Trexquant Investment LP Takes $5.71 Million Position in Boise Cascade (NYSE:BCC)

Trexquant Investment LP purchased a new stake in Boise Cascade (NYSE:BCC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 47,994 shares of the construction company’s stock, valued at approximately $5,705,000. Trexquant Investment LP owned 0.12% of Boise Cascade at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Meeder Asset Management Inc. boosted its holdings in Boise Cascade by 22.7% during the 4th quarter. Meeder Asset Management Inc. now owns 34,088 shares of the construction company’s stock worth $4,052,000 after acquiring an additional 6,297 shares during the last quarter. Brandywine Global Investment Management LLC boosted its holdings in Boise Cascade by 1.2% in the 4th quarter. Brandywine Global Investment Management LLC now owns 155,349 shares of the construction company’s stock worth $18,465,000 after buying an additional 1,904 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Boise Cascade by 118.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 41,895 shares of the construction company’s stock worth $4,980,000 after acquiring an additional 22,689 shares during the period. Orion Portfolio Solutions LLC grew its holdings in Boise Cascade by 27.6% during the 4th quarter. Orion Portfolio Solutions LLC now owns 2,582 shares of the construction company’s stock valued at $307,000 after buying an additional 559 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in Boise Cascade by 43.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 84,423 shares of the construction company’s stock valued at $10,035,000 after acquiring an additional 25,673 shares in the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on BCC. Benchmark restated a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. Loop Capital lowered their target price on Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, February 24th. The Goldman Sachs Group cut their price target on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. BMO Capital Markets dropped their target price on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a research report on Tuesday, February 25th. Finally, 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 report on Monday, February 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $128.50.

Insider Activity at Boise Cascade

In related news, COO Jeffrey Robert Strom sold 4,500 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total transaction of $450,945.00. Following the completion of the transaction, the chief operating officer now owns 38,026 shares in the company, valued at approximately $3,810,585.46. This represents a 10.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kristopher J. Matula sold 553 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total value of $57,047.48. Following the transaction, the director now owns 13,099 shares of the company’s stock, valued at approximately $1,351,292.84. The trade was a 4.05 % decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is owned by company insiders.

Boise Cascade Trading Up 0.8 %

Shares of NYSE:BCC opened at $95.38 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92. The company has a market cap of $3.62 billion, a P/E ratio of 9.98 and a beta of 1.67. The stock’s fifty day moving average price is $109.24 and its 200-day moving average price is $126.25. Boise Cascade has a 1 year low of $89.59 and a 1 year high of $155.42.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. Sell-side analysts expect that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.88%. The ex-dividend date was Monday, February 24th. Boise Cascade’s dividend payout ratio is presently 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.