Raymond James Financial Inc. Takes Position in Boise Cascade (NYSE:BCC)

Raymond James Financial Inc. purchased a new position in Boise Cascade (NYSE:BCC) during the fourth quarter, HoldingsChannel reports. The fund purchased 13,472 shares of the construction company’s stock, valued at approximately $1,601,000.

Several other hedge funds have also recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new stake in Boise Cascade in the fourth quarter valued at $3,334,000. Assetmark Inc. raised its stake in shares of Boise Cascade by 0.6% during the 4th quarter. Assetmark Inc. now owns 54,849 shares of the construction company’s stock worth $6,519,000 after buying an additional 327 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Boise Cascade by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 443,691 shares of the construction company’s stock worth $52,737,000 after buying an additional 6,182 shares during the last quarter. Bailard Inc. boosted its position in shares of Boise Cascade by 17.6% in the 4th quarter. Bailard Inc. now owns 5,356 shares of the construction company’s stock worth $637,000 after buying an additional 800 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Boise Cascade by 254.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company’s stock valued at $92,000 after acquiring an additional 558 shares in the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Boise Cascade

In other news, Director Kristopher J. Matula sold 553 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total value of $57,047.48. Following the transaction, the director now directly owns 13,099 shares in the company, valued at $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 available through this hyperlink. Also, COO Jeffrey Robert Strom sold 4,500 shares of Boise Cascade stock in a transaction dated Wednesday, March 5th. The shares were 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 directly owns 38,026 shares in the company, valued at $3,810,585.46. This represents a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is owned by insiders.

Boise Cascade Trading Up 0.6 %

Shares of BCC opened at $98.65 on Wednesday. Boise Cascade has a fifty-two week low of $95.30 and a fifty-two week high of $155.42. The stock has a fifty day moving average of $111.07 and a two-hundred day moving average of $126.93. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34. The company has a market capitalization of $3.74 billion, a PE ratio of 10.32 and a beta of 1.67.

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

Boise Cascade Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, February 24th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.84 annualized dividend and a dividend yield of 0.85%. Boise Cascade’s dividend payout ratio is presently 8.79%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group cut their target price on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Truist Financial reduced their target price on Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Loop Capital dropped their price target on Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Benchmark restated a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. Finally, BMO Capital Markets dropped their price objective on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a research report on Tuesday, February 25th. One 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’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $128.50.

Boise Cascade Company 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.