Boise Cascade (NYSE:BCC) Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its stake in Boise Cascade (NYSE:BCC) by 24.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 192,698 shares of the construction company’s stock after selling 61,324 shares during the quarter. Bank of America Corp DE owned about 0.50% of Boise Cascade worth $22,904,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. R Squared Ltd acquired a new position in Boise Cascade in the fourth quarter valued at approximately $29,000. Quarry LP raised its position in Boise Cascade by 502.4% in the fourth quarter. Quarry LP now owns 253 shares of the construction company’s stock valued at $30,000 after purchasing an additional 211 shares during the period. Principal Securities Inc. lifted its stake in shares of Boise Cascade by 44.2% in the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock valued at $56,000 after purchasing an additional 145 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Boise Cascade by 254.8% during 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. Finally, PEAK6 LLC purchased a new position in shares of Boise Cascade during the 4th quarter worth $201,000. 96.18% of the stock is owned by institutional investors and hedge funds.

Boise Cascade Trading Up 0.8%

Shares of BCC stock opened at $91.74 on Monday. Boise Cascade has a fifty-two week low of $84.53 and a fifty-two week high of $155.42. The company has a 50 day moving average price of $95.21 and a 200 day moving average price of $115.79. The stock has a market capitalization of $3.45 billion, a P/E ratio of 9.60 and a beta of 1.43. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Monday, May 5th. The construction company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.30). The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The business’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.61 EPS. Equities research analysts predict that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, June 2nd will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 0.92%. Boise Cascade’s dividend payout ratio (DPR) is presently 10.49%.

Insider Buying and Selling

In related news, COO Jeffrey Robert Strom sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total transaction of $450,945.00. Following the sale, the chief operating officer now directly owns 38,026 shares in the company, valued at approximately $3,810,585.46. This represents a 10.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kristopher J. Matula sold 553 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 13,099 shares in the company, valued at approximately $1,351,292.84. This trade represents a 4.05% decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Loop Capital decreased their target price on shares of Boise Cascade from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Truist Financial reduced their price target on shares of Boise Cascade from $134.00 to $118.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. DA Davidson decreased their price objective on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, February 24th. 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 report on Tuesday, February 25th. Finally, Benchmark reissued a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $125.00.

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.