Empirical Financial Services LLC d.b.a. Empirical Wealth Management Purchases New Stake in Boise Cascade (NYSE:BCC)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Boise Cascade (NYSE:BCC) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 1,973 shares of the construction company’s stock, valued at approximately $255,000.

A number of other hedge funds have also recently added to or reduced their stakes in BCC. QRG Capital Management Inc. bought a new position in Boise Cascade during the 3rd quarter worth $2,682,000. Leuthold Group LLC increased its holdings in shares of Boise Cascade by 10.0% in the 4th quarter. Leuthold Group LLC now owns 25,252 shares of the construction company’s stock worth $3,267,000 after acquiring an additional 2,299 shares during the period. Jackson Creek Investment Advisors LLC bought a new stake in Boise Cascade in the 4th quarter valued at about $1,200,000. DekaBank Deutsche Girozentrale boosted its stake in Boise Cascade by 54.2% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 58,919 shares of the construction company’s stock valued at $7,596,000 after purchasing an additional 20,712 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in shares of Boise Cascade by 81.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 8,135 shares of the construction company’s stock valued at $1,052,000 after purchasing an additional 3,660 shares during the period. Institutional investors and hedge funds own 96.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BCC. Truist Financial increased their price objective on Boise Cascade from $156.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. StockNews.com upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, The Goldman Sachs Group increased their target price on shares of Boise Cascade from $114.00 to $129.00 and gave the company a “neutral” rating in a research report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Boise Cascade currently has an average rating of “Hold” and a consensus price target of $125.00.

Insider Buying and Selling at Boise Cascade

In other Boise Cascade news, EVP Dean Michael Brown sold 11,117 shares of the business’s stock in a transaction dated 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 owns 40,237 shares in the company, valued at approximately $5,596,564.33. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.05% of the stock is owned by corporate insiders.

Boise Cascade Stock Up 2.4 %

Shares of BCC stock opened at $136.39 on Friday. Boise Cascade has a 1 year low of $71.50 and a 1 year high of $154.67. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.26 and a current ratio of 3.46. The business’s fifty day moving average is $140.32 and its 200-day moving average is $128.13. The stock has a market cap of $5.40 billion, a PE ratio of 11.09 and a beta of 1.64.

Boise Cascade (NYSE:BCC) last released its earnings results on Monday, May 6th. The construction company reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.31. Boise Cascade had a return on equity of 21.94% and a net margin of 7.07%. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period in the previous year, the company earned $2.43 earnings per share. Boise Cascade’s revenue was up 6.5% compared to the same quarter last year. Equities analysts expect that Boise Cascade will post 11.44 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Monday, June 3rd. Boise Cascade’s payout ratio is 6.50%.

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.