Rockefeller Capital Management L.P. Decreases Stock Position in Boise Cascade, L.L.C. $BCC

Rockefeller Capital Management L.P. trimmed its position in Boise Cascade, L.L.C. (NYSE:BCC) by 99.2% during the 4th quarter, HoldingsChannel reports. The firm owned 792 shares of the construction company’s stock after selling 99,771 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Boise Cascade were worth $58,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Corient Private Wealth LLC bought a new position in Boise Cascade during the fourth quarter valued at approximately $425,000. Invesco Ltd. increased its stake in Boise Cascade by 1.3% in the 4th quarter. Invesco Ltd. now owns 202,488 shares of the construction company’s stock worth $14,903,000 after acquiring an additional 2,640 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Boise Cascade by 2.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 33,481 shares of the construction company’s stock worth $2,464,000 after acquiring an additional 934 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Boise Cascade during the 4th quarter worth approximately $4,029,000. Finally, Concentric Capital Strategies LP boosted its position in shares of Boise Cascade by 202.0% during the 4th quarter. Concentric Capital Strategies LP now owns 425,179 shares of the construction company’s stock valued at $31,293,000 after acquiring an additional 284,406 shares during the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BCC has been the subject of a number of recent research reports. DA Davidson cut their target price on shares of Boise Cascade from $95.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Weiss Ratings raised shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Zacks Research upgraded shares of Boise Cascade from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Finally, Truist Financial set a $97.00 target price on shares of Boise Cascade in a research report on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.75.

Insider Buying and Selling

In related news, SVP Jill Twedt sold 6,070 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $66.45, for a total value of $403,351.50. Following the sale, the senior vice president directly owned 26,545 shares of the company’s stock, valued at $1,763,915.25. This represents a 18.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.42% of the company’s stock.

Boise Cascade Stock Down 0.3%

Shares of BCC opened at $75.80 on Monday. The company has a market cap of $2.67 billion, a PE ratio of 25.61, a P/E/G ratio of 1.14 and a beta of 1.08. The business has a fifty day moving average of $71.59 and a 200 day moving average of $76.82. Boise Cascade, L.L.C. has a 52-week low of $65.00 and a 52-week high of $93.06. The company has a quick ratio of 1.37, a current ratio of 2.77 and a debt-to-equity ratio of 0.24.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Monday, May 4th. The construction company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.07. Boise Cascade had a net margin of 1.73% and a return on equity of 5.55%. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the business posted $1.06 earnings per share. The business’s revenue was down 2.5% compared to the same quarter last year. On average, sell-side analysts expect that Boise Cascade, L.L.C. will post 3.67 EPS for the current year.

Boise Cascade Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Monday, June 1st were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, June 1st. Boise Cascade’s dividend payout ratio is presently 29.73%.

About Boise Cascade

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company’s operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.