Owen LaRue LLC Invests $1.87 Million in Boise Cascade (NYSE:BCC)

Owen LaRue LLC bought a new position in Boise Cascade (NYSE:BCC) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,415 shares of the construction company’s stock, valued at approximately $1,865,000. Boise Cascade accounts for about 1.8% of Owen LaRue LLC’s holdings, making the stock its 17th largest holding.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Hexagon Capital Partners LLC raised its holdings in shares of Boise Cascade by 71.6% during the fourth quarter. Hexagon Capital Partners LLC now owns 743 shares of the construction company’s stock worth $96,000 after acquiring an additional 310 shares in the last quarter. Jackson Creek Investment Advisors LLC purchased a new stake in shares of Boise Cascade during the fourth quarter worth $1,200,000. Van ECK Associates Corp raised its holdings in Boise Cascade by 18.6% during the fourth quarter. Van ECK Associates Corp now owns 12,532 shares of the construction company’s stock valued at $1,621,000 after buying an additional 1,967 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in Boise Cascade by 1.2% during the fourth quarter. SummerHaven Investment Management LLC now owns 7,593 shares of the construction company’s stock valued at $982,000 after buying an additional 93 shares in the last quarter. Finally, Unique Wealth Strategies LLC bought a new position in Boise Cascade during the fourth quarter valued at about $643,000. Institutional investors and hedge funds own 96.18% of the company’s stock.

Insider Buying and Selling at Boise Cascade

In other Boise Cascade news, EVP Dean Michael Brown sold 11,117 shares of Boise Cascade stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $139.09, for a total transaction of $1,546,263.53. Following the sale, the executive vice president now directly owns 40,237 shares of the company’s stock, valued at $5,596,564.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.05% of the company’s stock.

Boise Cascade Stock Performance

BCC stock traded down $0.33 during trading on Wednesday, reaching $131.94. 66,972 shares of the stock were exchanged, compared to its average volume of 293,536. Boise Cascade has a twelve month low of $66.82 and a twelve month high of $154.67. The company has a market capitalization of $5.22 billion, a P/E ratio of 10.92 and a beta of 1.60. The stock has a 50 day simple moving average of $139.77 and a 200-day simple moving average of $126.59. The company has a current ratio of 3.46, a quick ratio of 2.26 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last released its earnings results on Wednesday, February 21st. The construction company reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($0.01). Boise Cascade had a return on equity of 21.94% and a net margin of 7.07%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same period last year, the business earned $2.95 earnings per share. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Boise Cascade will post 11.44 earnings per share for the current year.

Boise Cascade Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 23rd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Thursday, February 22nd. Boise Cascade’s payout ratio is 6.60%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. The Goldman Sachs Group raised their target price on Boise Cascade from $114.00 to $129.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Finally, Truist Financial lifted their price objective on Boise Cascade from $156.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $125.00.

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.