Cerity Partners LLC Sells 599 Shares of Boise Cascade (NYSE:BCC)

Cerity Partners LLC lowered its stake in Boise Cascade (NYSE:BCC) by 15.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,298 shares of the construction company’s stock after selling 599 shares during the quarter. Cerity Partners LLC’s holdings in Boise Cascade were worth $420,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in BCC. American Century Companies Inc. raised its stake in Boise Cascade by 12.0% during the 4th quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock worth $134,831,000 after acquiring an additional 121,790 shares during the period. Norges Bank bought a new stake in shares of Boise Cascade during the 4th quarter valued at $55,680,000. Bank of New York Mellon Corp lifted its stake in shares of Boise Cascade by 3.0% during the 4th quarter. Bank of New York Mellon Corp now owns 446,350 shares of the construction company’s stock valued at $53,053,000 after buying an additional 12,963 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Boise Cascade by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 443,691 shares of the construction company’s stock worth $52,737,000 after buying an additional 6,182 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Boise Cascade by 2.6% in the 4th quarter. Principal Financial Group Inc. now owns 208,323 shares of the construction company’s stock worth $24,761,000 after buying an additional 5,281 shares in the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Stock Up 2.2 %

NYSE BCC opened at $92.79 on Wednesday. The stock has a 50 day moving average price of $100.53 and a 200-day moving average price of $121.77. Boise Cascade has a one year low of $87.84 and a one year high of $155.42. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34. The company has a market capitalization of $3.53 billion, a P/E ratio of 9.71 and a beta of 1.52.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data 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 net margin of 5.60% and a return on equity of 17.04%. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion. As a group, equities analysts predict that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.84 annualized dividend and a yield of 0.91%. Boise Cascade’s payout ratio is currently 8.79%.

Analyst Ratings Changes

Several equities analysts have recently commented on BCC shares. Benchmark restated a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. Loop Capital lowered their price target on Boise Cascade from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Truist Financial cut their price objective on shares of Boise Cascade from $134.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday. The Goldman Sachs Group reduced their price objective on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Finally, DA Davidson dropped their target price on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $125.00.

Insider Buying and Selling at Boise Cascade

In other news, Director Kristopher J. Matula sold 553 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total value of $57,047.48. Following the sale, the director now directly owns 13,099 shares in the company, valued at approximately $1,351,292.84. This represents a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey Robert Strom sold 4,500 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total value of $450,945.00. Following the transaction, the chief operating officer now owns 38,026 shares of the company’s stock, valued at approximately $3,810,585.46. The trade was a 10.58 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.98% of the company’s stock.

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.