Raymond James Financial Inc. Buys New Stake in Boise Cascade (NYSE:BCC)

Raymond James Financial Inc. purchased a new stake in shares of Boise Cascade (NYSE:BCC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 13,472 shares of the construction company's stock, valued at approximately $1,601,000.

A number of other large investors have also recently modified their holdings of the company. Proficio Capital Partners LLC purchased a new stake in Boise Cascade in the fourth quarter worth about $3,334,000. Assetmark Inc. lifted its position in shares of Boise Cascade by 0.6% in the 4th quarter. Assetmark Inc. now owns 54,849 shares of the construction company's stock worth $6,519,000 after purchasing an additional 327 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 valued at $52,737,000 after purchasing an additional 6,182 shares in the last quarter. Bailard Inc. increased its holdings in Boise Cascade by 17.6% during the fourth quarter. Bailard Inc. now owns 5,356 shares of the construction company's stock valued at $637,000 after buying an additional 800 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in Boise Cascade by 254.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company's stock worth $92,000 after buying an additional 558 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Benchmark reaffirmed a "hold" rating on shares of Boise Cascade in a research report on Tuesday, February 25th. DA Davidson cut their target price on Boise Cascade from $155.00 to $125.00 and set a "buy" rating on the stock in a research note on Monday, February 24th. BMO Capital Markets decreased 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. The Goldman Sachs Group cut their price objective on shares of Boise Cascade from $145.00 to $126.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 14th. Finally, Truist Financial decreased their target price on shares of Boise Cascade from $157.00 to $134.00 and set a "buy" rating for the company in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $128.50.

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Boise Cascade Stock Performance

Shares of Boise Cascade stock traded up $0.75 during midday trading on Friday, hitting $95.38. The company had a trading volume of 827,560 shares, compared to its average volume of 327,713. The company has a fifty day simple moving average of $109.24 and a 200 day simple moving average of $126.19. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 9.98 and a beta of 1.52. 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 has a 12-month low of $89.59 and a 12-month high of $155.42.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.79 by ($0.01). Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. The company had revenue of $1.57 billion during the quarter, compared to analysts' expectations of $1.57 billion. As a group, analysts predict that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors 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 yield of 0.88%. Boise Cascade's dividend payout ratio (DPR) is 8.79%.

Insiders Place Their Bets

In related news, Director Kristopher J. Matula sold 553 shares of the firm's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total transaction of $57,047.48. Following the completion of the transaction, the director now 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jeffrey Robert Strom sold 4,500 shares of the company's 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 completion of the sale, 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 currently owned by insiders.

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.