Mirae Asset Global Investments Co. Ltd. Buys 9,928 Shares of Boise Cascade (NYSE:BCC)

Mirae Asset Global Investments Co. Ltd. lifted its position in Boise Cascade (NYSE:BCC) by 50.4% during the 4th quarter, HoldingsChannel reports. The firm owned 29,624 shares of the construction company’s stock after acquiring an additional 9,928 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Boise Cascade were worth $3,832,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in BCC. Neo Ivy Capital Management purchased a new position in Boise Cascade during the 2nd quarter valued at approximately $25,000. Global Retirement Partners LLC grew its holdings in shares of Boise Cascade by 1,147.1% in the fourth quarter. Global Retirement Partners LLC now owns 212 shares of the construction company’s stock valued at $28,000 after purchasing an additional 195 shares in the last quarter. Hexagon Capital Partners LLC increased its position in Boise Cascade by 76.0% in the third 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 last quarter. Penserra Capital Management LLC purchased a new stake in Boise Cascade during the third quarter valued at $52,000. Finally, Blue Trust Inc. raised its stake in Boise Cascade by 58.1% during the fourth quarter. Blue Trust Inc. now owns 544 shares of the construction company’s stock valued at $70,000 after purchasing an additional 200 shares in the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Boise Cascade Price Performance

Boise Cascade stock opened at $138.95 on Wednesday. Boise Cascade has a 12-month low of $64.39 and a 12-month high of $154.67. The company has a current ratio of 3.46, a quick ratio of 2.26 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $140.28 and a 200-day moving average price of $123.91. The firm has a market capitalization of $5.50 billion, a PE ratio of 11.46 and a beta of 1.60.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Wednesday, February 21st. The construction company reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates 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 last year, the company earned $2.95 earnings per share. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, equities research analysts forecast that Boise Cascade will post 11.58 EPS for the current year.

Boise Cascade Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 23rd were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Thursday, February 22nd. Boise Cascade’s dividend payout ratio is currently 6.60%.

Analyst Ratings Changes

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

Insider Activity at Boise Cascade

In other Boise Cascade news, EVP Dean Michael Brown sold 11,117 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $139.09, for a total value of $1,546,263.53. Following the sale, the executive vice president now owns 40,237 shares in the company, valued at $5,596,564.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.05% of the stock is owned by company insiders.

Boise Cascade 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.