Charles Schwab Investment Management Inc. Buys 6,182 Shares of Boise Cascade (NYSE:BCC)

Charles Schwab Investment Management Inc. increased its stake in shares of Boise Cascade (NYSE:BCC) by 1.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 443,691 shares of the construction company’s stock after purchasing an additional 6,182 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Boise Cascade were worth $52,737,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of BCC. Bank of Montreal Can increased its position in shares of Boise Cascade by 1,597.4% during the 3rd quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock valued at $17,907,000 after purchasing an additional 119,103 shares during the last quarter. FMR LLC increased its position in shares of Boise Cascade by 158.9% during the 3rd quarter. FMR LLC now owns 126,123 shares of the construction company’s stock valued at $17,781,000 after purchasing an additional 77,401 shares during the last quarter. Barclays PLC grew its position in Boise Cascade by 174.1% in the 3rd quarter. Barclays PLC now owns 90,366 shares of the construction company’s stock valued at $12,739,000 after acquiring an additional 57,403 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Boise Cascade in the third quarter worth $7,653,000. Finally, World Investment Advisors LLC purchased a new stake in Boise Cascade in the third quarter worth $3,995,000. Institutional investors own 96.18% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kristopher J. Matula sold 553 shares of the firm’s 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 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 sale was disclosed in a document filed with the SEC, which is available 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 owns 38,026 shares of the company’s stock, valued at approximately $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. Corporate insiders own 1.05% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on BCC. The Goldman Sachs Group reduced their target price on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. BMO Capital Markets dropped their price target on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 25th. Loop Capital dropped their price target on Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Truist Financial dropped their price target on Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Finally, Benchmark reissued a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. One 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 presently has an average rating of “Hold” and an average target price of $128.50.

Boise Cascade Price Performance

Shares of BCC stock opened at $96.19 on Friday. Boise Cascade has a 1-year low of $95.33 and a 1-year high of $155.42. The stock’s 50-day moving average is $117.35 and its 200 day moving average is $129.84. The company has a market cap of $3.65 billion, a P/E ratio of 10.06 and a beta of 1.67. 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 issued its quarterly earnings data 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). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion. Research analysts predict that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Monday, February 24th. Boise Cascade’s dividend payout ratio is presently 8.79%.

About Boise Cascade

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.