Handelsbanken Fonder AB Increases Position in Boise Cascade (NYSE:BCC)

Handelsbanken Fonder AB lifted its holdings in Boise Cascade (NYSE:BCC) by 19.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,000 shares of the construction company’s stock after buying an additional 1,300 shares during the period. Handelsbanken Fonder AB’s holdings in Boise Cascade were worth $951,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Boise Cascade by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock worth $61,680,000 after buying an additional 9,128 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Boise Cascade by 2.6% in the 4th quarter. Principal Financial Group Inc. now owns 208,323 shares of the construction company’s stock worth $24,761,000 after buying an additional 5,281 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Boise Cascade by 1,597.4% in the 3rd quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock worth $17,907,000 after buying an additional 119,103 shares during the last quarter. FMR LLC boosted its stake in shares of 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 buying an additional 77,401 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Boise Cascade by 5.0% in the 4th quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company’s stock worth $14,454,000 after buying an additional 5,779 shares during the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on BCC. DA Davidson dropped their price objective on Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday. Loop Capital dropped their price objective on Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Truist Financial dropped their price objective on Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a research note on Monday. Finally, BMO Capital Markets dropped their price objective on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a research note on Tuesday. One investment 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 MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $128.50.

Insider Buying and Selling at Boise Cascade

In other news, Director Kristopher J. Matula sold 553 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total value of $57,047.48. Following the transaction, the director now owns 13,099 shares of the company’s stock, valued at approximately $1,351,292.84. This represents a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.98% of the company’s stock.

Boise Cascade Trading Down 1.3 %

Shares of BCC stock opened at $102.71 on Friday. The company’s fifty day simple moving average is $121.11 and its two-hundred day simple moving average is $131.63. 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 $102.17 and a 1 year high of $155.42. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 10.74 and a beta of 1.57.

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 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 the consensus estimate of $1.57 billion. As a group, analysts anticipate that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.82%. Boise Cascade’s payout ratio is 8.79%.

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.