KLP Kapitalforvaltning AS Takes Position in Boise Cascade (NYSE:BCC)

KLP Kapitalforvaltning AS bought a new position in shares of Boise Cascade (NYSE:BCC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 48,600 shares of the construction company’s stock, valued at approximately $5,777,000.

Several other institutional investors also recently bought and sold shares of the stock. American Century Companies Inc. boosted its position in Boise Cascade by 12.0% in the 4th quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock worth $134,831,000 after purchasing an additional 121,790 shares in the last quarter. Bank of Montreal Can grew 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 valued at $17,907,000 after buying an additional 119,103 shares during the period. FMR LLC increased its holdings in Boise Cascade by 158.9% in the third quarter. FMR LLC now owns 126,123 shares of the construction company’s stock valued at $17,781,000 after buying an additional 77,401 shares in the last quarter. Barclays PLC raised its position in shares of Boise Cascade by 174.1% in the third quarter. Barclays PLC now owns 90,366 shares of the construction company’s stock worth $12,739,000 after acquiring an additional 57,403 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Boise Cascade during the 3rd quarter worth about $7,653,000. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Boise Cascade Stock Down 1.8 %

BCC stock opened at $101.39 on Wednesday. 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 firm has a 50-day moving average of $113.97 and a two-hundred day moving average of $127.86. Boise Cascade has a 12 month low of $95.33 and a 12 month high of $155.42. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 10.61 and a beta of 1.67.

Boise Cascade (NYSE:BCC) last posted its quarterly 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 net margin of 5.60% and a return on equity of 17.04%. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.57 billion. As a group, analysts forecast that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.84 annualized dividend and a dividend yield of 0.83%. Boise Cascade’s payout ratio is 8.79%.

Analysts Set New Price Targets

Several brokerages recently weighed in on BCC. BMO Capital Markets cut their price target on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a research note on Tuesday, February 25th. The Goldman Sachs Group cut their price objective on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Benchmark reiterated a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. Truist Financial cut their price target on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a report on Monday, February 24th. Finally, DA Davidson decreased their price objective on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, February 24th. One 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $128.50.

Insider Activity

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of Boise Cascade 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 transaction, the director now directly owns 13,099 shares of the company’s stock, valued at $1,351,292.84. The trade was a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeffrey Robert Strom sold 4,500 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were 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 in the company, valued at $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 0.98% of the company’s stock.

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.