LPL Financial LLC Increases Position in Boise Cascade (NYSE:BCC)

LPL Financial LLC lifted its position in shares of Boise Cascade (NYSE:BCC) by 29.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,127 shares of the construction company’s stock after buying an additional 3,187 shares during the quarter. LPL Financial LLC’s holdings in Boise Cascade were worth $1,679,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. R Squared Ltd purchased a new position in shares of Boise Cascade in the fourth quarter valued at about $29,000. Principal Securities Inc. lifted its holdings in Boise Cascade by 44.2% in the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock worth $56,000 after purchasing an additional 145 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Boise Cascade by 254.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company’s stock worth $92,000 after purchasing an additional 558 shares during the period. KBC Group NV grew its holdings in Boise Cascade by 41.3% during the 4th quarter. KBC Group NV now owns 1,732 shares of the construction company’s stock valued at $206,000 after buying an additional 506 shares in the last quarter. Finally, Corient Private Wealth LLC raised its position in shares of Boise Cascade by 19.3% during the fourth quarter. Corient Private Wealth LLC now owns 1,915 shares of the construction company’s stock valued at $236,000 after buying an additional 310 shares during the last quarter. Institutional investors own 96.18% of the company’s stock.

Insider Buying and Selling

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total value of $57,047.48. Following the completion of the sale, the director now directly owns 13,099 shares of the company’s stock, valued at $1,351,292.84. The trade was a 4.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey Robert Strom sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total transaction of $450,945.00. Following the transaction, the chief operating officer now directly owns 38,026 shares in the company, valued at approximately $3,810,585.46. This trade represents a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.11% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

BCC has been the subject of a number of research reports. BMO Capital Markets dropped their target price on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a research report on Tuesday, February 25th. Benchmark restated a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. Truist Financial decreased their target price on Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. DA Davidson cut their price target on Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a report on Monday, February 24th. Finally, The Goldman Sachs Group reduced their price objective on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Boise Cascade currently has a consensus rating of “Hold” and an average target price of $127.67.

Boise Cascade Trading Down 1.0 %

Shares of BCC stock opened at $92.92 on Thursday. The company has a market cap of $3.53 billion, a PE ratio of 9.72 and a beta of 1.52. Boise Cascade has a 1 year low of $87.84 and a 1 year high of $155.42. The stock’s 50 day simple moving average is $102.84 and its two-hundred day simple moving average is $123.19. 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 (NYSE:BCC) last released its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.01). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Research analysts predict that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, February 24th were issued a dividend of $0.21 per share. The ex-dividend date was Monday, February 24th. This represents a $0.84 annualized dividend and a yield of 0.90%. Boise Cascade’s payout ratio is 8.79%.

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.