Brandywine Global Investment Management LLC Grows Stock Position in Boise Cascade (NYSE:BCC)

Brandywine Global Investment Management LLC increased its holdings in Boise Cascade (NYSE:BCC) by 1.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 155,349 shares of the construction company’s stock after acquiring an additional 1,904 shares during the period. Brandywine Global Investment Management LLC’s holdings in Boise Cascade were worth $18,465,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership grew its holdings in shares of Boise Cascade by 118.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 41,895 shares of the construction company’s stock worth $4,980,000 after purchasing an additional 22,689 shares during the period. Orion Portfolio Solutions LLC boosted its stake in Boise Cascade by 27.6% during the fourth quarter. Orion Portfolio Solutions LLC now owns 2,582 shares of the construction company’s stock worth $307,000 after buying an additional 559 shares during the period. Pictet Asset Management Holding SA increased its position in shares of Boise Cascade by 43.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 84,423 shares of the construction company’s stock valued at $10,035,000 after acquiring an additional 25,673 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Boise Cascade in the 4th quarter valued at approximately $500,000. Finally, Norges Bank acquired a new position in shares of Boise Cascade in the 4th quarter worth approximately $55,680,000. Institutional investors and hedge funds own 96.18% of the company’s stock.

Insider Activity at Boise Cascade

In other news, Director Kristopher J. Matula sold 553 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jeffrey Robert Strom sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was 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 in the company, 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. 0.98% of the stock is currently owned by corporate insiders.

Boise Cascade Price Performance

BCC stock opened at $98.28 on Monday. The business’s 50-day moving average is $112.29 and its two-hundred day moving average is $127.39. 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 firm has a market capitalization of $3.73 billion, a P/E ratio of 10.28 and a beta of 1.67. Boise Cascade has a 1 year low of $95.33 and a 1 year high of $155.42.

Boise Cascade (NYSE:BCC) last issued its earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.01). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.57 billion. Analysts anticipate that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, February 24th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.85%. Boise Cascade’s payout ratio is currently 8.79%.

Wall Street Analyst Weigh In

BCC has been the subject of several research reports. Benchmark reiterated a “hold” rating on shares of Boise Cascade in a report on Tuesday, February 25th. BMO Capital Markets cut their price objective on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a report on Tuesday, February 25th. Loop Capital lowered their target price on Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a report on Monday, February 24th. The Goldman Sachs Group cut their price target on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Finally, DA Davidson lowered their price objective on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Boise Cascade presently has an average rating of “Hold” and a consensus price target of $128.50.

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.