Boise Cascade (NYSE:BCC) Shares Sold by AlphaQuest LLC

AlphaQuest LLC lessened its stake in shares of Boise Cascade (NYSE:BCC) by 68.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,265 shares of the construction company’s stock after selling 4,988 shares during the quarter. AlphaQuest LLC’s holdings in Boise Cascade were worth $269,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of BCC. Bank of Montreal Can lifted its position in Boise Cascade by 1,597.4% in the third quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock valued at $17,907,000 after acquiring an additional 119,103 shares during the last quarter. FMR LLC lifted its holdings in shares of Boise Cascade by 158.9% in the 3rd quarter. FMR LLC now owns 126,123 shares of the construction company’s stock valued at $17,781,000 after purchasing an additional 77,401 shares during the last quarter. Barclays PLC grew its stake in Boise Cascade by 174.1% during the 3rd quarter. Barclays PLC now owns 90,366 shares of the construction company’s stock worth $12,739,000 after buying an additional 57,403 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Boise Cascade during the 3rd quarter worth approximately $7,653,000. Finally, World Investment Advisors LLC acquired a new position in Boise Cascade during the third quarter worth approximately $3,995,000. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Stock Performance

NYSE BCC opened at $99.29 on Friday. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 10.39 and a beta of 1.67. The business’s 50 day moving average is $116.54 and its two-hundred day moving average is $129.32. Boise Cascade has a 12-month low of $95.33 and a 12-month high of $155.42. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $1.57 billion. Research analysts expect that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, February 24th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Monday, February 24th. Boise Cascade’s dividend payout ratio (DPR) is 8.79%.

Insider Buying and Selling

In other Boise Cascade news, COO Jeffrey Robert Strom sold 4,500 shares of the company’s 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 sale, the chief operating officer now owns 38,026 shares of the company’s stock, valued at approximately $3,810,585.46. This represents a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kristopher J. Matula sold 553 shares of Boise Cascade stock in a transaction on 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 of the company’s stock, 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. 1.05% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on BCC shares. Loop Capital lowered their target price on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. BMO Capital Markets reduced 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 report on Tuesday, February 25th. The Goldman Sachs Group lowered their price target on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. 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. Finally, Benchmark reiterated a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Boise Cascade currently has an average rating of “Hold” and a consensus price target of $128.50.

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.