QRG Capital Management Inc. Boosts Stock Position in Boise Cascade (NYSE:BCC)

QRG Capital Management Inc. lifted its stake in shares of Boise Cascade (NYSE:BCC) by 3.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,270 shares of the construction company’s stock after acquiring an additional 1,066 shares during the quarter. QRG Capital Management Inc.’s holdings in Boise Cascade were worth $4,489,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. USA Financial Formulas boosted its stake in shares of Boise Cascade by 5,050.0% in the fourth quarter. USA Financial Formulas now owns 206 shares of the construction company’s stock worth $27,000 after acquiring an additional 202 shares during the period. Principal Securities Inc. bought a new position in Boise Cascade in the 4th quarter worth approximately $27,000. Global Retirement Partners LLC grew its holdings in Boise Cascade by 1,147.1% during the 4th quarter. Global Retirement Partners LLC now owns 212 shares of the construction company’s stock valued at $28,000 after buying an additional 195 shares in the last quarter. Scarborough Advisors LLC bought a new stake in shares of Boise Cascade during the fourth quarter valued at approximately $36,000. Finally, Blue Trust Inc. lifted its holdings in shares of Boise Cascade by 58.1% in the fourth quarter. Blue Trust Inc. now owns 544 shares of the construction company’s stock worth $70,000 after buying an additional 200 shares in the last quarter. Institutional investors own 96.18% of the company’s stock.

Boise Cascade Price Performance

Shares of NYSE:BCC traded down $2.10 on Wednesday, reaching $134.70. The company’s stock had a trading volume of 62,257 shares, compared to its average volume of 311,096. The company has a 50-day simple moving average of $128.58 and a 200 day simple moving average of $134.22. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.05 and a current ratio of 3.24. The company has a market cap of $5.32 billion, a P/E ratio of 11.12 and a beta of 1.50. Boise Cascade has a 52-week low of $87.32 and a 52-week high of $154.67.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Monday, May 6th. The construction company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.30 by $0.31. Boise Cascade had a return on equity of 22.00% and a net margin of 7.08%. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the business posted $2.43 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. As a group, equities research analysts anticipate that Boise Cascade will post 10.69 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a dividend of $0.20 per share. The ex-dividend date was Monday, June 3rd. This represents a $0.80 annualized dividend and a dividend yield of 0.59%. Boise Cascade’s dividend payout ratio (DPR) is presently 6.50%.

Insider Activity

In related news, EVP Jeffrey Robert Strom sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $135.00, for a total transaction of $337,500.00. Following the completion of the sale, the executive vice president now directly owns 43,353 shares of the company’s stock, valued at approximately $5,852,655. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Jill Twedt sold 1,852 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $135.00, for a total transaction of $250,020.00. Following the completion of the sale, the senior vice president now directly owns 37,437 shares in the company, valued at approximately $5,053,995. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey Robert Strom sold 2,500 shares of Boise Cascade stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $135.00, for a total value of $337,500.00. Following the completion of the transaction, the executive vice president now owns 43,353 shares in the company, valued at approximately $5,852,655. The disclosure for this sale can be found here. Insiders own 0.98% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. The Goldman Sachs Group reduced their price target on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. StockNews.com raised Boise Cascade from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. Finally, Truist Financial decreased their target price on Boise Cascade from $175.00 to $159.00 and set a “buy” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $126.00.

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.