Bank of New York Mellon Corp Has $37.03 Million Holdings in Boise Cascade, L.L.C. (NYSE:BCC)

Bank of New York Mellon Corp decreased its position in Boise Cascade, L.L.C. (NYSE:BCC) by 15.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 377,520 shares of the construction company’s stock after selling 68,830 shares during the period. Bank of New York Mellon Corp owned 0.99% of Boise Cascade worth $37,031,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in Boise Cascade by 93.7% in the 1st quarter. Blue Trust Inc. now owns 918 shares of the construction company’s stock valued at $90,000 after buying an additional 444 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Boise Cascade by 60.6% during the 1st quarter. GAMMA Investing LLC now owns 1,458 shares of the construction company’s stock worth $143,000 after acquiring an additional 550 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Boise Cascade by 50.8% in the first quarter. Assenagon Asset Management S.A. now owns 23,699 shares of the construction company’s stock worth $2,325,000 after purchasing an additional 7,983 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Boise Cascade by 139.1% in the fourth quarter. HighTower Advisors LLC now owns 4,507 shares of the construction company’s stock valued at $536,000 after acquiring an additional 2,622 shares during the period. Finally, D. E. Shaw & Co. Inc. purchased a new position in shares of Boise Cascade in the fourth quarter valued at about $728,000. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Stock Performance

Shares of NYSE BCC opened at $89.50 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.51 and a current ratio of 2.82. The company has a market cap of $3.37 billion, a P/E ratio of 11.17, a P/E/G ratio of 4.22 and a beta of 1.34. The firm’s fifty day moving average is $88.86 and its two-hundred day moving average is $101.70. Boise Cascade, L.L.C. has a 52-week low of $83.60 and a 52-week high of $155.42.

Boise Cascade (NYSE:BCC) last posted its earnings results on Monday, May 5th. The construction company reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.30). Boise Cascade had a return on equity of 14.36% and a net margin of 4.72%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the firm earned $2.61 earnings per share. The business’s quarterly revenue was down 6.6% on a year-over-year basis. As a group, analysts anticipate that Boise Cascade, L.L.C. will post 10.15 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.84 annualized dividend and a yield of 0.94%. Boise Cascade’s dividend payout ratio (DPR) is 10.49%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BCC. Truist Financial reduced their price target on shares of Boise Cascade from $114.00 to $106.00 and set a “buy” rating on the stock in a research report on Tuesday, July 8th. Loop Capital dropped their price target on shares of Boise Cascade from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, Bank of America decreased their price objective on shares of Boise Cascade from $111.00 to $107.00 and set a “buy” rating on the stock in a research report on Wednesday, July 9th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $120.17.

Insider Activity

In related news, 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 completion of the transaction, the senior vice president owned 34,649 shares in the company, valued at $3,049,458.49. The trade was a 3.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Joanna L. Barney sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $87.68, for a total transaction of $87,680.00. Following the transaction, the executive vice president owned 12,372 shares of the company’s stock, valued at approximately $1,084,776.96. This trade represents a 7.48% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.98% of the company’s stock.

Boise Cascade Company 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.