Amalgamated Bank trimmed its stake in Boise Cascade (NYSE:BCC – Get Rating) by 5.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,864 shares of the construction company's stock after selling 1,082 shares during the period. Amalgamated Bank's holdings in Boise Cascade were worth $1,241,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Rockefeller Capital Management L.P. boosted its position in shares of Boise Cascade by 758.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 369 shares of the construction company's stock valued at $26,000 after acquiring an additional 326 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Boise Cascade during the 4th quarter valued at about $34,000. Mystic Asset Management Inc. acquired a new stake in shares of Boise Cascade during the 4th quarter valued at about $40,000. Koshinski Asset Management Inc. boosted its position in shares of Boise Cascade by 645.0% during the 1st quarter. Koshinski Asset Management Inc. now owns 745 shares of the construction company's stock valued at $52,000 after acquiring an additional 645 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new stake in shares of Boise Cascade during the 1st quarter valued at about $64,000. 93.66% of the stock is currently owned by institutional investors and hedge funds.
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Boise Cascade Trading Up 2.1 %
Shares of NYSE BCC opened at $56.53 on Wednesday. Boise Cascade has a 1-year low of $53.52 and a 1-year high of $85.17. The company has a market cap of $2.23 billion, a PE ratio of 2.87, a P/E/G ratio of 1.21 and a beta of 1.62. The company has a current ratio of 3.18, a quick ratio of 2.14 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average of $65.40 and a two-hundred day moving average of $69.96.
Boise Cascade (NYSE:BCC – Get Rating) last announced its earnings results on Monday, August 1st. The construction company reported $5.49 earnings per share for the quarter, topping analysts' consensus estimates of $4.64 by $0.85. Boise Cascade had a net
margin of 9.45% and a return on equity of 51.48%. The company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the firm posted $7.62 earnings per share. The company's revenue was down 6.8% on a year-over-year basis. As a group, equities analysts expect that Boise Cascade will post 20.48 earnings per share for the current fiscal year.
Boise Cascade Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Wednesday, August 31st. Boise Cascade's dividend payout ratio (DPR) is 2.44%.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on BCC. Bank of America decreased their target price on shares of Boise Cascade from $73.00 to $72.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 20th. The Goldman Sachs Group lifted their price target on shares of Boise Cascade from $63.00 to $70.00 and gave the company a "neutral" rating in a report on Wednesday, August 3rd. Truist Financial began coverage on shares of Boise Cascade in a report on Wednesday, June 29th. They set a "hold" rating and a $64.00 price target for the company. Finally, DA Davidson lifted their price target on shares of Boise Cascade to $85.00 in a report on Tuesday, August 9th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Boise Cascade currently has a consensus rating of "Hold" and an average target price of $72.75.
Insider Buying and Selling
In related news, CFO Kelly E. Hibbs sold 3,180 shares of the business's stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $68.96, for a total transaction of $219,292.80. Following the completion of the sale, the chief financial officer now directly owns 40,736 shares of the company's stock, valued at $2,809,154.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.89% of the stock is currently owned by insiders.
About Boise Cascade
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Boise Cascade Company manufactures wood products and distributes 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 lumber products.
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