Seven Eight Capital LP Has $689,000 Stake in Boise Cascade (NYSE:BCC)

Seven Eight Capital LP lifted its holdings in shares of Boise Cascade (NYSE:BCCFree Report) by 37.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,685 shares of the construction company’s stock after acquiring an additional 1,821 shares during the quarter. Seven Eight Capital LP’s holdings in Boise Cascade were worth $689,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Nomura Holdings Inc. boosted its holdings in shares of Boise Cascade by 395.2% during the third quarter. Nomura Holdings Inc. now owns 82,799 shares of the construction company’s stock worth $8,532,000 after acquiring an additional 66,080 shares during the period. O Shaughnessy Asset Management LLC lifted its position in Boise Cascade by 13.6% during the third quarter. O Shaughnessy Asset Management LLC now owns 11,098 shares of the construction company’s stock worth $1,144,000 after purchasing an additional 1,326 shares during the period. C M Bidwell & Associates Ltd. increased its stake in Boise Cascade by 4,706.9% in the third quarter. C M Bidwell & Associates Ltd. now owns 1,394 shares of the construction company’s stock valued at $144,000 after acquiring an additional 1,365 shares during the last quarter. Hanseatic Management Services Inc. acquired a new stake in shares of Boise Cascade in the 3rd quarter valued at $587,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Boise Cascade by 361.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,629 shares of the construction company’s stock valued at $1,095,000 after purchasing an additional 8,328 shares during the last quarter. 91.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. The Goldman Sachs Group lifted their price target on shares of 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 raised their target price on shares of Boise Cascade from $126.00 to $156.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $121.20.

Read Our Latest Research Report on BCC

Insider Activity

In other news, EVP Dean Michael Brown sold 11,117 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $139.09, for a total value of $1,546,263.53. Following the transaction, the executive vice president now owns 40,237 shares in the company, valued at $5,596,564.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.98% of the company’s stock.

Boise Cascade Stock Performance

Boise Cascade stock opened at $129.20 on Friday. The company has a market capitalization of $5.11 billion, a P/E ratio of 10.66 and a beta of 1.59. Boise Cascade has a 1 year low of $59.32 and a 1 year high of $143.56. The business has a 50 day moving average of $133.48 and a 200-day moving average of $116.01. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.46 and a quick ratio of 2.26.

Boise Cascade (NYSE:BCCGet Free Report) last announced its earnings results on Wednesday, February 21st. The construction company reported $2.44 EPS for the quarter, missing the consensus estimate of $2.45 by ($0.01). The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the company earned $2.95 EPS. On average, equities research analysts predict that Boise Cascade will post 11.35 earnings per share for the current year.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, February 23rd will be paid a $0.20 dividend. The ex-dividend date is Thursday, February 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.62%. Boise Cascade’s dividend payout ratio (DPR) is presently 6.60%.

Boise Cascade Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Boise Cascade (NYSE:BCC)

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