O Shaughnessy Asset Management LLC Sells 6,899 Shares of Boise Cascade (NYSE:BCC)

O Shaughnessy Asset Management LLC lessened its stake in Boise Cascade (NYSE:BCC) by 31.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,170 shares of the construction company’s stock after selling 6,899 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Boise Cascade were worth $1,803,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Tidal Investments LLC grew its holdings in shares of Boise Cascade by 341.9% in the third quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock worth $2,229,000 after purchasing an additional 12,231 shares during the last quarter. Fulcrum Capital LLC bought a new stake in Boise Cascade in the 4th quarter worth $1,092,000. D.A. Davidson & CO. increased its position 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 valued at $388,000 after acquiring an additional 133 shares during the period. Nordea Investment Management AB raised its stake in shares of Boise Cascade by 5.0% during the fourth quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company’s stock valued at $14,454,000 after acquiring an additional 5,779 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of Boise Cascade by 174.1% during the third quarter. Barclays PLC now owns 90,366 shares of the construction company’s stock worth $12,739,000 after purchasing an additional 57,403 shares during the period. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, 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 directly owns 13,099 shares of the company’s stock, valued at $1,351,292.84. This trade represents a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jeffrey Robert Strom sold 4,500 shares of the business’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 completion of the transaction, the chief operating officer now directly owns 38,026 shares of the company’s stock, valued at approximately $3,810,585.46. This trade represents a 10.58 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BCC. DA Davidson cut their price objective 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 decreased their price target on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a research note on Tuesday, February 25th. Loop Capital cut their price objective on Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Truist Financial lowered their target price on Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Finally, Benchmark reaffirmed a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $128.50.

Boise Cascade Stock Performance

Shares of BCC opened at $95.38 on Friday. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22. The stock has a market cap of $3.62 billion, a P/E ratio of 9.98 and a beta of 1.67. The business’s 50 day moving average price is $109.24 and its 200-day moving average price is $126.25. Boise Cascade has a 52 week low of $89.59 and a 52 week high of $155.42.

Boise Cascade (NYSE:BCC) last released its earnings results on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Equities research 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 disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.88%. Boise Cascade’s dividend payout ratio is currently 8.79%.

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.