Mackenzie Financial Corp Boosts Position in Boise Cascade (NYSE:BCC)

Mackenzie Financial Corp boosted its position in shares of Boise Cascade (NYSE:BCC) by 8.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,405 shares of the construction company’s stock after acquiring an additional 577 shares during the quarter. Mackenzie Financial Corp’s holdings in Boise Cascade were worth $958,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BCC. Global Retirement Partners LLC increased its position in Boise Cascade by 1,147.1% in the fourth quarter. Global Retirement Partners LLC now owns 212 shares of the construction company’s stock worth $28,000 after buying an additional 195 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of 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 acquiring an additional 187 shares during the period. Blue Trust Inc. boosted its stake in shares of Boise Cascade by 58.1% in the fourth quarter. Blue Trust Inc. now owns 544 shares of the construction company’s stock worth $70,000 after acquiring an additional 200 shares during the period. C M Bidwell & Associates Ltd. boosted its stake in shares of Boise Cascade by 4,706.9% in the third quarter. C M Bidwell & Associates Ltd. now owns 1,394 shares of the construction company’s stock worth $144,000 after acquiring an additional 1,365 shares during the period. Finally, Highland Capital Management LLC bought a new position in shares of Boise Cascade in the fourth quarter worth about $213,000. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Analyst Ratings Changes

BCC has been the subject of a number of research reports. StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. The Goldman Sachs Group increased their price target on Boise Cascade from $114.00 to $129.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. Finally, Truist Financial raised their price objective on Boise Cascade from $156.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. One 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $125.00.

Boise Cascade Price Performance

Shares of Boise Cascade stock opened at $138.46 on Friday. The stock has a market capitalization of $5.48 billion, a P/E ratio of 11.03 and a beta of 1.60. Boise Cascade has a 12 month low of $64.39 and a 12 month high of $154.67. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.46 and a quick ratio of 2.26. The business has a 50 day simple moving average of $139.98 and a two-hundred day simple moving average of $125.26.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Wednesday, February 21st. The construction company reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($0.01). The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Boise Cascade had a return on equity of 21.94% and a net margin of 7.07%. The company’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.95 earnings per share. As a group, analysts predict that Boise Cascade will post 11.5 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders 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 yield of 0.58%. The ex-dividend date was Thursday, February 22nd. Boise Cascade’s dividend payout ratio (DPR) is 6.60%.

Insiders Place Their Bets

In other 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 directly owns 40,237 shares in the company, valued at $5,596,564.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.98% of the stock is owned by insiders.

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.