GAMMA Investing LLC Invests $80,000 in Boise Cascade (NYSE:BCC)

GAMMA Investing LLC bought a new position in shares of Boise Cascade (NYSE:BCC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 588 shares of the construction company’s stock, valued at approximately $80,000.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Boise Cascade by 0.9% in the third quarter. Vanguard Group Inc. now owns 4,673,313 shares of the construction company’s stock valued at $481,538,000 after acquiring an additional 43,896 shares during the period. Acadian Asset Management LLC grew its position in shares of Boise Cascade by 13.8% during the 3rd quarter. Acadian Asset Management LLC now owns 1,473,620 shares of the construction company’s stock worth $151,820,000 after purchasing an additional 178,439 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Boise Cascade by 45.0% during the third quarter. Wellington Management Group LLP now owns 1,349,170 shares of the construction company’s stock worth $139,018,000 after purchasing an additional 418,891 shares during the period. Pacer Advisors Inc. raised its position in shares of Boise Cascade by 59.7% in the fourth quarter. Pacer Advisors Inc. now owns 1,096,986 shares of the construction company’s stock valued at $141,906,000 after buying an additional 409,906 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Boise Cascade by 14.2% in the third quarter. American Century Companies Inc. now owns 701,301 shares of the construction company’s stock valued at $72,262,000 after buying an additional 87,411 shares during the period. 96.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BCC has been the topic of a number of recent analyst reports. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. The Goldman Sachs Group lifted their price objective 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, Truist Financial raised their target price on Boise Cascade from $156.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $125.00.

Insider Buying and Selling at Boise Cascade

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

Boise Cascade Trading Down 0.8 %

Shares of Boise Cascade stock opened at $138.26 on Tuesday. The firm’s 50 day moving average is $139.85 and its 200 day moving average is $126.31. The firm has a market capitalization of $5.47 billion, a PE ratio of 11.41 and a beta of 1.60. Boise Cascade has a 1 year low of $66.82 and a 1 year 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.

Boise Cascade (NYSE:BCC) last posted its earnings results 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). The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.64 billion. Boise Cascade had a return on equity of 21.94% and a net margin of 7.07%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.95 EPS. Equities research analysts forecast that Boise Cascade will post 11.44 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

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

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.