Allspring Global Investments Holdings LLC Purchases 19,317 Shares of Boise Cascade, L.L.C. (NYSE:BCC)

Allspring Global Investments Holdings LLC grew its position in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 27.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 89,273 shares of the construction company’s stock after buying an additional 19,317 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Boise Cascade were worth $8,830,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Quarry LP lifted its position in shares of Boise Cascade by 502.4% during the fourth quarter. Quarry LP now owns 253 shares of the construction company’s stock worth $30,000 after purchasing an additional 211 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Boise Cascade by 338.5% in the first quarter. Farther Finance Advisors LLC now owns 478 shares of the construction company’s stock valued at $47,000 after buying an additional 369 shares during the period. Blue Trust Inc. lifted its holdings in Boise Cascade by 93.7% in the first quarter. Blue Trust Inc. now owns 918 shares of the construction company’s stock valued at $90,000 after buying an additional 444 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Boise Cascade by 254.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company’s stock valued at $92,000 after buying an additional 558 shares during the period. Finally, Curat Global LLC acquired a new position in Boise Cascade in the first quarter valued at approximately $122,000. 96.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BCC shares. Truist Financial cut their price objective on shares of Boise Cascade from $134.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Loop Capital cut their price objective on shares of Boise Cascade from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Monday, April 14th. One equities research 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $125.00.

Insider Buying and Selling at Boise Cascade

In other news, EVP Joanna L. Barney sold 1,000 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $87.68, for a total transaction of $87,680.00. Following the completion of the sale, the executive vice president owned 12,372 shares of the company’s stock, valued at $1,084,776.96. This represents a 7.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jill Twedt sold 1,200 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $88.01, for a total transaction of $105,612.00. Following the sale, the senior vice president directly owned 34,649 shares of the company’s stock, valued at $3,049,458.49. This represents a 3.35% decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is owned by corporate insiders.

Boise Cascade Trading Down 0.7%

BCC opened at $93.08 on Friday. The firm’s fifty day moving average is $89.15 and its two-hundred day moving average is $103.10. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.51 and a current ratio of 2.82. The firm has a market cap of $3.50 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 4.04 and a beta of 1.34. Boise Cascade, L.L.C. has a twelve month low of $83.60 and a twelve month high of $155.42.

Boise Cascade (NYSE:BCC) last posted its earnings results on Monday, May 5th. The construction company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.30). The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Boise Cascade had a return on equity of 14.36% and a net margin of 4.72%. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter last year, the business posted $2.61 earnings per share. Equities research analysts anticipate that Boise Cascade, L.L.C. will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Monday, June 2nd. Boise Cascade’s dividend payout ratio is 10.49%.

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.