Principal Financial Group Inc. Acquires 5,281 Shares of Boise Cascade (NYSE:BCC)

Principal Financial Group Inc. increased its position in Boise Cascade (NYSE:BCC) by 2.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 208,323 shares of the construction company’s stock after acquiring an additional 5,281 shares during the quarter. Principal Financial Group Inc.’s holdings in Boise Cascade were worth $24,761,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tidal Investments LLC increased its stake in shares of Boise Cascade by 341.9% in the third quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock valued at $2,229,000 after buying an additional 12,231 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Boise Cascade by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock valued at $61,680,000 after buying an additional 9,128 shares during the period. Fulcrum Capital LLC acquired a new position in shares of Boise Cascade in the fourth quarter valued at approximately $1,092,000. Nordea Investment Management AB increased its stake in shares of Boise Cascade by 5.0% in the fourth quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company’s stock valued at $14,454,000 after buying an additional 5,779 shares during the period. Finally, Barclays PLC increased its stake in shares of Boise Cascade by 174.1% in the third quarter. Barclays PLC now owns 90,366 shares of the construction company’s stock valued at $12,739,000 after buying an additional 57,403 shares during the period. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Stock Performance

Shares of BCC stock opened at $106.98 on Monday. The company has a market cap of $4.11 billion, a price-to-earnings ratio of 11.19 and a beta of 1.57. Boise Cascade has a 52 week low of $103.57 and a 52 week high of $155.42. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average of $123.15 and a 200-day moving average of $132.34.

Boise Cascade (NYSE:BCC) last issued its earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). Boise Cascade had a return on equity of 16.89% and a net margin of 5.60%. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.57 billion. On average, equities analysts forecast that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, February 24th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date is Monday, February 24th. Boise Cascade’s dividend payout ratio is currently 8.79%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BCC. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Truist Financial decreased their target price on shares of Boise Cascade from $161.00 to $157.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Loop Capital started coverage on shares of Boise Cascade in a research report on Friday, November 1st. They set a “buy” rating and a $155.00 price objective for the company. Finally, The Goldman Sachs Group reduced their price objective on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $139.60.

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.