Boise Cascade (NYSE:BCC) Shares Acquired by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL increased its stake in shares of Boise Cascade (NYSE:BCC) by 21.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,797 shares of the construction company’s stock after purchasing an additional 849 shares during the period. Chesapeake Capital Corp IL’s holdings in Boise Cascade were worth $570,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bank of Montreal Can increased its position in Boise Cascade by 1,597.4% during the third quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock worth $17,907,000 after buying an additional 119,103 shares in the last quarter. FMR LLC boosted its stake in shares of Boise Cascade by 158.9% during the third quarter. FMR LLC now owns 126,123 shares of the construction company’s stock valued at $17,781,000 after acquiring an additional 77,401 shares during the last quarter. Barclays PLC increased its position in Boise Cascade by 174.1% during the 3rd quarter. Barclays PLC now owns 90,366 shares of the construction company’s stock worth $12,739,000 after purchasing an additional 57,403 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Boise Cascade in the 3rd quarter valued at about $7,653,000. Finally, World Investment Advisors LLC purchased a new position in Boise Cascade in the 3rd quarter valued at about $3,995,000. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Insider Activity at Boise Cascade

In related news, Director Kristopher J. Matula sold 553 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total transaction of $57,047.48. Following the transaction, the director now directly owns 13,099 shares of the company’s stock, valued at approximately $1,351,292.84. The trade was a 4.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Jeffrey Robert Strom sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total value 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. This represents a 10.58 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on BCC shares. Benchmark reissued a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. The Goldman Sachs Group cut their price target on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Truist Financial decreased their price objective on Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a report on Monday, February 24th. DA Davidson lowered their price objective on Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Finally, Loop Capital reduced their target price on Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $128.50.

Boise Cascade Price Performance

BCC stock opened at $99.46 on Wednesday. The company has a market cap of $3.77 billion, a PE ratio of 10.40 and a beta of 1.67. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22. The stock has a 50-day moving average price of $115.76 and a two-hundred day moving average price of $128.78. Boise Cascade has a 12-month low of $95.33 and a 12-month high of $155.42.

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

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Monday, February 24th. Boise Cascade’s dividend payout ratio 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.