Insider Selling: Boise Cascade (NYSE:BCC) Director Sells 553 Shares of Stock

Boise Cascade (NYSE:BCC) Director Kristopher J. Matula sold 553 shares of Boise Cascade stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total value of $57,047.48. Following the completion of the transaction, the director now directly owns 13,099 shares of the company’s stock, valued at $1,351,292.84. This represents a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Boise Cascade Price Performance

Boise Cascade stock opened at $102.71 on Friday. The firm has a market capitalization of $3.90 billion, a P/E ratio of 10.74 and a beta of 1.57. Boise Cascade has a 1 year low of $102.17 and a 1 year high of $155.42. The business has a 50-day moving average of $121.11 and a 200-day moving average of $131.63. 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 earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.01). The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.57 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. On average, equities analysts anticipate that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, February 24th. This represents a $0.84 annualized dividend and a dividend yield of 0.82%. Boise Cascade’s payout ratio is currently 8.79%.

Hedge Funds Weigh In On Boise Cascade

Several institutional investors have recently modified their holdings of the stock. Westwood Holdings Group Inc. grew its position in shares of Boise Cascade by 3.9% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,192,621 shares of the construction company’s stock valued at $141,755,000 after purchasing an additional 45,010 shares during the period. American Century Companies Inc. grew its position in shares of Boise Cascade by 12.0% in the 4th quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock valued at $134,831,000 after purchasing an additional 121,790 shares during the period. First Trust Advisors LP grew its position in shares of Boise Cascade by 37.9% in the 4th quarter. First Trust Advisors LP now owns 712,527 shares of the construction company’s stock valued at $84,691,000 after purchasing an additional 195,773 shares during the period. Northern Trust Corp grew its position in shares of Boise Cascade by 17.8% in the 4th quarter. Northern Trust Corp now owns 483,165 shares of the construction company’s stock valued at $57,429,000 after purchasing an additional 73,061 shares during the period. Finally, Norges Bank acquired a new position in shares of Boise Cascade in the 4th quarter valued at approximately $55,680,000. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BCC shares. Truist Financial cut 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. Loop Capital dropped their price objective on Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a report on Monday. Benchmark reissued a “hold” rating on shares of Boise Cascade in a report on Tuesday. The Goldman Sachs Group dropped their price objective on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Finally, StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. One 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target 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.