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

QRG Capital Management Inc. grew its stake in shares of Boise Cascade (NYSE:BCC) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,059 shares of the construction company’s stock after acquiring an additional 564 shares during the quarter. QRG Capital Management Inc. owned about 0.08% of Boise Cascade worth $3,811,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Bank of Montreal Can increased its position in Boise Cascade by 1,597.4% during the third quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock valued at $17,907,000 after acquiring an additional 119,103 shares during the last quarter. FMR LLC increased its position in shares of Boise Cascade by 158.9% during the 3rd quarter. FMR LLC now owns 126,123 shares of the construction company’s stock valued at $17,781,000 after purchasing an additional 77,401 shares during the last quarter. Barclays PLC increased its position in shares of Boise Cascade by 174.1% during the 3rd quarter. Barclays PLC now owns 90,366 shares of the construction company’s stock valued at $12,739,000 after purchasing an additional 57,403 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Boise Cascade in the 3rd quarter worth approximately $7,653,000. Finally, World Investment Advisors LLC purchased a new position in shares of Boise Cascade in the third quarter worth approximately $3,995,000. 96.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BCC has been the topic of several recent research reports. The Goldman Sachs Group decreased 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 report on Tuesday, January 14th. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Benchmark reiterated a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. Truist Financial decreased their price objective on Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Finally, DA Davidson cut their price objective on 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 analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $128.50.

Boise Cascade Price Performance

Shares of Boise Cascade stock opened at $103.72 on Friday. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 10.85 and a beta of 1.57. 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’s 50-day simple moving average is $120.73 and its 200-day simple moving average is $131.48. Boise Cascade has a 52 week low of $102.17 and a 52 week 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 (EPS) 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 business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion. As a group, analysts expect that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend is Monday, February 24th. Boise Cascade’s dividend payout ratio (DPR) is presently 8.79%.

Insider Buying and Selling

In other news, Director Kristopher J. Matula sold 553 shares of Boise Cascade stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total value of $57,047.48. Following the sale, the director now directly owns 13,099 shares of the company’s stock, valued at approximately $1,351,292.84. The trade was a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.98% of the stock is owned by company insiders.

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.