Boise Cascade (NYSE:BCC) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp increased its holdings in shares of Boise Cascade (NYSE:BCC) by 18.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,532 shares of the construction company’s stock after purchasing an additional 1,967 shares during the quarter. Van ECK Associates Corp’s holdings in Boise Cascade were worth $1,621,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC lifted its stake in Boise Cascade by 1,147.1% during the fourth quarter. Global Retirement Partners LLC now owns 212 shares of the construction company’s stock worth $28,000 after purchasing an additional 195 shares during the last quarter. Blue Trust Inc. lifted its stake in Boise Cascade by 58.1% in the fourth quarter. Blue Trust Inc. now owns 544 shares of the construction company’s stock valued at $70,000 after buying an additional 200 shares during the last quarter. GAMMA Investing LLC purchased a new stake in Boise Cascade in the fourth quarter valued at approximately $80,000. C M Bidwell & Associates Ltd. lifted its stake in 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 valued at $144,000 after buying an additional 1,365 shares during the last quarter. Finally, Sound View Wealth Advisors Group LLC purchased a new stake in Boise Cascade in the third quarter valued at approximately $205,000. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Dean Michael Brown sold 11,117 shares of the firm’s 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 completion of 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 at this link. 1.05% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Boise Cascade Price Performance

Shares of NYSE BCC opened at $136.39 on Friday. 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 stock has a fifty day moving average price of $140.32 and a 200 day moving average price of $128.13. Boise Cascade has a 1-year low of $71.50 and a 1-year high of $154.67. The company has a market cap of $5.40 billion, a PE ratio of 11.09 and a beta of 1.64.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data on Monday, May 6th. The construction company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.31. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Boise Cascade had a return on equity of 21.94% and a net margin of 7.07%. Boise Cascade’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.43 earnings per share. Sell-side analysts forecast that Boise Cascade will post 11.44 EPS for the current year.

Boise Cascade Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.59%. The ex-dividend date is Monday, June 3rd. Boise Cascade’s payout ratio is 6.50%.

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.