Boise Cascade (NYSE:BCC) Shares Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN increased its position in shares of Boise Cascade (NYSE:BCC) by 9.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 90,347 shares of the construction company’s stock after acquiring an additional 7,578 shares during the quarter. Wells Fargo & Company MN’s holdings in Boise Cascade were worth $10,739,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its holdings in shares of Boise Cascade by 12.0% during the 4th quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock valued at $134,831,000 after buying an additional 121,790 shares during the last quarter. Norges Bank bought a new position in shares of Boise Cascade during the 4th quarter worth approximately $55,680,000. Bank of New York Mellon Corp boosted its position in Boise Cascade by 3.0% in the fourth quarter. Bank of New York Mellon Corp now owns 446,350 shares of the construction company’s stock valued at $53,053,000 after buying an additional 12,963 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Boise Cascade by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 443,691 shares of the construction company’s stock valued at $52,737,000 after buying an additional 6,182 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Boise Cascade by 2.6% during the fourth quarter. Principal Financial Group Inc. now owns 208,323 shares of the construction company’s stock worth $24,761,000 after acquiring an additional 5,281 shares during the last quarter. 96.18% of the stock is currently owned by 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 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 approximately $3,810,585.46. This represents a 10.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kristopher J. Matula sold 553 shares of the business’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 directly owns 13,099 shares of the company’s stock, valued at $1,351,292.84. This represents a 4.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.11% of the company’s stock.

Analysts Set New Price Targets

BCC has been the topic of a number of analyst reports. Benchmark reiterated a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. DA Davidson decreased their price objective on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, February 24th. The Goldman Sachs Group lowered their target price on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. BMO Capital Markets reduced their target price 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. Finally, Loop Capital lowered their target price on Boise Cascade from $140.00 to $135.00 and set a “buy” rating for the company in a report on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Boise Cascade currently has an average rating of “Hold” and a consensus price target of $127.67.

Boise Cascade Stock Down 1.0 %

Boise Cascade stock opened at $92.92 on Thursday. The firm’s fifty day moving average is $102.84 and its 200 day moving average is $123.19. Boise Cascade has a 12-month low of $87.84 and a 12-month high of $155.42. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $3.53 billion, a PE ratio of 9.72 and a beta of 1.52.

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

Boise Cascade Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, February 24th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Monday, February 24th. Boise Cascade’s dividend payout ratio (DPR) is currently 8.79%.

Boise Cascade 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.