Aster Capital Management DIFC Ltd Takes $549,000 Position in Boise Cascade (NYSE:BCC)

Aster Capital Management DIFC Ltd acquired a new stake in Boise Cascade (NYSE:BCC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,621 shares of the construction company’s stock, valued at approximately $549,000.

A number of other hedge funds have also modified their holdings of the business. Envestnet Asset Management Inc. raised its position in shares of Boise Cascade by 6.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 134,715 shares of the construction company’s stock worth $16,012,000 after buying an additional 8,357 shares during the period. Dynamic Technology Lab Private Ltd grew its holdings in Boise Cascade by 24.4% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 9,820 shares of the construction company’s stock worth $1,167,000 after acquiring an additional 1,926 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Boise Cascade by 9.2% during the fourth quarter. Wells Fargo & Company MN now owns 90,347 shares of the construction company’s stock worth $10,739,000 after purchasing an additional 7,578 shares during the last quarter. Unison Advisors LLC lifted its holdings in Boise Cascade by 3.6% in the fourth quarter. Unison Advisors LLC now owns 7,443 shares of the construction company’s stock worth $885,000 after acquiring an additional 261 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in Boise Cascade during the 4th quarter worth $5,705,000. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Trading Up 0.8 %

Boise Cascade stock opened at $95.38 on Monday. Boise Cascade has a 52 week low of $89.59 and a 52 week high of $155.42. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34. The firm has a market capitalization of $3.62 billion, a PE ratio of 9.98 and a beta of 1.52. The business’s 50-day simple moving average is $109.24 and its 200-day simple moving average is $126.11.

Boise Cascade (NYSE:BCC) last posted 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 company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion. Equities research analysts forecast 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 $0.21 dividend. The ex-dividend date was Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.88%. Boise Cascade’s payout ratio is 8.79%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BCC. BMO Capital Markets cut their price objective on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 25th. Loop Capital decreased their price objective on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, February 24th. The Goldman Sachs Group lowered their price target on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Truist Financial reduced their price target on Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a report on Monday, February 24th. Finally, Benchmark restated a “hold” rating on shares of Boise Cascade in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, four have given 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 price target of $128.50.

Insider Buying and Selling

In other Boise Cascade news, COO Jeffrey Robert Strom sold 4,500 shares of Boise Cascade stock in a transaction 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 completion of 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 trade represents a 10.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kristopher J. Matula sold 553 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total transaction of $57,047.48. Following the completion of the sale, the director now directly owns 13,099 shares in the company, valued at approximately $1,351,292.84. The trade was a 4.05 % decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is owned by company insiders.

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.