Seven Eight Capital LP Buys Shares of 13,596 Boise Cascade (NYSE:BCC)

Seven Eight Capital LP bought a new stake in shares of Boise Cascade (NYSE:BCC) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 13,596 shares of the construction company’s stock, valued at approximately $2,085,000.

Several other large investors have also recently bought and sold shares of the stock. SummerHaven Investment Management LLC increased its stake in Boise Cascade by 1.2% during the 4th quarter. SummerHaven Investment Management LLC now owns 7,593 shares of the construction company’s stock valued at $982,000 after buying an additional 93 shares during the period. Measured Wealth Private Client Group LLC boosted its position in shares of Boise Cascade by 1.8% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 5,273 shares of the construction company’s stock valued at $809,000 after purchasing an additional 95 shares in the last quarter. New York State Teachers Retirement System boosted its position in shares of Boise Cascade by 0.4% during the 4th quarter. New York State Teachers Retirement System now owns 30,844 shares of the construction company’s stock valued at $3,990,000 after purchasing an additional 108 shares in the last quarter. Bridge City Capital LLC boosted its position in shares of Boise Cascade by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 18,270 shares of the construction company’s stock valued at $2,802,000 after purchasing an additional 143 shares in the last quarter. Finally, Capstone Investment Advisors LLC boosted its position in shares of Boise Cascade by 4.4% during the 4th quarter. Capstone Investment Advisors LLC now owns 3,643 shares of the construction company’s stock valued at $471,000 after purchasing an additional 154 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Wall Street Analysts Forecast Growth

BCC has been the subject of several research reports. Truist Financial reduced their price objective on shares of Boise Cascade from $175.00 to $159.00 and set a “buy” rating for the company in a research report on Tuesday, July 16th. StockNews.com upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. Finally, The Goldman Sachs Group decreased their price target on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $126.00.

Boise Cascade Stock Up 0.2 %

Shares of BCC stock traded up $0.23 during trading on Tuesday, hitting $134.19. 252,596 shares of the company were exchanged, compared to its average volume of 311,589. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of 10.91 and a beta of 1.50. The business’s 50-day simple moving average is $128.37 and its 200 day simple moving average is $134.43. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.05 and a current ratio of 3.24. Boise Cascade has a twelve month low of $87.32 and a twelve month high of $154.67.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Monday, May 6th. The construction company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.31. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.56 billion. Boise Cascade had a net margin of 7.08% and a return on equity of 22.00%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.43 earnings per share. As a group, analysts forecast that Boise Cascade will post 10.41 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.60%. The ex-dividend date was Monday, June 3rd. Boise Cascade’s payout ratio is presently 6.50%.

Insider Activity at Boise Cascade

In other news, EVP Jeffrey Robert Strom sold 2,500 shares of Boise Cascade stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $135.00, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP Jill Twedt sold 1,852 shares of Boise Cascade stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $135.00, for a total value of $250,020.00. Following the transaction, the senior vice president now owns 37,437 shares of the company’s stock, valued at $5,053,995. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Jeffrey Robert Strom sold 2,500 shares of Boise Cascade 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 disclosure for this sale can be found here. 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.