Summit Global Investments Buys 2,186 Shares of Boise Cascade (NYSE:BCC)

Summit Global Investments raised its position in shares of Boise Cascade (NYSE:BCC) by 19.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,700 shares of the construction company’s stock after acquiring an additional 2,186 shares during the period. Summit Global Investments’ holdings in Boise Cascade were worth $1,772,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling

In other Boise Cascade news, EVP Dean Michael Brown sold 11,117 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 40,237 shares in the company, valued at $5,596,564.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.98% of the stock is currently owned by company insiders.

Boise Cascade Stock Up 1.2 %

Boise Cascade stock traded up $1.63 during midday trading on Friday, hitting $136.11. 328,037 shares of the company’s stock were exchanged, compared to its average volume of 295,876. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.26 and a current ratio of 3.46. The company has a market cap of $5.38 billion, a PE ratio of 11.23 and a beta of 1.64. The firm has a 50-day moving average of $140.20 and a two-hundred day moving average of $126.97. Boise Cascade has a 12 month low of $66.82 and a 12 month high of $154.67.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data on Wednesday, February 21st. The construction company reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($0.01). The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.64 billion. Boise Cascade had a net margin of 7.07% and a return on equity of 21.94%. Boise Cascade’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.95 earnings per share. As a group, analysts expect that Boise Cascade will post 11.44 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Monday, June 3rd. Boise Cascade’s dividend payout ratio (DPR) is currently 6.60%.

Wall Street Analysts Forecast Growth

BCC has been the subject of a number of recent analyst reports. Truist Financial boosted their target price on shares of Boise Cascade from $156.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Finally, The Goldman Sachs Group raised their target price on shares of Boise Cascade from $114.00 to $129.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $125.00.

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.