Caxton Associates LP Takes $522,000 Position in Boise Cascade (NYSE:BCC)

Caxton Associates LP acquired a new position in Boise Cascade (NYSE:BCC) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 4,389 shares of the construction company’s stock, valued at approximately $522,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fulcrum Capital LLC bought a new stake in Boise Cascade in the fourth quarter worth approximately $1,092,000. D.A. Davidson & CO. boosted its holdings in Boise Cascade by 4.2% in the fourth quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company’s stock worth $388,000 after purchasing an additional 133 shares in the last quarter. Nordea Investment Management AB increased its position in Boise Cascade by 5.0% during the fourth quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company’s stock worth $14,454,000 after buying an additional 5,779 shares during the last quarter. Barclays PLC raised its holdings in Boise Cascade by 174.1% during the third quarter. Barclays PLC now owns 90,366 shares of the construction company’s stock valued at $12,739,000 after buying an additional 57,403 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Boise Cascade by 3.0% in the fourth quarter. Bank of New York Mellon Corp now owns 446,350 shares of the construction company’s stock worth $53,053,000 after buying an additional 12,963 shares during the last quarter. Institutional investors own 96.18% of the company’s stock.

Boise Cascade Price Performance

Shares of NYSE:BCC opened at $87.86 on Wednesday. The business’s 50 day moving average is $96.78 and its 200-day moving average is $118.39. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $3.34 billion, a PE ratio of 9.19 and a beta of 1.43. Boise Cascade has a 1-year low of $84.53 and a 1-year high of $155.42.

Boise Cascade (NYSE:BCC) last announced 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 net margin of 5.60% and a return on equity of 17.04%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the firm earned $2.61 EPS. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. Sell-side analysts predict that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, June 2nd will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.96%. The ex-dividend date is Monday, June 2nd. Boise Cascade’s dividend payout ratio (DPR) is presently 10.49%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BCC. Loop Capital lowered their price objective on Boise Cascade from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Monday, April 14th. DA Davidson lowered their price target on Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Truist Financial reduced their price objective on shares of Boise Cascade from $134.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. The Goldman Sachs Group dropped their target price on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Finally, Benchmark reissued a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $125.00.

Insiders Place Their Bets

In other news, Director Kristopher J. Matula sold 553 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total value of $57,047.48. Following the completion of the transaction, the director now directly owns 13,099 shares of the company’s stock, valued at approximately $1,351,292.84. This represents a 4.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jeffrey Robert Strom sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total value of $450,945.00. Following the transaction, the chief operating officer now owns 38,026 shares of the company’s stock, valued at $3,810,585.46. This trade represents a 10.58 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.11% of the company’s stock.

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.