EFG Asset Management North America Corp. Boosts Stock Position in Boise Cascade (NYSE:BCC)

EFG Asset Management North America Corp. raised its position in shares of Boise Cascade (NYSE:BCC) by 59.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 18,220 shares of the construction company’s stock after buying an additional 6,770 shares during the period. EFG Asset Management North America Corp.’s holdings in Boise Cascade were worth $2,166,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. American Century Companies Inc. raised its stake in shares of Boise Cascade by 12.0% during the 4th quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock worth $134,831,000 after acquiring an additional 121,790 shares in the last quarter. Bank of Montreal Can grew its holdings 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 worth $17,907,000 after purchasing an additional 119,103 shares during the last quarter. FMR LLC increased its position in shares of Boise Cascade by 158.9% during the third quarter. FMR LLC now owns 126,123 shares of the construction company’s stock worth $17,781,000 after purchasing an additional 77,401 shares in the last quarter. Barclays PLC lifted its holdings in shares of Boise Cascade by 174.1% during the 3rd quarter. Barclays PLC now owns 90,366 shares of the construction company’s stock valued at $12,739,000 after purchasing an additional 57,403 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Boise Cascade in the 3rd quarter worth $7,653,000. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Price Performance

Shares of NYSE:BCC opened at $101.39 on Wednesday. Boise Cascade has a twelve month low of $95.33 and a twelve 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. The company has a market cap of $3.85 billion, a PE ratio of 10.61 and a beta of 1.67. The company’s 50 day moving average is $113.97 and its 200 day moving average is $127.86.

Boise Cascade (NYSE:BCC) last issued its earnings results 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 for the quarter, compared to analysts’ expectations of $1.57 billion. On average, sell-side analysts forecast 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 was paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.84 annualized dividend and a dividend yield of 0.83%. Boise Cascade’s dividend payout ratio (DPR) is presently 8.79%.

Insider Transactions at Boise Cascade

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 shares were sold at an average price of $100.21, for a total value of $450,945.00. Following the completion of the transaction, the chief operating officer now owns 38,026 shares of the company’s stock, valued at approximately $3,810,585.46. The trade was a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 transaction, the director now owns 13,099 shares of the company’s stock, valued at approximately $1,351,292.84. This trade represents a 4.05 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.98% of the company’s stock.

Wall Street Analysts Forecast Growth

BCC has been the topic of several recent analyst reports. Benchmark reaffirmed a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. DA Davidson decreased their price objective on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Loop Capital lowered their target price 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. Truist Financial cut their price target on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Finally, BMO Capital Markets lowered their price objective on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a research note on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Boise Cascade currently has an average rating of “Hold” and a consensus price target of $128.50.

About Boise Cascade

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.