Summit Global Investments Has $1.08 Million Holdings in Boise Cascade (NYSE:BCC)

Summit Global Investments lessened its position in shares of Boise Cascade (NYSE:BCC) by 13.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,088 shares of the construction company’s stock after selling 1,430 shares during the quarter. Summit Global Investments’ holdings in Boise Cascade were worth $1,080,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of BCC. Segall Bryant & Hamill LLC boosted its stake in Boise Cascade by 2.0% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 14,254 shares of the construction company’s stock valued at $2,010,000 after buying an additional 285 shares in the last quarter. Jennison Associates LLC acquired a new stake in Boise Cascade in the 3rd quarter valued at $862,000. Intech Investment Management LLC boosted its stake in Boise Cascade by 98.3% in the 3rd quarter. Intech Investment Management LLC now owns 13,784 shares of the construction company’s stock valued at $1,943,000 after buying an additional 6,832 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in 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 valued at $61,680,000 after buying an additional 9,128 shares in the last quarter. Finally, Citigroup Inc. boosted its stake in Boise Cascade by 49.0% in the 3rd quarter. Citigroup Inc. now owns 57,546 shares of the construction company’s stock valued at $8,113,000 after buying an additional 18,933 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Insider Activity at Boise Cascade

In related news, COO Jeffrey Robert Strom sold 4,500 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total value of $450,945.00. Following the completion of the sale, the chief operating officer now owns 38,026 shares in the company, valued at approximately $3,810,585.46. This represents a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kristopher J. Matula sold 553 shares of the 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 completion of the sale, the director now owns 13,099 shares of the company’s stock, valued at $1,351,292.84. This trade represents a 4.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BCC. Benchmark reaffirmed a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. DA Davidson reduced their price objective on Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. BMO Capital Markets reduced their price objective on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 25th. Loop Capital reduced their price objective on Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Finally, Truist Financial reduced 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $128.50.

Boise Cascade Trading Down 1.0 %

BCC stock opened at $99.46 on Friday. The company has a market cap of $3.77 billion, a P/E ratio of 10.40 and a beta of 1.67. Boise Cascade has a twelve month low of $95.33 and a twelve month high of $155.42. 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 business has a fifty day moving average of $114.75 and a 200-day moving average of $128.15.

Boise Cascade (NYSE:BCC) last released its earnings results 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 firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. As a group, equities research analysts expect that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, February 24th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.84%. Boise Cascade’s dividend payout ratio is presently 8.79%.

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.