Los Angeles Capital Management LLC Sells 7,037 Shares of Boise Cascade (NYSE:BCC)

Los Angeles Capital Management LLC trimmed its stake in Boise Cascade (NYSE:BCC) by 31.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,555 shares of the construction company’s stock after selling 7,037 shares during the period. Los Angeles Capital Management LLC’s holdings in Boise Cascade were worth $2,012,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of BCC. Owen LaRue LLC bought a new stake in Boise Cascade during the 4th quarter valued at about $1,865,000. Hexagon Capital Partners LLC increased its position in shares of Boise Cascade by 71.6% during the fourth quarter. Hexagon Capital Partners LLC now owns 743 shares of the construction company’s stock worth $96,000 after acquiring an additional 310 shares during the period. Jackson Creek Investment Advisors LLC bought a new stake in shares of Boise Cascade during the fourth quarter valued at approximately $1,200,000. Van ECK Associates Corp boosted its holdings in shares of Boise Cascade by 18.6% in the fourth quarter. Van ECK Associates Corp now owns 12,532 shares of the construction company’s stock valued at $1,621,000 after purchasing an additional 1,967 shares during the period. Finally, SummerHaven Investment Management LLC boosted its holdings in shares of Boise Cascade by 1.2% in the fourth quarter. SummerHaven Investment Management LLC now owns 7,593 shares of the construction company’s stock valued at $982,000 after purchasing an additional 93 shares during the period. 96.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Boise Cascade

In other Boise Cascade news, EVP Dean Michael Brown sold 11,117 shares of Boise Cascade stock in a transaction on Monday, March 4th. The shares were 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 directly owns 40,237 shares of the company’s stock, valued at $5,596,564.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.05% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BCC shares. StockNews.com raised Boise Cascade from a “hold” rating to a “buy” rating in a research report on Tuesday. The Goldman Sachs Group raised their price target on Boise Cascade from $114.00 to $129.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Finally, Truist Financial upped their price objective on shares of Boise Cascade from $156.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Boise Cascade currently has an average rating of “Hold” and an average target price of $125.00.

Boise Cascade Stock Down 6.2 %

Shares of NYSE BCC opened at $130.67 on Wednesday. The stock has a market capitalization of $5.17 billion, a PE ratio of 10.78 and a beta of 1.64. The company has a current ratio of 3.46, a quick ratio of 2.26 and a debt-to-equity ratio of 0.22. Boise Cascade has a 12-month low of $70.66 and a 12-month high of $154.67. The stock’s fifty day simple moving average is $140.32 and its two-hundred day simple moving average is $128.04.

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 analysts’ consensus estimates of $2.30 by $0.31. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.56 billion. Boise Cascade had a return on equity of 21.94% and a net margin of 7.07%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.43 earnings per share. As a group, analysts expect that Boise Cascade will post 11.44 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Monday, June 3rd. Boise Cascade’s payout ratio is currently 6.60%.

Boise Cascade Company 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.