QRG Capital Management Inc. Acquires 564 Shares of Boise Cascade (NYSE:BCC)

QRG Capital Management Inc. lifted its holdings in Boise Cascade (NYSE:BCC) by 1.8% in the fourth quarter, Holdings Channel reports. The fund owned 32,059 shares of the construction company’s stock after purchasing an additional 564 shares during the quarter. QRG Capital Management Inc.’s holdings in Boise Cascade were worth $3,811,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in Boise Cascade by 3.0% during the fourth quarter. Bank of New York Mellon Corp now owns 446,350 shares of the construction company’s stock worth $53,053,000 after buying an additional 12,963 shares during the period. 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 worth $61,680,000 after acquiring an additional 9,128 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Boise Cascade by 2.6% during the 4th quarter. Principal Financial Group Inc. now owns 208,323 shares of the construction company’s stock worth $24,761,000 after purchasing an additional 5,281 shares during the period. Bank of Montreal Can grew its holdings in Boise Cascade by 1,597.4% during the 3rd quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock valued at $17,907,000 after purchasing an additional 119,103 shares during the last quarter. Finally, FMR LLC raised its position in Boise Cascade by 158.9% in the 3rd quarter. FMR LLC now owns 126,123 shares of the construction company’s stock worth $17,781,000 after purchasing an additional 77,401 shares during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BCC. BMO Capital Markets dropped their target price on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a research report on Tuesday, February 25th. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Benchmark reiterated a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. The Goldman Sachs Group lowered their target price on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Finally, DA Davidson reduced their price target on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Boise Cascade has an average rating of “Hold” and an average price target of $128.50.

Insider Activity at Boise Cascade

In related news, Director Kristopher J. Matula sold 553 shares of the company’s 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 completion of the sale, the director now directly owns 13,099 shares in the company, valued at $1,351,292.84. This represents a 4.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.98% of the stock is currently owned by corporate insiders.

Boise Cascade Price Performance

Shares of BCC stock opened at $103.72 on Friday. Boise Cascade has a twelve month low of $102.17 and a twelve month high of $155.42. 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 stock has a fifty day simple moving average of $120.73 and a two-hundred day simple moving average of $131.48. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of 10.85 and a beta of 1.57.

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

Boise Cascade Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.81%. Boise Cascade’s dividend payout ratio is presently 8.79%.

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.