Boise Cascade (NYSE:BCC) Stake Increased by QRG Capital Management Inc.

QRG Capital Management Inc. lifted its holdings in Boise Cascade (NYSE:BCC) by 4.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,715 shares of the construction company’s stock after buying an additional 1,445 shares during the period. QRG Capital Management Inc. owned about 0.08% of Boise Cascade worth $3,662,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. UniSuper Management Pty Ltd acquired a new stake in Boise Cascade during the 1st quarter worth about $1,055,000. BNP Paribas Financial Markets boosted its holdings in shares of Boise Cascade by 80.2% during the first quarter. BNP Paribas Financial Markets now owns 23,522 shares of the construction company’s stock worth $3,608,000 after purchasing an additional 10,467 shares during the period. Leuthold Group LLC grew its position in Boise Cascade by 10.0% during the fourth quarter. Leuthold Group LLC now owns 25,252 shares of the construction company’s stock valued at $3,267,000 after purchasing an additional 2,299 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Boise Cascade by 1,809.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 12,659 shares of the construction company’s stock valued at $1,638,000 after buying an additional 11,996 shares during the period. Finally, Burney Co. purchased a new stake in Boise Cascade in the 1st quarter worth approximately $673,000. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Insider Buying and Selling at Boise Cascade

In other news, SVP Jill Twedt sold 1,852 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $135.00, for a total transaction of $250,020.00. Following the transaction, the senior vice president now directly owns 37,437 shares in the company, valued at approximately $5,053,995. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Truist Financial reaffirmed a “buy” rating and issued a $154.00 price target (down from $159.00) on shares of Boise Cascade in a research note on Wednesday. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, The Goldman Sachs Group lowered their price target on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $124.75.

Boise Cascade Stock Performance

Shares of BCC stock traded up $0.25 during trading on Friday, reaching $127.11. The company had a trading volume of 263,314 shares, compared to its average volume of 313,235. Boise Cascade has a one year low of $87.32 and a one year high of $154.67. The firm’s 50 day simple moving average is $127.10 and its two-hundred day simple moving average is $134.43. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.24 and a quick ratio of 2.05. The company has a market capitalization of $5.02 billion, a PE ratio of 10.33 and a beta of 1.50.

Boise Cascade (NYSE:BCC) last announced its earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.16. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Boise Cascade had a net margin of 7.08% and a return on equity of 22.00%. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter last year, the company posted $3.67 EPS. Sell-side analysts forecast that Boise Cascade will post 10.41 earnings per share for the current year.

Boise Cascade Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Tuesday, September 3rd. This is a boost from Boise Cascade’s previous quarterly dividend of $0.20. Boise Cascade’s payout ratio is 6.83%.

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.