Boise Cascade (NYSE:BCC) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its position in Boise Cascade (NYSE:BCCFree Report) by 39.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,821 shares of the construction company’s stock after selling 12,072 shares during the quarter. Hsbc Holdings PLC’s holdings in Boise Cascade were worth $2,442,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in BCC. QRG Capital Management Inc. acquired a new stake in shares of Boise Cascade in the 3rd quarter valued at about $2,682,000. Leuthold Group LLC raised its stake in shares of Boise Cascade by 10.0% in the 4th quarter. Leuthold Group LLC now owns 25,252 shares of the construction company’s stock valued at $3,267,000 after purchasing an additional 2,299 shares in the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Boise Cascade in the 4th quarter valued at about $1,200,000. DekaBank Deutsche Girozentrale raised its stake in shares of Boise Cascade by 54.2% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 58,919 shares of the construction company’s stock valued at $7,596,000 after purchasing an additional 20,712 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Boise Cascade by 30.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 33,989 shares of the construction company’s stock valued at $4,397,000 after purchasing an additional 7,992 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Wall Street Analysts Forecast Growth

BCC has been the topic of a number of recent analyst reports. Truist Financial upped their target price 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. StockNews.com raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $131.75.

View Our Latest Stock Report on BCC

Insiders Place Their Bets

In other Boise Cascade news, EVP Jeffrey Robert Strom sold 2,500 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Boise Cascade news, SVP Jill Twedt sold 1,852 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $135.00, for a total value of $250,020.00. Following the completion of the transaction, the senior vice president now owns 37,437 shares in the company, valued at approximately $5,053,995. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jeffrey Robert Strom sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $135.00, for a total transaction of $337,500.00. Following the completion of the sale, the executive vice president now directly owns 43,353 shares of the company’s stock, valued at $5,852,655. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,352 shares of company stock worth $587,520. Insiders own 0.98% of the company’s stock.

Boise Cascade Price Performance

Shares of NYSE:BCC opened at $131.56 on Friday. The company has a quick ratio of 2.05, a current ratio of 3.24 and a debt-to-equity ratio of 0.21. Boise Cascade has a fifty-two week low of $77.01 and a fifty-two week high of $154.67. The firm has a 50-day simple moving average of $140.07 and a 200 day simple moving average of $133.03. The company has a market cap of $5.19 billion, a PE ratio of 10.71 and a beta of 1.57.

Boise Cascade (NYSE:BCCGet Free Report) last announced its quarterly earnings data on Monday, May 6th. The construction company reported $2.61 earnings per share 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 business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the firm earned $2.43 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Boise Cascade will post 10.84 EPS for the current year.

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.61%. The ex-dividend date is Monday, June 3rd. Boise Cascade’s dividend payout ratio (DPR) is 6.50%.

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.

See Also

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

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