Boise Cascade (NYSE:BCC) Position Trimmed by Wells Fargo & Company MN

Wells Fargo & Company MN decreased its holdings in shares of Boise Cascade (NYSE:BCCFree Report) by 10.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 86,421 shares of the construction company’s stock after selling 9,809 shares during the period. Wells Fargo & Company MN owned about 0.22% of Boise Cascade worth $11,179,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in BCC. USA Financial Formulas grew its position in shares of Boise Cascade by 5,050.0% during the fourth quarter. USA Financial Formulas now owns 206 shares of the construction company’s stock worth $27,000 after acquiring an additional 202 shares during the last quarter. Principal Securities Inc. bought a new position in Boise Cascade in the 4th quarter valued at about $27,000. Global Retirement Partners LLC grew its position in Boise Cascade by 1,147.1% in the 4th quarter. Global Retirement Partners LLC now owns 212 shares of the construction company’s stock valued at $28,000 after buying an additional 195 shares in the last quarter. Blue Trust Inc. grew its position in Boise Cascade by 58.1% in the 4th quarter. Blue Trust Inc. now owns 544 shares of the construction company’s stock valued at $70,000 after buying an additional 200 shares in the last quarter. Finally, GAMMA Investing LLC bought a new position in Boise Cascade in the 4th quarter valued at about $80,000. Institutional investors own 96.18% of the company’s stock.

Insider Activity

In other news, EVP Jeffrey Robert Strom sold 2,500 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $135.00, for a total value of $337,500.00. Following the transaction, the executive vice president now owns 43,353 shares in the company, valued at approximately $5,852,655. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Jill Twedt sold 1,852 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $135.00, for a total value of $250,020.00. Following the transaction, the senior vice president now owns 37,437 shares in the company, valued at $5,053,995. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey Robert Strom sold 2,500 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $135.00, for a total value of $337,500.00. Following the completion of the transaction, the executive vice president now owns 43,353 shares in the company, valued at approximately $5,852,655. The disclosure for this sale can be found here. Insiders have sold 4,352 shares of company stock worth $587,520 in the last 90 days. Company insiders own 1.05% of the company’s stock.

Boise Cascade Price Performance

Shares of NYSE BCC opened at $134.65 on Tuesday. Boise Cascade has a twelve month low of $72.65 and a twelve month high of $154.67. The company has a current ratio of 3.24, a quick ratio of 2.05 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of 10.95 and a beta of 1.58. The firm has a 50-day moving average of $141.12 and a two-hundred day moving average of $132.71.

Boise Cascade (NYSE:BCCGet Free Report) last posted its quarterly earnings data on Monday, May 6th. The construction company reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.31. Boise Cascade had a net margin of 7.08% and a return on equity of 22.00%. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period in the prior year, the firm earned $2.43 earnings per share. The business’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, analysts expect that Boise Cascade will post 10.84 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Monday, June 3rd. Boise Cascade’s dividend payout ratio is presently 6.50%.

Analyst Upgrades and Downgrades

BCC has been the subject of a number of recent analyst reports. Truist Financial increased their target price on shares of Boise Cascade from $156.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. StockNews.com upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating in a research report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Boise Cascade has an average rating of “Hold” and a consensus target price of $131.75.

View Our Latest Report on Boise Cascade

About Boise Cascade

(Free Report)

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.

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Institutional Ownership by Quarter for Boise Cascade (NYSE:BCC)

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