Wedge Capital Management L L P NC Sells 10,294 Shares of Boise Cascade (NYSE:BCC)

Wedge Capital Management L L P NC trimmed its position in Boise Cascade (NYSE:BCC) by 9.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,671 shares of the construction company’s stock after selling 10,294 shares during the period. Wedge Capital Management L L P NC owned 0.26% of Boise Cascade worth $11,728,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of BCC. Harbor Capital Advisors Inc. purchased a new position in Boise Cascade in the third quarter worth $28,000. Larson Financial Group LLC grew its position in Boise Cascade by 23.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock worth $53,000 after acquiring an additional 73 shares in the last quarter. CWM LLC grew its position in Boise Cascade by 26.5% in the third quarter. CWM LLC now owns 673 shares of the construction company’s stock worth $95,000 after acquiring an additional 141 shares in the last quarter. Covestor Ltd grew its position in Boise Cascade by 50.1% in the third quarter. Covestor Ltd now owns 689 shares of the construction company’s stock worth $97,000 after acquiring an additional 230 shares in the last quarter. Finally, KBC Group NV grew its position in Boise Cascade by 19.0% in the third quarter. KBC Group NV now owns 1,226 shares of the construction company’s stock worth $173,000 after acquiring an additional 196 shares in the last quarter. 96.18% of the stock is owned by institutional investors.

Boise Cascade Stock Performance

Shares of NYSE:BCC opened at $128.25 on Friday. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 12.55 and a beta of 1.58. The company has a 50-day moving average price of $133.00 and a 200-day moving average price of $133.16. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. Boise Cascade has a 12 month low of $113.38 and a 12 month high of $155.42.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Monday, November 4th. The construction company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.04). The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.72 billion. Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The business’s revenue was down 6.6% on a year-over-year basis. During the same period last year, the company posted $3.58 earnings per share. As a group, equities analysts anticipate that Boise Cascade will post 9.6 EPS for the current year.

Boise Cascade Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Monday, December 2nd. Boise Cascade’s dividend payout ratio is currently 8.22%.

Wall Street Analyst Weigh In

BCC has been the subject of several research reports. Loop Capital initiated coverage on shares of Boise Cascade in a research report on Friday, November 1st. They issued a “buy” rating and a $155.00 target price for the company. Truist Financial lowered their price target on shares of Boise Cascade from $161.00 to $157.00 and set a “buy” rating for the company in a research note on Monday, January 6th. The Goldman Sachs Group lowered their price target 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. BMO Capital Markets boosted their price target on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Boise Cascade currently has a consensus rating of “Hold” and an average price target of $139.60.

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.