Point72 Asia Singapore Pte. Ltd. Has $315,000 Stake in Boise Cascade (NYSE:BCC)

Point72 Asia Singapore Pte. Ltd. cut its position in Boise Cascade (NYSE:BCC) by 27.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,653 shares of the construction company’s stock after selling 1,024 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Boise Cascade were worth $315,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. D.A. Davidson & CO. increased its stake 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 valued at $388,000 after acquiring an additional 133 shares during the last quarter. Barclays PLC increased its stake in shares of Boise Cascade by 174.1% in the 3rd quarter. Barclays PLC now owns 90,366 shares of the construction company’s stock valued at $12,739,000 after purchasing an additional 57,403 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Boise Cascade by 3.0% during the 4th 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 in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Boise Cascade by 19.4% during the 4th quarter. Handelsbanken Fonder AB now owns 8,000 shares of the construction company’s stock worth $951,000 after buying an additional 1,300 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Boise Cascade by 2.6% during the 4th quarter. Principal Financial Group Inc. now owns 208,323 shares of the construction company’s stock worth $24,761,000 after buying an additional 5,281 shares during the last quarter. Institutional investors own 96.18% of the company’s stock.

Insider Activity

In other news, COO Jeffrey Robert Strom sold 4,500 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total value of $450,945.00. Following the sale, the chief operating officer now directly owns 38,026 shares of the company’s stock, valued at approximately $3,810,585.46. This represents a 10.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kristopher J. Matula sold 553 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total transaction of $57,047.48. Following the sale, the director now owns 13,099 shares of the company’s stock, valued at approximately $1,351,292.84. This trade represents a 4.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.98% of the company’s stock.

Boise Cascade Stock Up 0.4%

NYSE:BCC opened at $91.09 on Friday. Boise Cascade has a one year low of $84.53 and a one year high of $155.42. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92. The company has a market cap of $3.43 billion, a PE ratio of 9.53 and a beta of 1.43. The firm’s 50 day simple moving average is $95.33 and its 200 day simple moving average is $116.32.

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

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd will be given a $0.21 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.92%. Boise Cascade’s dividend payout ratio (DPR) is presently 10.49%.

Analyst Ratings Changes

A number of research analysts have issued reports on BCC shares. DA Davidson decreased their target price on Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. BMO Capital Markets lowered 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 cut 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. Benchmark reaffirmed a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Finally, Truist Financial dropped their price target on Boise Cascade from $134.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $125.00.

Boise Cascade 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.