Wedge Capital Management L L P NC Has $14.29 Million Stake in Boise Cascade (NYSE:BCC)

Wedge Capital Management L L P NC lifted its position in shares of Boise Cascade (NYSE:BCC) by 1,572.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,445 shares of the construction company’s stock after purchasing an additional 103,842 shares during the quarter. Wedge Capital Management L L P NC owned 0.28% of Boise Cascade worth $14,287,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BCC. Global Retirement Partners LLC grew its holdings in Boise Cascade by 1,147.1% during the fourth quarter. Global Retirement Partners LLC now owns 212 shares of the construction company’s stock worth $28,000 after buying an additional 195 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in Boise Cascade by 76.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 433 shares of the construction company’s stock worth $45,000 after purchasing an additional 187 shares during the period. Blue Trust Inc. boosted its stake in Boise Cascade by 58.1% in the 4th quarter. Blue Trust Inc. now owns 544 shares of the construction company’s stock worth $70,000 after purchasing an additional 200 shares during the period. C M Bidwell & Associates Ltd. boosted its position in shares of Boise Cascade by 4,706.9% during the 3rd quarter. C M Bidwell & Associates Ltd. now owns 1,394 shares of the construction company’s stock valued at $144,000 after acquiring an additional 1,365 shares during the last quarter. Finally, Highland Capital Management LLC bought a new stake in shares of Boise Cascade during the 4th quarter valued at about $213,000. 96.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. The Goldman Sachs Group lifted their price target on Boise Cascade from $114.00 to $129.00 and gave the company a “neutral” rating in a research report on Thursday, January 11th. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, Truist Financial lifted their price target on Boise Cascade from $156.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $125.00.

Boise Cascade Stock Up 1.7 %

BCC stock traded up $2.30 during midday trading on Tuesday, hitting $135.32. The stock had a trading volume of 15,547 shares, compared to its average volume of 294,120. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of 10.98 and a beta of 1.60. The business has a 50-day moving average of $139.96 and a two-hundred day moving average of $124.88. Boise Cascade has a 52-week low of $64.39 and a 52-week high of $154.67. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.46 and a quick ratio of 2.26.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Wednesday, February 21st. The construction company reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($0.01). Boise Cascade had a return on equity of 21.94% and a net margin of 7.07%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the previous year, the company earned $2.95 earnings per share. Boise Cascade’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities research analysts forecast that Boise Cascade will post 11.5 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 23rd were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.59%. The ex-dividend date was Thursday, February 22nd. Boise Cascade’s dividend payout ratio (DPR) is 6.60%.

Insiders Place Their Bets

In other news, EVP Dean Michael Brown sold 11,117 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $139.09, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.05% of the company’s stock.

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.