Rhumbline Advisers Sells 8,014 Shares of Boise Cascade (NYSE:BCC)

Rhumbline Advisers cut its holdings in Boise Cascade (NYSE:BCC) by 6.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 112,166 shares of the construction company’s stock after selling 8,014 shares during the period. Rhumbline Advisers owned 0.30% of Boise Cascade worth $11,002,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of BCC. D.A. Davidson & CO. lifted its stake in Boise Cascade by 4.2% during the fourth quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company’s stock worth $388,000 after purchasing an additional 133 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in 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 during the last quarter. Handelsbanken Fonder AB raised its holdings in Boise Cascade by 19.4% during the 4th quarter. Handelsbanken Fonder AB now owns 8,000 shares of the construction company’s stock valued at $951,000 after buying an additional 1,300 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Boise Cascade by 2.6% during the 4th quarter. Principal Financial Group Inc. now owns 208,323 shares of the construction company’s stock valued at $24,761,000 after buying an additional 5,281 shares during the last quarter. Finally, HighTower Advisors LLC raised its holdings in Boise Cascade by 139.1% during the 4th quarter. HighTower Advisors LLC now owns 4,507 shares of the construction company’s stock valued at $536,000 after buying an additional 2,622 shares during the last quarter. 96.18% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Boise Cascade news, EVP Joanna L. Barney sold 1,000 shares of the business’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $87.68, for a total transaction of $87,680.00. Following the completion of the sale, the executive vice president now directly owns 12,372 shares in the company, valued at $1,084,776.96. The trade was a 7.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jill Twedt sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $88.01, for a total transaction of $105,612.00. Following the sale, the senior vice president now owns 34,649 shares of the company’s stock, valued at $3,049,458.49. This trade represents a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by corporate insiders.

Boise Cascade Price Performance

Shares of BCC opened at $88.67 on Tuesday. The company has a market capitalization of $3.34 billion, a P/E ratio of 9.28 and a beta of 1.36. The firm has a 50 day moving average of $91.33 and a 200 day moving average of $109.94. Boise Cascade has a twelve month low of $83.86 and a twelve month high of $155.42. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22.

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

Boise Cascade Announces Dividend

The company also recently disclosed 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. This represents a $0.84 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Monday, June 2nd. Boise Cascade’s payout ratio is currently 10.49%.

Analyst Upgrades and Downgrades

BCC has been the subject of several recent analyst reports. Truist Financial lowered their price objective on shares of Boise Cascade from $134.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Loop Capital lowered their price target on Boise Cascade from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Benchmark reaffirmed a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. DA Davidson decreased their price objective on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a report on Monday, February 24th. Finally, BMO Capital Markets decreased their target price on 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently 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.