Wells Fargo & Company MN Acquires 7,578 Shares of Boise Cascade (NYSE:BCC)

Wells Fargo & Company MN lifted its holdings in Boise Cascade (NYSE:BCC) by 9.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 90,347 shares of the construction company’s stock after acquiring an additional 7,578 shares during the period. Wells Fargo & Company MN owned approximately 0.24% of Boise Cascade worth $10,739,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Unison Advisors LLC boosted its stake in shares of Boise Cascade by 3.6% during the 4th quarter. Unison Advisors LLC now owns 7,443 shares of the construction company’s stock valued at $885,000 after purchasing an additional 261 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Boise Cascade during the fourth quarter valued at $5,705,000. Meeder Asset Management Inc. raised its holdings in shares of Boise Cascade by 22.7% during the fourth quarter. Meeder Asset Management Inc. now owns 34,088 shares of the construction company’s stock valued at $4,052,000 after purchasing an additional 6,297 shares during the last quarter. Brandywine Global Investment Management LLC grew its holdings in shares of Boise Cascade by 1.2% in the fourth quarter. Brandywine Global Investment Management LLC now owns 155,349 shares of the construction company’s stock worth $18,465,000 after acquiring an additional 1,904 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in Boise Cascade by 118.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 41,895 shares of the construction company’s stock valued at $4,980,000 after buying an additional 22,689 shares during the period. 96.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. BMO Capital Markets decreased their price objective on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a report on Tuesday, February 25th. Benchmark reiterated a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. DA Davidson decreased their price objective on Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a report on Monday, February 24th. Truist Financial decreased their price objective on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Finally, The Goldman Sachs Group lowered 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 research 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. According to MarketBeat.com, Boise Cascade currently has a consensus rating of “Hold” and an average target price of $127.67.

Insider Buying and Selling

In other news, Director Kristopher J. Matula sold 553 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total transaction of $57,047.48. Following the transaction, the director now directly owns 13,099 shares of the company’s stock, valued at approximately $1,351,292.84. The trade was a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jeffrey Robert Strom sold 4,500 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $3,810,585.46. This 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 insiders.

Boise Cascade Trading Down 1.0 %

NYSE:BCC opened at $92.92 on Thursday. The firm has a market cap of $3.53 billion, a PE ratio of 9.72 and a beta of 1.52. The stock has a fifty day moving average price of $102.84 and a 200 day moving average price of $123.19. Boise Cascade has a 12-month low of $87.84 and a 12-month high of $155.42. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.01). Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.57 billion. Sell-side analysts anticipate that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date was Monday, February 24th. Boise Cascade’s dividend payout ratio (DPR) is currently 8.79%.

Boise Cascade 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.