.67. Boise Cascade has a 1-year low of $95.33 and a 1-year high of $155.42.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its quarterly earnings data 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 analyst estimates of $1.57 billion. On average, research analysts forecast that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Dividend Announcement

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 $0.21 dividend. The ex-dividend date was Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.84%. Boise Cascade's payout ratio is 8.79%.

Insider Transactions at Boise Cascade

In other news, Director Kristopher J. Matula sold 553 shares of the company'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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey Robert Strom sold 4,500 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total value of $450,945.00. Following the transaction, the chief operating officer now owns 38,026 shares in the company, valued at $3,810,585.46. This represents a 10.58 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.98% of the company's stock.

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.