Gallacher Capital Management LLC Lowers Stake in Boise Cascade (NYSE:BCC)

Gallacher Capital Management LLC cut its position in shares of Boise Cascade (NYSE:BCC) by 13.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,930 shares of the construction company’s stock after selling 298 shares during the quarter. Gallacher Capital Management LLC’s holdings in Boise Cascade were worth $229,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. R Squared Ltd purchased a new stake in shares of Boise Cascade during the fourth quarter worth about $29,000. Larson Financial Group LLC grew its holdings in Boise Cascade by 23.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock valued at $53,000 after purchasing an additional 73 shares during the period. Principal Securities Inc. grew its holdings in Boise Cascade by 44.2% in the fourth quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock valued at $56,000 after purchasing an additional 145 shares during the period. Smartleaf Asset Management LLC grew its holdings in Boise Cascade by 254.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company’s stock valued at $92,000 after purchasing an additional 558 shares during the period. Finally, KBC Group NV grew its holdings in Boise Cascade by 19.0% in the third quarter. KBC Group NV now owns 1,226 shares of the construction company’s stock valued at $173,000 after purchasing an additional 196 shares during the period. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Kristopher J. Matula sold 553 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total transaction of $57,047.48. Following the completion of the transaction, the director now owns 13,099 shares in the company, valued at approximately $1,351,292.84. This trade represents a 4.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Jeffrey Robert Strom sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total transaction of $450,945.00. Following the completion of the transaction, the chief operating officer now owns 38,026 shares of the company’s stock, valued at approximately $3,810,585.46. The trade was a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BCC. BMO Capital Markets reduced their price target on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 25th. The Goldman Sachs Group reduced their price target on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. DA Davidson decreased their target price on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Benchmark restated a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Finally, Loop Capital decreased their target price on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Boise Cascade presently has an average rating of “Hold” and a consensus target price of $128.50.

Boise Cascade Stock Up 3.0 %

Shares of NYSE:BCC opened at $99.29 on Monday. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 10.39 and a beta of 1.67. Boise Cascade has a 1-year low of $95.33 and a 1-year high of $155.42. The company’s fifty day moving average is $116.54 and its two-hundred day moving average is $129.27. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34.

Boise Cascade (NYSE:BCC) last issued its earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.57 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. Equities analysts anticipate that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, February 24th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.85%. Boise Cascade’s dividend payout ratio (DPR) is presently 8.79%.

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.