Schroder Investment Management Group Sells 2,029 Shares of Boise Cascade (NYSE:BCC)

Schroder Investment Management Group decreased its stake in shares of Boise Cascade (NYSE:BCC) by 9.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 18,612 shares of the construction company’s stock after selling 2,029 shares during the period. Schroder Investment Management Group’s holdings in Boise Cascade were worth $2,211,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Cerity Partners LLC lifted its holdings in shares of Boise Cascade by 34.5% in the third quarter. Cerity Partners LLC now owns 3,897 shares of the construction company’s stock worth $549,000 after buying an additional 999 shares in the last quarter. FMR LLC lifted its stake in Boise Cascade by 158.9% in the 3rd quarter. FMR LLC now owns 126,123 shares of the construction company’s stock worth $17,781,000 after purchasing an additional 77,401 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Boise Cascade in the 3rd quarter worth approximately $7,653,000. XTX Topco Ltd boosted its holdings in Boise Cascade by 441.5% in the 3rd quarter. XTX Topco Ltd now owns 10,077 shares of the construction company’s stock valued at $1,421,000 after purchasing an additional 8,216 shares during the period. Finally, Orion Portfolio Solutions LLC grew its position in shares of Boise Cascade by 8.9% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 2,023 shares of the construction company’s stock valued at $285,000 after purchasing an additional 165 shares in the last quarter. Institutional investors own 96.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BCC shares. Benchmark reissued a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Loop Capital dropped their price target on Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, February 24th. The Goldman Sachs Group cut their price objective on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. BMO Capital Markets lowered 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 note on Tuesday, February 25th. Finally, 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 research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Boise Cascade currently has an average rating of “Hold” and an average price target of $128.50.

Insider Transactions at Boise Cascade

In other news, COO Jeffrey Robert Strom sold 4,500 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total transaction of $450,945.00. Following the completion of the sale, the chief operating officer now owns 38,026 shares of the company’s stock, valued at approximately $3,810,585.46. This represents a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kristopher J. Matula sold 553 shares of Boise Cascade 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 transaction, the director now directly owns 13,099 shares in the company, valued at approximately $1,351,292.84. The trade was a 4.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.98% of the company’s stock.

Boise Cascade Stock Performance

NYSE:BCC opened at $95.38 on Monday. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of 9.98 and a beta of 1.52. The business has a 50 day moving average of $109.24 and a 200 day moving average of $126.11. 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 has a 1-year low of $89.59 and a 1-year 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 for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.57 billion. On average, sell-side analysts predict that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.88%. Boise Cascade’s dividend payout ratio (DPR) is currently 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.