Wedge Capital Management L L P NC Has $14.29 Million Stake in Boise Cascade (NYSE:BCC)

Wedge Capital Management L L P NC lifted its stake in Boise Cascade (NYSE:BCC) by 1,572.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 110,445 shares of the construction company’s stock after purchasing an additional 103,842 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Boise Cascade were worth $14,287,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Global Retirement Partners LLC lifted its stake in Boise Cascade by 1,147.1% during the fourth quarter. Global Retirement Partners LLC now owns 212 shares of the construction company’s stock worth $28,000 after purchasing an additional 195 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in Boise Cascade by 76.0% during the third quarter. Hexagon Capital Partners LLC now owns 433 shares of the construction company’s stock worth $45,000 after purchasing an additional 187 shares during the last quarter. Blue Trust Inc. lifted its stake in Boise Cascade by 58.1% during the fourth quarter. Blue Trust Inc. now owns 544 shares of the construction company’s stock worth $70,000 after purchasing an additional 200 shares during the last quarter. C M Bidwell & Associates Ltd. lifted its stake in Boise Cascade by 4,706.9% during the third quarter. C M Bidwell & Associates Ltd. now owns 1,394 shares of the construction company’s stock worth $144,000 after purchasing an additional 1,365 shares during the last quarter. Finally, Sound View Wealth Advisors Group LLC bought a new stake in Boise Cascade during the third quarter worth $205,000. 96.18% of the stock is currently owned by institutional investors.

Insider Transactions at Boise Cascade

In other news, EVP Dean Michael Brown sold 11,117 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $139.09, for a total value of $1,546,263.53. Following the transaction, the executive vice president now owns 40,237 shares in the company, valued at approximately $5,596,564.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.05% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on BCC shares. Truist Financial increased their price target on Boise Cascade from $156.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Finally, The Goldman Sachs Group increased their price target on Boise Cascade from $114.00 to $129.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $125.00.

Boise Cascade Trading Up 1.7 %

NYSE BCC traded up $2.30 on Tuesday, reaching $135.32. The company had a trading volume of 15,547 shares, compared to its average volume of 294,120. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of 10.98 and a beta of 1.60. Boise Cascade has a fifty-two week low of $64.39 and a fifty-two week high of $154.67. The business has a 50 day moving average of $139.96 and a two-hundred day moving average of $124.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.46 and a quick ratio of 2.26.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Wednesday, February 21st. The construction company reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($0.01). The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.64 billion. Boise Cascade had a return on equity of 21.94% and a net margin of 7.07%. The business’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.95 earnings per share. Analysts forecast that Boise Cascade will post 11.5 EPS for the current year.

Boise Cascade Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 23rd were paid a $0.20 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.59%. Boise Cascade’s payout ratio is presently 6.60%.

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.