AXQ Capital LP Takes Position in Boise Cascade (NYSE:BCC)

AXQ Capital LP purchased a new stake in Boise Cascade (NYSE:BCC) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 2,531 shares of the construction company’s stock, valued at approximately $301,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. R Squared Ltd bought a new position in shares of Boise Cascade in the 4th quarter valued at $29,000. Larson Financial Group LLC grew its position in Boise Cascade by 23.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock worth $53,000 after acquiring an additional 73 shares during the last quarter. Principal Securities Inc. grew its position in Boise Cascade by 44.2% during the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock worth $56,000 after acquiring an additional 145 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Boise Cascade by 254.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company’s stock worth $92,000 after acquiring an additional 558 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in Boise Cascade by 234.2% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,270 shares of the construction company’s stock worth $179,000 after acquiring an additional 890 shares during the last quarter. Institutional investors own 96.18% of the company’s stock.

Insider Activity

In related news, COO Jeffrey Robert Strom sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total transaction of $450,945.00. Following the transaction, the chief operating officer now directly owns 38,026 shares of the company’s stock, valued at approximately $3,810,585.46. This represents a 10.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kristopher J. Matula sold 553 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $1,351,292.84. This trade represents a 4.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is owned by company insiders.

Boise Cascade Trading Down 1.0 %

NYSE BCC opened at $99.46 on Monday. The business’s 50-day moving average price is $114.75 and its two-hundred day moving average price is $128.17. Boise Cascade has a 12 month low of $95.33 and a 12 month high of $155.42. The firm has a market capitalization of $3.77 billion, a PE ratio of 10.40 and a beta of 1.67. 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 announced its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). The business 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%. On average, analysts expect that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Monday, February 24th. Boise Cascade’s dividend payout ratio is 8.79%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BCC shares. Benchmark restated a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. Truist Financial reduced their price objective on Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. DA Davidson reduced their price objective on Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. BMO Capital Markets reduced their price objective on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 25th. Finally, The Goldman Sachs Group reduced their price target on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.