Boise Cascade (NYSE:BCC) Position Reduced by Great Lakes Advisors LLC

Great Lakes Advisors LLC trimmed its stake in shares of Boise Cascade (NYSE:BCC) by 8.0% during the fourth quarter, HoldingsChannel reports. The fund owned 29,624 shares of the construction company’s stock after selling 2,570 shares during the quarter. Great Lakes Advisors LLC’s holdings in Boise Cascade were worth $3,521,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in BCC. Crossmark Global Holdings Inc. boosted its stake in Boise Cascade by 13.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,122 shares of the construction company’s stock valued at $440,000 after acquiring an additional 381 shares during the last quarter. KBC Group NV lifted its position in shares of Boise Cascade by 19.0% in the 3rd quarter. KBC Group NV now owns 1,226 shares of the construction company’s stock worth $173,000 after buying an additional 196 shares during the last quarter. Chesapeake Capital Corp IL lifted its position in shares of Boise Cascade by 27.9% in the 3rd quarter. Chesapeake Capital Corp IL now owns 3,948 shares of the construction company’s stock worth $559,000 after buying an additional 862 shares during the last quarter. Quest Partners LLC lifted its position in shares of Boise Cascade by 2,173.7% in the 3rd quarter. Quest Partners LLC now owns 7,253 shares of the construction company’s stock worth $1,023,000 after buying an additional 6,934 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its position in shares of Boise Cascade by 55.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 27,791 shares of the construction company’s stock worth $3,918,000 after buying an additional 9,958 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BCC. Loop Capital reduced their price target 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. BMO Capital Markets reduced their price target on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 25th. DA Davidson reduced their price target 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. Truist Financial reduced their price target 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. Finally, Benchmark restated 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 assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Boise Cascade currently has a consensus rating of “Hold” and a consensus price target of $128.50.

Boise Cascade Trading Up 3.0 %

Shares of NYSE:BCC opened at $99.29 on Friday. The company has a market cap of $3.77 billion, a PE ratio of 10.39 and a beta of 1.67. The company’s 50-day moving average price is $116.93 and its 200 day moving average price is $129.60. Boise Cascade has a fifty-two week low of $95.33 and a fifty-two week 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 issued its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.01). The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. Sell-side analysts anticipate that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Dividend Announcement

The business 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. The ex-dividend date is Monday, February 24th. This represents a $0.84 annualized dividend and a yield of 0.85%. Boise Cascade’s payout ratio is 8.79%.

Insider Buying and Selling at Boise Cascade

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total transaction of $57,047.48. Following the transaction, the director now owns 13,099 shares of the company’s stock, valued at approximately $1,351,292.84. This trade represents a 4.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey Robert Strom sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were 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 in the company, valued at approximately $3,810,585.46. The trade was a 10.58 % decrease in their position. The disclosure for this sale can be found here. 1.05% of the stock is owned by corporate insiders.

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.