Two Sigma Investments LP Sells 6,952 Shares of Boise Cascade (NYSE:BCC)

Two Sigma Investments LP lessened its holdings in Boise Cascade (NYSE:BCC) by 31.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,807 shares of the construction company’s stock after selling 6,952 shares during the period. Two Sigma Investments LP’s holdings in Boise Cascade were worth $1,760,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Barclays PLC increased its holdings in Boise Cascade by 174.1% during the 3rd quarter. Barclays PLC now owns 90,366 shares of the construction company’s stock worth $12,739,000 after purchasing an additional 57,403 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Boise Cascade by 49.2% in the fourth quarter. Blue Trust Inc. now owns 2,056 shares of the construction company’s stock valued at $244,000 after purchasing an additional 678 shares in the last quarter. KBC Group NV boosted its position in shares of Boise Cascade by 41.3% during the fourth quarter. KBC Group NV now owns 1,732 shares of the construction company’s stock valued at $206,000 after buying an additional 506 shares during the last quarter. R Squared Ltd bought a new stake in Boise Cascade during the fourth quarter worth $29,000. Finally, SkyOak Wealth LLC bought a new stake in Boise Cascade during the fourth quarter worth $243,000. Institutional investors own 96.18% of the company’s stock.

Boise Cascade Stock Performance

NYSE BCC opened at $85.08 on Tuesday. The company has a market capitalization of $3.20 billion, a PE ratio of 8.90 and a beta of 1.43. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34. Boise Cascade has a 52-week low of $83.86 and a 52-week high of $155.42. The company has a 50-day simple moving average of $92.53 and a 200 day simple moving average of $111.78.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Monday, May 5th. The construction company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.30). Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the previous year, the business earned $2.61 EPS. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. On average, research analysts predict that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd will be paid a $0.21 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.84 annualized dividend and a dividend yield of 0.99%. Boise Cascade’s payout ratio is presently 10.49%.

Insider Buying and Selling at Boise Cascade

In related news, COO Jeffrey Robert Strom sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total transaction of $450,945.00. Following the sale, the chief operating officer now directly owns 38,026 shares in the company, valued at approximately $3,810,585.46. This represents a 10.58% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Benchmark reaffirmed a “hold” rating on shares of Boise Cascade in a report on Tuesday, February 25th. DA Davidson cut their price target on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, February 24th. BMO Capital Markets reduced their price objective on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a research report on Tuesday, February 25th. Loop Capital dropped their target price on shares of Boise Cascade from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Truist Financial cut their target price on Boise Cascade from $134.00 to $118.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Boise Cascade currently has an average rating of “Hold” and an average 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.