Boise Cascade (NYSE:BCC) Stock Position Decreased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC cut its holdings in shares of Boise Cascade (NYSE:BCC - Free Report) by 9.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 98,671 shares of the construction company's stock after selling 10,294 shares during the period. Wedge Capital Management L L P NC owned about 0.26% of Boise Cascade worth $11,728,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BCC. Tidal Investments LLC lifted its position 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 buying an additional 12,231 shares during the last quarter. Algert Global LLC lifted its holdings in Boise Cascade by 8.3% in the second quarter. Algert Global LLC now owns 79,277 shares of the construction company's stock worth $9,451,000 after acquiring an additional 6,059 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in 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 acquiring an additional 9,128 shares during the period. Fulcrum Capital LLC acquired a new position in Boise Cascade in the fourth quarter valued at approximately $1,092,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Boise Cascade by 56.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 89,163 shares of the construction company's stock valued at $12,570,000 after purchasing an additional 32,303 shares during the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Price Performance

NYSE BCC traded down $0.21 on Friday, reaching $128.25. 486,114 shares of the stock traded hands, compared to its average volume of 306,713. Boise Cascade has a 12 month low of $113.38 and a 12 month high of $155.42. The company has a market cap of $4.93 billion, a price-to-earnings ratio of 12.55 and a beta of 1.58. The firm's fifty day simple moving average is $133.00 and its 200 day simple moving average is $133.27. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.37 by ($0.04). The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.72 billion. Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The company's quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $3.58 EPS. As a group, research analysts predict that Boise Cascade will post 9.6 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Monday, December 2nd. Boise Cascade's dividend payout ratio (DPR) is currently 8.22%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BCC. The Goldman Sachs Group reduced their price objective on Boise Cascade from $145.00 to $126.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. Truist Financial reduced their price target on shares of Boise Cascade from $161.00 to $157.00 and set a "buy" rating for the company in a report on Monday, January 6th. StockNews.com lowered shares of Boise Cascade from a "buy" rating to a "hold" rating in a research note on Wednesday, November 6th. Loop Capital started coverage on Boise Cascade in a report on Friday, November 1st. They set a "buy" rating and a $155.00 price target on the stock. Finally, BMO Capital Markets upped their price objective on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a "market perform" rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Boise Cascade presently has an average rating of "Hold" and an average target price of $139.60.

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.