Boise Cascade (NYSE:BCC) Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC lowered its stake in Boise Cascade (NYSE:BCC) by 11.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,527 shares of the construction company’s stock after selling 320 shares during the quarter. Metis Global Partners LLC’s holdings in Boise Cascade were worth $300,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of BCC. Harbor Capital Advisors Inc. acquired a new stake in shares of Boise Cascade in the third quarter valued at about $28,000. R Squared Ltd acquired a new stake in shares of Boise Cascade in the fourth quarter valued at about $29,000. Larson Financial Group LLC grew its stake in shares of Boise Cascade by 23.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock valued at $53,000 after buying an additional 73 shares in the last quarter. Principal Securities Inc. grew its stake in shares of Boise Cascade by 44.2% in the fourth quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock valued at $56,000 after buying an additional 145 shares in the last quarter. Finally, Covestor Ltd grew its stake in shares of Boise Cascade by 50.1% in the third quarter. Covestor Ltd now owns 689 shares of the construction company’s stock valued at $97,000 after buying an additional 230 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Insiders Place Their Bets

In related news, COO Jeffrey Robert Strom sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total value of $450,945.00. Following the sale, the chief operating officer now 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 document filed with the SEC, which is accessible through this hyperlink. Also, Director Kristopher J. Matula sold 553 shares of the firm’s 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 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 company insiders.

Boise Cascade Trading Up 0.5 %

NYSE:BCC opened at $100.78 on Friday. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average is $119.38 and its two-hundred day moving average is $130.94. Boise Cascade has a 52 week low of $97.21 and a 52 week high of $155.42. The company has a market cap of $3.82 billion, a PE ratio of 10.54 and a beta of 1.57.

Boise Cascade (NYSE:BCC) last released its earnings results on Thursday, February 20th. The construction company reported $1.78 EPS 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 firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion. On average, analysts predict that Boise Cascade will post 10.15 EPS for the current 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 issued 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 is presently 8.79%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BCC shares. Loop Capital lowered their target price on Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, February 24th. DA Davidson reduced their price target on Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a report on Monday, February 24th. The Goldman Sachs Group reduced their price target on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Truist Financial reduced their price target on Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a report on Monday, February 24th. Finally, Benchmark reissued a “hold” rating on shares of Boise Cascade in a report on Tuesday, February 25th. One 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. Based on data from MarketBeat.com, Boise Cascade presently has a consensus rating of “Hold” and an average target price of $128.50.

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.