Boise Cascade (NYSE:BCC) COO Jeffrey Robert Strom Sells 4,500 Shares of Stock

Boise Cascade (NYSE:BCC) 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 trade represents a 10.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Boise Cascade Stock Performance

BCC opened at $100.78 on Friday. The firm has a market capitalization of $3.82 billion, a PE ratio of 10.54 and a beta of 1.57. Boise Cascade has a twelve month low of $97.21 and a twelve month high of $155.42. The firm’s 50-day moving average price is $119.38 and its 200 day moving average price is $130.94. 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 posted its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.57 billion. As a group, sell-side analysts expect that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Monday, February 24th. Boise Cascade’s dividend payout ratio (DPR) is presently 8.79%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BCC shares. Loop Capital dropped their target price on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. The Goldman Sachs Group dropped their target price 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. Truist Financial dropped their target price on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. DA Davidson dropped their target price on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Finally, Benchmark reiterated 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 issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $128.50.

Hedge Funds Weigh In On Boise Cascade

Institutional investors have recently bought and sold shares of the company. Tidal Investments LLC raised its stake in Boise Cascade by 341.9% during the third quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock worth $2,229,000 after purchasing an additional 12,231 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Boise Cascade by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock worth $61,680,000 after purchasing an additional 9,128 shares during the period. Fulcrum Capital LLC purchased a new position in Boise Cascade during the fourth quarter worth about $1,092,000. D.A. Davidson & CO. raised its stake in shares of Boise Cascade by 4.2% in the 4th quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company’s stock valued at $388,000 after acquiring an additional 133 shares during the period. Finally, Nordea Investment Management AB raised its stake in shares of Boise Cascade by 5.0% in the 4th quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company’s stock valued at $14,454,000 after acquiring an additional 5,779 shares during the period. 96.18% of the stock is owned by hedge funds and other institutional investors.

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.