Boise Cascade (NYSE:BCC) Holdings Lowered by Acadian Asset Management LLC

Acadian Asset Management LLC reduced its stake in Boise Cascade (NYSE:BCC) by 11.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,286,043 shares of the construction company’s stock after selling 162,700 shares during the period. Acadian Asset Management LLC owned 3.25% of Boise Cascade worth $197,225,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in BCC. SummerHaven Investment Management LLC lifted its position in Boise Cascade by 1.2% in the fourth quarter. SummerHaven Investment Management LLC now owns 7,593 shares of the construction company’s stock worth $982,000 after purchasing an additional 93 shares during the period. Measured Wealth Private Client Group LLC lifted its holdings in shares of Boise Cascade by 1.8% in the first quarter. Measured Wealth Private Client Group LLC now owns 5,273 shares of the construction company’s stock valued at $809,000 after buying an additional 95 shares during the period. New York State Teachers Retirement System boosted its stake in Boise Cascade by 0.4% during the fourth quarter. New York State Teachers Retirement System now owns 30,844 shares of the construction company’s stock valued at $3,990,000 after buying an additional 108 shares in the last quarter. Bridge City Capital LLC grew its holdings in Boise Cascade by 0.8% during the first quarter. Bridge City Capital LLC now owns 18,270 shares of the construction company’s stock worth $2,802,000 after acquiring an additional 143 shares during the period. Finally, Capstone Investment Advisors LLC raised its position in Boise Cascade by 4.4% in the fourth quarter. Capstone Investment Advisors LLC now owns 3,643 shares of the construction company’s stock worth $471,000 after acquiring an additional 154 shares in the last quarter. 96.18% of the stock is currently owned by institutional investors.

Insider Activity at Boise Cascade

In related news, SVP Jill Twedt sold 1,852 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $135.00, for a total transaction of $250,020.00. Following the completion of the sale, the senior vice president now directly owns 37,437 shares in the company, valued at $5,053,995. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Boise Cascade news, EVP Jeffrey Robert Strom sold 2,500 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $135.00, for a total value of $337,500.00. Following the transaction, the executive vice president now owns 43,353 shares in the company, valued at $5,852,655. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jill Twedt sold 1,852 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $135.00, for a total value of $250,020.00. Following the completion of the transaction, the senior vice president now directly owns 37,437 shares in the company, valued at $5,053,995. The disclosure for this sale can be found here. 0.98% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group reduced their price objective on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Truist Financial reduced their target price on shares of Boise Cascade from $175.00 to $159.00 and set a “buy” rating for the company in a report on Tuesday, July 16th. Finally, StockNews.com raised Boise Cascade from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Boise Cascade has an average rating of “Hold” and a consensus price target of $126.00.

Boise Cascade Trading Down 1.0 %

BCC stock traded down $1.26 during mid-day trading on Friday, reaching $130.84. 245,844 shares of the stock traded hands, compared to its average volume of 383,027. The stock’s fifty day moving average is $128.44 and its 200-day moving average is $134.32. The company has a market cap of $5.17 billion, a P/E ratio of 10.64 and a beta of 1.50. The company has a current ratio of 3.24, a quick ratio of 2.05 and a debt-to-equity ratio of 0.21. Boise Cascade has a 52-week low of $87.32 and a 52-week high of $154.67.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Monday, May 6th. The construction company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.30 by $0.31. Boise Cascade had a net margin of 7.08% and a return on equity of 22.00%. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the firm earned $2.43 EPS. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts expect that Boise Cascade will post 10.41 earnings per share for the current year.

Boise Cascade Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend was Monday, June 3rd. Boise Cascade’s payout ratio is 6.50%.

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.