Summit Global Investments Grows Position in Boise Cascade (NYSE:BCC)

Summit Global Investments boosted its stake in Boise Cascade (NYSE:BCC) by 19.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 13,700 shares of the construction company’s stock after acquiring an additional 2,186 shares during the period. Summit Global Investments’ holdings in Boise Cascade were worth $1,772,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. QRG Capital Management Inc. purchased a new stake in Boise Cascade during the 3rd quarter worth approximately $2,682,000. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Boise Cascade in the fourth quarter valued at $1,200,000. DekaBank Deutsche Girozentrale boosted its holdings in Boise Cascade by 54.2% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 58,919 shares of the construction company’s stock valued at $7,596,000 after purchasing an additional 20,712 shares during the period. Nisa Investment Advisors LLC grew its stake in Boise Cascade by 81.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 8,135 shares of the construction company’s stock worth $1,052,000 after purchasing an additional 3,660 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Boise Cascade by 23.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,241 shares of the construction company’s stock worth $952,000 after purchasing an additional 1,772 shares during the period. Institutional investors and hedge funds own 96.18% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BCC. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. The Goldman Sachs Group increased their target price on Boise Cascade from $114.00 to $129.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Finally, Truist Financial lifted their price target on Boise Cascade from $156.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. 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 stock. Based on data from MarketBeat, Boise Cascade presently has an average rating of “Hold” and a consensus target price of $125.00.

Boise Cascade Stock Up 1.2 %

Shares of Boise Cascade stock traded up $1.63 during trading hours on Friday, hitting $136.11. The company had a trading volume of 328,037 shares, compared to its average volume of 295,876. The company’s 50-day moving average is $140.20 and its two-hundred day moving average is $126.97. Boise Cascade has a twelve month low of $66.82 and a twelve month high of $154.67. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.46 and a quick ratio of 2.26. The company has a market cap of $5.38 billion, a P/E ratio of 11.23 and a beta of 1.64.

Boise Cascade (NYSE:BCC) last posted its earnings results on Wednesday, February 21st. The construction company reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($0.01). The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Boise Cascade had a net margin of 7.07% and a return on equity of 21.94%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.95 earnings per share. Analysts anticipate that Boise Cascade will post 11.44 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.59%. Boise Cascade’s dividend payout ratio (DPR) is presently 6.60%.

Insider Activity

In other Boise Cascade news, EVP Dean Michael Brown sold 11,117 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $139.09, for a total transaction of $1,546,263.53. Following the transaction, the executive vice president now directly owns 40,237 shares of the company’s stock, valued at approximately $5,596,564.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.