Capstone Investment Advisors LLC Buys 3,667 Shares of Boise Cascade (NYSE:BCC)

Capstone Investment Advisors LLC increased its stake in shares of Boise Cascade (NYSE:BCC) by 100.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 7,310 shares of the construction company’s stock after buying an additional 3,667 shares during the period. Capstone Investment Advisors LLC’s holdings in Boise Cascade were worth $1,121,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of BCC. Norges Bank bought a new stake in shares of Boise Cascade during the 4th quarter worth about $60,383,000. Wellington Management Group LLP boosted its holdings in Boise Cascade by 45.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,349,170 shares of the construction company’s stock valued at $139,018,000 after purchasing an additional 418,891 shares during the period. Pacer Advisors Inc. boosted its holdings in Boise Cascade by 59.7% in the 4th quarter. Pacer Advisors Inc. now owns 1,096,986 shares of the construction company’s stock valued at $141,906,000 after purchasing an additional 409,906 shares during the period. LSV Asset Management boosted its holdings in Boise Cascade by 55.0% in the 4th quarter. LSV Asset Management now owns 446,057 shares of the construction company’s stock valued at $57,702,000 after purchasing an additional 158,363 shares during the period. Finally, Public Employees Retirement Association of Colorado boosted its holdings in Boise Cascade by 358.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 133,961 shares of the construction company’s stock valued at $17,329,000 after purchasing an additional 104,713 shares during the period. Institutional investors own 96.18% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on BCC shares. Truist Financial boosted their price objective on shares of Boise Cascade from $156.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, March 21st. StockNews.com raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Boise Cascade has a consensus rating of “Hold” and an average price target of $131.75.

Insider Activity

In related news, EVP Jeffrey Robert Strom sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $135.00, for a total transaction of $337,500.00. Following the completion of the transaction, the executive vice president now directly owns 43,353 shares in the company, valued at approximately $5,852,655. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Jill Twedt sold 1,852 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $135.00, for a total transaction of $250,020.00. Following the completion of the transaction, the senior vice president now directly owns 37,437 shares in the company, valued at approximately $5,053,995. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jeffrey Robert Strom sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $135.00, for a total transaction of $337,500.00. Following the transaction, the executive vice president now owns 43,353 shares of the company’s stock, valued at $5,852,655. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.

Boise Cascade Price Performance

Shares of NYSE:BCC traded down $1.64 during midday trading on Friday, hitting $115.83. The stock had a trading volume of 280,546 shares, compared to its average volume of 342,712. The company’s 50-day moving average price is $130.27 and its 200-day moving average price is $134.35. The company has a market capitalization of $4.57 billion, a P/E ratio of 9.42 and a beta of 1.50. The company has a quick ratio of 2.05, a current ratio of 3.24 and a debt-to-equity ratio of 0.21. Boise Cascade has a fifty-two week low of $87.32 and a fifty-two week high of $154.67.

Boise Cascade (NYSE:BCC) last issued its earnings results on Monday, May 6th. The construction company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.30 by $0.31. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Boise Cascade had a net margin of 7.08% and a return on equity of 22.00%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.43 EPS. As a group, equities research analysts predict that Boise Cascade will post 10.84 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Monday, June 3rd. Boise Cascade’s payout ratio is presently 6.50%.

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.