Vanguard Group Inc. Lowers Holdings in Boise Cascade (NYSE:BCC)

Vanguard Group Inc. reduced its stake in shares of Boise Cascade (NYSE:BCC) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,352,313 shares of the construction company’s stock after selling 83,315 shares during the quarter. Vanguard Group Inc. owned 11.33% of Boise Cascade worth $517,316,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. The Goldman Sachs Group reduced their price target on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. DA Davidson decreased their target price on Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Truist Financial cut their price target 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. Loop Capital decreased their price objective 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. Finally, BMO Capital Markets dropped their target price on shares of 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. One equities research 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.com, the stock has an average rating of “Hold” and a consensus target price of $128.50.

Boise Cascade Price Performance

Boise Cascade stock opened at $98.11 on Tuesday. The company has a fifty day simple moving average of $111.68 and a 200-day simple moving average of $127.19. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 10.26 and a beta of 1.67. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22. Boise Cascade has a 52-week low of $95.30 and a 52-week high of $155.42.

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

Boise Cascade Dividend Announcement

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

Insider Buying and Selling

In related news, Director Kristopher J. Matula sold 553 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 13,099 shares in the company, valued at approximately $1,351,292.84. This trade represents a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey Robert Strom sold 4,500 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total transaction of $450,945.00. Following the completion of the transaction, the chief operating officer now 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. 0.98% of the stock is currently owned by company insiders.

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.