Daiwa Securities Group Inc. Increases Holdings in Boise Cascade (NYSE:BCC)

Daiwa Securities Group Inc. lifted its position in Boise Cascade (NYSE:BCC) by 500.0% in the first quarter, Holdings Channel reports. The firm owned 600 shares of the construction company’s stock after buying an additional 500 shares during the period. Daiwa Securities Group Inc.’s holdings in Boise Cascade were worth $92,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of BCC. USA Financial Formulas lifted its holdings in Boise Cascade by 5,050.0% during the fourth quarter. USA Financial Formulas now owns 206 shares of the construction company’s stock worth $27,000 after buying an additional 202 shares during the period. Principal Securities Inc. purchased a new stake in Boise Cascade during the fourth quarter worth $27,000. Global Retirement Partners LLC lifted its holdings in Boise Cascade by 1,147.1% during the fourth quarter. Global Retirement Partners LLC now owns 212 shares of the construction company’s stock worth $28,000 after buying an additional 195 shares during the period. Scarborough Advisors LLC purchased a new stake in Boise Cascade during the fourth quarter worth $36,000. Finally, Blue Trust Inc. lifted its holdings in Boise Cascade by 58.1% during 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 during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Analyst Upgrades and Downgrades

BCC has been the subject of a number of analyst reports. The Goldman Sachs Group lowered their target price on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday. StockNews.com upgraded Boise Cascade from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. Finally, Truist Financial upped their price target on Boise Cascade from $156.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Boise Cascade presently has a consensus rating of “Hold” and an average price target of $130.00.

Boise Cascade Stock Performance

Shares of BCC stock opened at $125.00 on Friday. The business’s fifty day simple moving average is $128.72 and its 200-day simple moving average is $134.13. The company has a market cap of $4.93 billion, a PE ratio of 10.16 and a beta of 1.50. The company has a current ratio of 3.24, a quick ratio of 2.05 and a debt-to-equity ratio of 0.21. Boise Cascade has a 12-month low of $87.32 and a 12-month high of $154.67.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Monday, May 6th. The construction company reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.31. Boise Cascade had a return on equity of 22.00% and a net margin of 7.08%. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the firm posted $2.43 earnings per share. The business’s quarterly revenue was up 6.5% on a year-over-year basis. Analysts expect that Boise Cascade will post 10.84 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Monday, June 3rd. Boise Cascade’s payout ratio is 6.50%.

Insider Activity at Boise Cascade

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

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.