Bridge City Capital LLC Decreases Stock Holdings in Boise Cascade (NYSE:BCC)

Bridge City Capital LLC reduced its stake in shares of Boise Cascade (NYSE:BCC) by 0.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,359 shares of the construction company’s stock after selling 169 shares during the quarter. Bridge City Capital LLC owned about 0.06% of Boise Cascade worth $2,095,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BCC. D.A. Davidson & CO. grew its holdings in shares of 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 during the last quarter. Bank of New York Mellon Corp lifted its stake in 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 acquiring an additional 12,963 shares during the period. Handelsbanken Fonder AB lifted its position in shares of Boise Cascade by 19.4% in the 4th quarter. Handelsbanken Fonder AB now owns 8,000 shares of the construction company’s stock worth $951,000 after purchasing an additional 1,300 shares during the period. Principal Financial Group Inc. increased its holdings in Boise Cascade by 2.6% during the fourth quarter. Principal Financial Group Inc. now owns 208,323 shares of the construction company’s stock valued at $24,761,000 after buying an additional 5,281 shares during the period. Finally, HighTower Advisors LLC lifted its stake in shares of Boise Cascade by 139.1% during the 4th quarter. HighTower Advisors LLC now owns 4,507 shares of the construction company’s stock worth $536,000 after purchasing an additional 2,622 shares during the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Insider Transactions at Boise Cascade

In other news, EVP Joanna L. Barney sold 1,000 shares of the company’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $87.68, for a total transaction of $87,680.00. Following the completion of the transaction, the executive vice president now directly owns 12,372 shares of the company’s stock, valued at approximately $1,084,776.96. This represents a 7.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jill Twedt sold 1,200 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $88.01, for a total transaction of $105,612.00. Following the completion of the transaction, the senior vice president now directly owns 34,649 shares in the company, valued at $3,049,458.49. This trade represents a 3.35% 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 Price Performance

NYSE:BCC opened at $86.71 on Monday. The stock has a 50 day moving average of $91.60 and a two-hundred day moving average of $110.33. Boise Cascade has a 12 month low of $83.86 and a 12 month high of $155.42. The firm has a market cap of $3.26 billion, a P/E ratio of 9.07 and a beta of 1.36. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings results on Monday, May 5th. The construction company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.30). The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. The business’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.61 earnings per share. On average, analysts expect that Boise Cascade will post 10.15 earnings per share for the current fiscal 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 issued a $0.21 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.84 annualized dividend and a yield of 0.97%. Boise Cascade’s payout ratio is 10.49%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BCC. BMO Capital Markets decreased their price objective on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a report on Tuesday, February 25th. Benchmark reaffirmed a “hold” rating on shares of Boise Cascade in a report on Tuesday, February 25th. Truist Financial cut their price target on Boise Cascade from $134.00 to $118.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. DA Davidson dropped their target price on Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Finally, 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 research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.