Burney Co. Acquires Shares of 4,391 Boise Cascade (NYSE:BCC)

Burney Co. purchased a new stake in Boise Cascade (NYSE:BCC) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,391 shares of the construction company’s stock, valued at approximately $673,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Boise Cascade by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 4,709,276 shares of the construction company’s stock valued at $609,192,000 after acquiring an additional 35,963 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Boise Cascade by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,801,903 shares of the construction company’s stock worth $362,456,000 after acquiring an additional 28,952 shares in the last quarter. Norges Bank purchased a new stake in Boise Cascade in the 4th quarter valued at $60,383,000. LSV Asset Management boosted its stake in shares of Boise Cascade by 55.0% in the 4th quarter. LSV Asset Management now owns 446,057 shares of the construction company’s stock worth $57,702,000 after buying an additional 158,363 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Boise Cascade by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 421,920 shares of the construction company’s stock valued at $54,580,000 after acquiring an additional 12,140 shares during the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Boise Cascade Price Performance

Boise Cascade stock traded down $4.71 during midday trading on Friday, reaching $128.89. 326,874 shares of the stock traded hands, compared to its average volume of 295,427. The stock has a market cap of $5.09 billion, a P/E ratio of 10.48 and a beta of 1.50. Boise Cascade has a 12 month low of $87.32 and a 12 month high of $154.67. The stock’s fifty day moving average is $128.11 and its 200-day moving average is $134.67. The company has a quick ratio of 2.05, a current ratio of 3.24 and a debt-to-equity ratio of 0.21.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Monday, May 6th. The construction company reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.31. Boise Cascade had a net margin of 7.08% and a return on equity of 22.00%. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the previous year, the company earned $2.43 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Boise Cascade will post 10.41 EPS for the current year.

Boise Cascade Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.65%. This is an increase from Boise Cascade’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, September 3rd. Boise Cascade’s dividend payout ratio (DPR) is 6.50%.

Insider Buying and Selling

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

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.