Proficio Capital Partners LLC Acquires New Position in Boise Cascade (NYSE:BCC)

Proficio Capital Partners LLC bought a new position in shares of Boise Cascade (NYSE:BCC) during the fourth quarter, HoldingsChannel.com reports. The firm bought 28,051 shares of the construction company’s stock, valued at approximately $3,334,000.

A number of other hedge funds also recently added to or reduced their stakes in BCC. First Trust Direct Indexing L.P. raised its stake in shares of Boise Cascade by 7.3% in the third quarter. First Trust Direct Indexing L.P. now owns 1,893 shares of the construction company’s stock valued at $267,000 after acquiring an additional 128 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Boise Cascade during the 3rd quarter worth about $28,000. Van ECK Associates Corp raised its position in Boise Cascade by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 24,415 shares of the construction company’s stock valued at $3,269,000 after purchasing an additional 6,975 shares in the last quarter. QRG Capital Management Inc. raised its position in Boise Cascade by 2.5% in the 3rd quarter. QRG Capital Management Inc. now owns 31,495 shares of the construction company’s stock valued at $4,440,000 after purchasing an additional 780 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in shares of Boise Cascade by 10.1% in the 3rd quarter. Assetmark Inc. now owns 54,522 shares of the construction company’s stock valued at $7,687,000 after buying an additional 5,019 shares during the period. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Boise Cascade

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total transaction of $57,047.48. Following the transaction, the director now directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.98% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BCC has been the topic of a number of recent research reports. Loop Capital cut their target price on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. The Goldman Sachs Group dropped their price objective on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Truist Financial decreased their price objective on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a research report on Monday, February 24th. DA Davidson lowered their target price on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Finally, Benchmark restated a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $128.50.

Boise Cascade Trading Down 3.9 %

Shares of Boise Cascade stock opened at $98.20 on Wednesday. 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 fifty day simple moving average of $120.34 and a 200-day simple moving average of $131.36. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 10.27 and a beta of 1.57. Boise Cascade has a 12-month low of $97.21 and a 12-month high of $155.42.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data 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 net margin of 5.60% and a return on equity of 17.04%. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.57 billion. On average, equities analysts forecast that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.86%. The ex-dividend date is Monday, February 24th. Boise Cascade’s dividend payout ratio (DPR) is 8.79%.

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.