Insider Selling: Boise Cascade (NYSE:BCC) COO Sells $450,945.00 in Stock

Boise Cascade (NYSE:BCC) COO Jeffrey Robert Strom sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total transaction of $450,945.00. Following the sale, the chief operating officer now owns 38,026 shares of the company’s stock, valued at $3,810,585.46. This trade represents a 10.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Boise Cascade Price Performance

Shares of NYSE:BCC opened at $101.71 on Friday. The company has a 50 day moving average of $118.56 and a 200 day moving average of $130.57. The stock has a market cap of $3.86 billion, a P/E ratio of 10.64 and a beta of 1.67. Boise Cascade has a 12 month low of $97.21 and a 12 month high of $155.42. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.01). The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. As a group, sell-side analysts forecast that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $0.84 annualized dividend and a yield of 0.83%. Boise Cascade’s payout ratio is presently 8.79%.

Institutional Investors Weigh In On Boise Cascade

Several hedge funds have recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Boise Cascade during the fourth quarter valued at approximately $9,894,000. Mackenzie Financial Corp lifted its position in Boise Cascade by 263.7% during the fourth quarter. Mackenzie Financial Corp now owns 19,142 shares of the construction company’s stock valued at $2,275,000 after purchasing an additional 13,879 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in Boise Cascade by 3.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 50,833 shares of the construction company’s stock valued at $6,042,000 after purchasing an additional 1,471 shares during the last quarter. Vise Technologies Inc. lifted its position in Boise Cascade by 3.4% during the fourth quarter. Vise Technologies Inc. now owns 3,021 shares of the construction company’s stock valued at $359,000 after purchasing an additional 100 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its position in Boise Cascade by 80.9% during the fourth quarter. Voloridge Investment Management LLC now owns 15,702 shares of the construction company’s stock valued at $1,866,000 after purchasing an additional 7,021 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BCC. Truist Financial decreased their price objective on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a report on Monday, February 24th. BMO Capital Markets decreased their price objective on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a report on Tuesday, February 25th. The Goldman Sachs Group reduced their target price 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. DA Davidson reduced their target price on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Finally, Benchmark reiterated a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $128.50.

Boise Cascade Company 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.