Gallacher Capital Management LLC Sells 2,064 Shares of Boise Cascade (NYSE:BCC)

Gallacher Capital Management LLC trimmed its holdings in Boise Cascade (NYSE:BCC) by 28.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,226 shares of the construction company’s stock after selling 2,064 shares during the quarter. Gallacher Capital Management LLC’s holdings in Boise Cascade were worth $676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP grew its position in Boise Cascade by 45.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,349,170 shares of the construction company’s stock valued at $139,018,000 after purchasing an additional 418,891 shares during the last quarter. Pacer Advisors Inc. grew its position in Boise Cascade by 59.7% during the 4th quarter. Pacer Advisors Inc. now owns 1,096,986 shares of the construction company’s stock valued at $141,906,000 after purchasing an additional 409,906 shares during the last quarter. Acadian Asset Management LLC grew its position in Boise Cascade by 13.8% during the 3rd quarter. Acadian Asset Management LLC now owns 1,473,620 shares of the construction company’s stock valued at $151,820,000 after purchasing an additional 178,439 shares during the last quarter. LSV Asset Management boosted its holdings in shares of Boise Cascade by 55.0% during the 4th quarter. LSV Asset Management now owns 446,057 shares of the construction company’s stock valued at $57,702,000 after acquiring an additional 158,363 shares during the last quarter. Finally, Wedge Capital Management L L P NC boosted its holdings in shares of Boise Cascade by 1,572.6% during the 4th quarter. Wedge Capital Management L L P NC now owns 110,445 shares of the construction company’s stock valued at $14,287,000 after acquiring an additional 103,842 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group raised their price target on shares of Boise Cascade from $114.00 to $129.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Truist Financial raised their price target on shares of Boise Cascade from $156.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Finally, StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Boise Cascade has an average rating of “Hold” and a consensus price target of $125.00.

Boise Cascade Stock Performance

Shares of NYSE:BCC traded up $1.57 during trading on Friday, hitting $136.05. The company’s stock had a trading volume of 328,037 shares, compared to its average volume of 308,373. The company has a 50-day moving average of $140.20 and a 200-day moving average of $127.43. Boise Cascade has a 12 month low of $66.82 and a 12 month high of $154.67. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.46 and a quick ratio of 2.26. The firm has a market cap of $5.38 billion, a price-to-earnings ratio of 11.23 and a beta of 1.64.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Wednesday, February 21st. The construction company reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($0.01). Boise Cascade had a return on equity of 21.94% and a net margin of 7.07%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the company earned $2.95 EPS. Boise Cascade’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, sell-side analysts expect that Boise Cascade will post 11.44 earnings per share for the current year.

Boise Cascade Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid 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 of this dividend is Monday, June 3rd. Boise Cascade’s payout ratio is 6.60%.

Insiders Place Their Bets

In other Boise Cascade news, EVP Dean Michael Brown sold 11,117 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were 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 document filed with the SEC, which is available through this hyperlink. 0.98% of the stock is owned by company insiders.

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.