Boise Cascade (NYSE:BCC) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. trimmed its holdings in shares of Boise Cascade (NYSE:BCC) by 1.9% in the fourth quarter, Holdings Channel reports. The firm owned 4,352,313 shares of the construction company’s stock after selling 83,315 shares during the period. Vanguard Group Inc. owned about 0.11% of Boise Cascade worth $517,316,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tidal Investments LLC boosted its stake in Boise Cascade by 341.9% during the third quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock worth $2,229,000 after buying an additional 12,231 shares during the period. Fulcrum Capital LLC acquired a new position in shares of Boise Cascade in the 4th quarter worth approximately $1,092,000. D.A. Davidson & CO. boosted its position in shares of Boise Cascade by 4.2% during the 4th quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company’s stock worth $388,000 after purchasing an additional 133 shares during the period. Nordea Investment Management AB increased its holdings in Boise Cascade by 5.0% in the 4th quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company’s stock valued at $14,454,000 after purchasing an additional 5,779 shares during the last quarter. Finally, Barclays PLC raised its position in Boise Cascade by 174.1% in the third quarter. Barclays PLC now owns 90,366 shares of the construction company’s stock valued at $12,739,000 after purchasing an additional 57,403 shares during the period. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO Jeffrey Robert Strom sold 4,500 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were 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 owns 38,026 shares in the company, valued at approximately $3,810,585.46. This represents a 10.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kristopher J. Matula sold 553 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total transaction of $57,047.48. Following the completion of the transaction, the director now directly owns 13,099 shares in the company, 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 owned by company insiders.

Boise Cascade Price Performance

BCC stock opened at $98.11 on Tuesday. The business’s 50-day moving average is $111.68 and its two-hundred day moving average is $127.19. The firm has a market capitalization of $3.72 billion, a P/E ratio of 10.26 and a beta of 1.67. Boise Cascade has a 1 year low of $95.30 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.

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

Boise Cascade Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date was Monday, February 24th. Boise Cascade’s dividend payout ratio is presently 8.79%.

Wall Street Analyst Weigh In

Several research firms have recently commented on BCC. DA Davidson lowered their price target on Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Benchmark restated a “hold” rating on shares of Boise Cascade in a report on Tuesday, February 25th. BMO Capital Markets cut their price target on shares of 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. Truist Financial lowered their price objective on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Finally, The Goldman Sachs Group dropped their price objective on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Boise Cascade presently has a consensus rating of “Hold” and a consensus target price 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.