Cerity Partners LLC Makes New $321,000 Investment in Boise Cascade (NYSE:BCC)

Cerity Partners LLC bought a new position in Boise Cascade (NYSE:BCC) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,480 shares of the construction company’s stock, valued at approximately $321,000.

Other large investors have also added to or reduced their stakes in the company. QRG Capital Management Inc. bought a new stake in Boise Cascade in the 3rd quarter worth approximately $2,682,000. DekaBank Deutsche Girozentrale grew its position in shares of Boise Cascade by 54.2% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 58,919 shares of the construction company’s stock valued at $7,596,000 after acquiring an additional 20,712 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Boise Cascade by 81.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 8,135 shares of the construction company’s stock valued at $1,052,000 after acquiring an additional 3,660 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Boise Cascade by 23.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,241 shares of the construction company’s stock valued at $952,000 after acquiring an additional 1,772 shares during the period. Finally, Hsbc Holdings PLC grew its position in shares of Boise Cascade by 312.5% during the 3rd quarter. Hsbc Holdings PLC now owns 30,893 shares of the construction company’s stock valued at $3,225,000 after acquiring an additional 23,404 shares during the period. Institutional investors own 96.18% of the company’s stock.

Insiders Place Their Bets

In other Boise Cascade news, EVP Dean Michael Brown sold 11,117 shares of the business’s stock in a transaction on Monday, March 4th. The shares were 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 approximately $5,596,564.33. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.98% of the company’s stock.

Boise Cascade Stock Up 0.7 %

BCC opened at $139.42 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.26 and a current ratio of 3.46. Boise Cascade has a fifty-two week low of $64.56 and a fifty-two week high of $154.67. The firm’s fifty day moving average is $139.88 and its 200 day moving average is $125.64. The stock has a market cap of $5.52 billion, a price-to-earnings ratio of 11.50 and a beta of 1.60.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Wednesday, February 21st. The construction company reported $2.44 EPS for the quarter, missing the consensus estimate of $2.45 by ($0.01). The company 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 firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.95 EPS. On average, sell-side analysts forecast that Boise Cascade will post 11.5 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 23rd were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Thursday, February 22nd. Boise Cascade’s payout ratio is currently 6.60%.

Wall Street Analysts Forecast Growth

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

About Boise Cascade

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.