Prudential Financial Inc. Sells 1,668 Shares of Boise Cascade (NYSE:BCC)

Prudential Financial Inc. cut its position in shares of Boise Cascade (NYSE:BCC) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,607 shares of the construction company’s stock after selling 1,668 shares during the quarter. Prudential Financial Inc. owned approximately 0.16% of Boise Cascade worth $7,204,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. R Squared Ltd bought a new position in Boise Cascade during the fourth quarter valued at approximately $29,000. Principal Securities Inc. boosted its stake in shares of Boise Cascade by 44.2% in the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock valued at $56,000 after purchasing an additional 145 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Boise Cascade by 254.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company’s stock valued at $92,000 after purchasing an additional 558 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in Boise Cascade by 234.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,270 shares of the construction company’s stock worth $179,000 after purchasing an additional 890 shares during the period. Finally, KBC Group NV lifted its stake in Boise Cascade by 41.3% in the fourth quarter. KBC Group NV now owns 1,732 shares of the construction company’s stock worth $206,000 after purchasing an additional 506 shares during the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Price Performance

Shares of NYSE BCC opened at $98.28 on Monday. Boise Cascade has a 1 year low of $95.33 and a 1 year high of $155.42. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92. The company’s 50-day moving average is $112.29 and its 200 day moving average is $127.39. The stock has a market capitalization of $3.73 billion, a P/E ratio of 10.28 and a beta of 1.67.

Boise Cascade (NYSE:BCC) last posted 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 analysts’ expectations of $1.57 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. On average, sell-side analysts expect that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Monday, February 24th. Boise Cascade’s dividend payout ratio is currently 8.79%.

Wall Street Analyst Weigh In

Several research firms have recently commented on BCC. BMO Capital Markets decreased their price objective on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a report on Tuesday, February 25th. Truist Financial lowered their price objective on Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Loop Capital cut their target price on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, February 24th. DA Davidson lowered their price target on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a report on Monday, February 24th. Finally, Benchmark reissued a “hold” rating on shares of Boise Cascade in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Boise Cascade has an average rating of “Hold” and an average price target of $128.50.

Insider Transactions at Boise Cascade

In related news, Director Kristopher J. Matula sold 553 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total transaction of $57,047.48. Following the completion of the sale, the director now owns 13,099 shares in the company, valued at approximately $1,351,292.84. This represents a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $450,945.00. Following the completion of the transaction, the chief operating officer now directly owns 38,026 shares in the company, valued at $3,810,585.46. The trade was a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.98% of the company’s stock.

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.