Boise Cascade (NYSE:BCC) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its stake in shares of Boise Cascade (NYSE:BCC) by 9.5% in the fourth quarter, Holdings Channel reports. The fund owned 98,989 shares of the construction company’s stock after selling 10,409 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Boise Cascade were worth $12,805,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. HighTower Advisors LLC purchased a new stake in shares of Boise Cascade in the first quarter valued at about $213,000. Citigroup Inc. boosted its holdings in Boise Cascade by 7.0% in the 1st quarter. Citigroup Inc. now owns 42,016 shares of the construction company’s stock valued at $2,919,000 after purchasing an additional 2,737 shares in the last quarter. Bank of Montreal Can increased its position in Boise Cascade by 5.0% during the 1st quarter. Bank of Montreal Can now owns 12,598 shares of the construction company’s stock worth $933,000 after purchasing an additional 598 shares during the period. MetLife Investment Management LLC raised its stake in shares of Boise Cascade by 56.7% during the 1st quarter. MetLife Investment Management LLC now owns 20,948 shares of the construction company’s stock worth $1,455,000 after buying an additional 7,576 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Boise Cascade by 3.0% in the 1st quarter. Rhumbline Advisers now owns 109,084 shares of the construction company’s stock valued at $7,578,000 after buying an additional 3,138 shares during the period. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BCC. The Goldman Sachs Group upped their price objective on Boise Cascade from $114.00 to $129.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Finally, Truist Financial raised their price objective on shares of Boise Cascade from $156.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $125.00.

Insider Activity at Boise Cascade

In other Boise Cascade news, EVP Dean Michael Brown sold 11,117 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $139.09, for a total transaction of $1,546,263.53. Following the completion of the transaction, the executive vice president now owns 40,237 shares of the company’s stock, valued at $5,596,564.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.05% of the stock is owned by corporate insiders.

Boise Cascade Trading Down 0.7 %

Shares of BCC stock opened at $149.00 on Tuesday. The stock has a market cap of $5.89 billion, a P/E ratio of 12.29 and a beta of 1.60. The company has a quick ratio of 2.26, a current ratio of 3.46 and a debt-to-equity ratio of 0.22. Boise Cascade has a fifty-two week low of $64.39 and a fifty-two week high of $154.67. The business has a fifty day simple moving average of $140.18 and a 200-day simple moving average of $123.66.

Boise Cascade (NYSE:BCC) last posted its earnings results on Wednesday, February 21st. The construction company reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($0.01). Boise Cascade had a net margin of 7.07% and a return on equity of 21.94%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter last year, the business posted $2.95 earnings per share. The business’s revenue was up 1.0% compared to the same quarter last year. On average, analysts forecast that Boise Cascade will post 11.58 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 23rd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.54%. Boise Cascade’s dividend payout ratio is currently 6.60%.

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.