EFG Asset Management North America Corp. Purchases 6,770 Shares of Boise Cascade (NYSE:BCC)

EFG Asset Management North America Corp. increased its holdings in Boise Cascade (NYSE:BCC) by 59.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,220 shares of the construction company’s stock after purchasing an additional 6,770 shares during the period. EFG Asset Management North America Corp.’s holdings in Boise Cascade were worth $2,166,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Tidal Investments LLC grew its stake in shares of Boise Cascade by 341.9% in the 3rd quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock worth $2,229,000 after buying an additional 12,231 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Boise Cascade by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock valued at $61,680,000 after acquiring an additional 9,128 shares during the last quarter. Fulcrum Capital LLC purchased a new position in Boise Cascade in the fourth quarter worth about $1,092,000. D.A. Davidson & CO. increased its stake in Boise Cascade by 4.2% during the fourth quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company’s stock worth $388,000 after acquiring an additional 133 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in 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 purchasing an additional 5,779 shares during the period. Institutional investors own 96.18% of the company’s stock.

Boise Cascade Stock Down 1.8 %

Shares of BCC opened at $101.39 on Wednesday. The firm has a fifty day moving average price of $113.97 and a 200-day moving average price of $127.86. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $3.85 billion, a P/E ratio of 10.61 and a beta of 1.67. Boise Cascade has a 12-month low of $95.33 and a 12-month high of $155.42.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.01). The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. Equities research analysts expect that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, February 24th were issued a $0.21 dividend. The ex-dividend date was Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.83%. Boise Cascade’s payout ratio is 8.79%.

Wall Street Analysts Forecast Growth

BCC has been the subject of a number of recent research reports. The Goldman Sachs Group dropped their target price on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Loop Capital dropped their price objective on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Truist Financial reduced their target price on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. DA Davidson dropped their price target 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. Finally, Benchmark reissued a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $128.50.

Insider Buying and Selling

In other news, Director Kristopher J. Matula sold 553 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total value of $57,047.48. Following the completion of the sale, the director now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey Robert Strom sold 4,500 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total transaction of $450,945.00. Following the transaction, the chief operating officer now owns 38,026 shares in the company, valued at approximately $3,810,585.46. This represents a 10.58 % decrease in their ownership of the stock. 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.