Trexquant Investment LP Takes $5.71 Million Position in Boise Cascade (NYSE:BCC)

Trexquant Investment LP purchased a new position in shares of Boise Cascade (NYSE:BCC) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 47,994 shares of the construction company’s stock, valued at approximately $5,705,000.

Several other large investors have also modified their holdings of BCC. Cerity Partners LLC boosted its position in Boise Cascade by 34.5% in the 3rd quarter. Cerity Partners LLC now owns 3,897 shares of the construction company’s stock valued at $549,000 after buying an additional 999 shares during the period. FMR LLC boosted its stake 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 acquiring an additional 77,401 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Boise Cascade by 30.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,716 shares of the construction company’s stock worth $2,921,000 after purchasing an additional 4,860 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Boise Cascade by 14.5% in the third quarter. Rockefeller Capital Management L.P. now owns 25,994 shares of the construction company’s stock worth $3,665,000 after acquiring an additional 3,298 shares in the last quarter. Finally, Integrated Wealth Concepts LLC grew its position in Boise Cascade by 22.4% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 23,279 shares of the construction company’s stock worth $3,282,000 after purchasing an additional 4,257 shares during the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on BCC shares. Truist Financial dropped their price target 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. The Goldman Sachs Group dropped their price target on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Benchmark restated a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. BMO Capital Markets cut their target price on shares of 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. Finally, DA Davidson reduced their price objective on Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a research note on Monday, February 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $128.50.

Boise Cascade Price Performance

Shares of BCC stock opened at $95.38 on Friday. The company has a market capitalization of $3.62 billion, a PE ratio of 9.98 and a beta of 1.67. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92. The firm’s 50-day moving average is $109.24 and its two-hundred day moving average is $126.25. Boise Cascade has a 12 month low of $89.59 and a 12 month high of $155.42.

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

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, February 24th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.88%. The ex-dividend date was Monday, February 24th. Boise Cascade’s payout ratio is 8.79%.

Insider Activity

In related news, COO Jeffrey Robert Strom sold 4,500 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total value of $450,945.00. Following the transaction, the chief operating officer now owns 38,026 shares of the company’s stock, valued at $3,810,585.46. This represents a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 sale, 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 disclosure for this sale can be found here. Insiders own 0.98% of the company’s stock.

About Boise Cascade

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.