Mitsubishi UFJ Trust & Banking Corp Increases Position in Boise Cascade (NYSE:BCC)

Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Boise Cascade (NYSE:BCC) by 133.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,016 shares of the construction company’s stock after buying an additional 4,014 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Boise Cascade were worth $834,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BCC. Invst LLC boosted its stake in shares of Boise Cascade by 2.6% during the 3rd quarter. Invst LLC now owns 5,060 shares of the construction company’s stock worth $713,000 after acquiring an additional 128 shares in the last quarter. D.A. Davidson & CO. boosted its position in Boise Cascade by 4.2% during the fourth quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company’s stock worth $388,000 after purchasing an additional 133 shares in the last quarter. Principal Securities Inc. increased its position 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. Orion Portfolio Solutions LLC increased its position in shares of Boise Cascade by 8.9% in the third quarter. Orion Portfolio Solutions LLC now owns 2,023 shares of the construction company’s stock valued at $285,000 after buying an additional 165 shares in the last quarter. Finally, Bridge City Capital LLC boosted its position in shares of Boise Cascade by 0.9% in the 4th quarter. Bridge City Capital LLC now owns 21,528 shares of the construction company’s stock worth $2,559,000 after buying an additional 192 shares in the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Boise Cascade Stock Performance

NYSE BCC opened at $98.65 on Wednesday. The business’s 50-day moving average price is $111.07 and its 200 day moving average price is $126.93. 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 has a twelve month low of $95.30 and a twelve month high of $155.42. The company has a market capitalization of $3.74 billion, a PE ratio of 10.32 and a beta of 1.67.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 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, research analysts predict that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date was Monday, February 24th. Boise Cascade’s dividend payout ratio (DPR) is presently 8.79%.

Insider Transactions at Boise Cascade

In related news, COO Jeffrey Robert Strom sold 4,500 shares of the stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 38,026 shares in the company, valued at approximately $3,810,585.46. This represents a 10.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $57,047.48. Following the completion of the transaction, the director now directly owns 13,099 shares in the company, valued at $1,351,292.84. This trade represents a 4.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group cut their target price on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Truist Financial lowered their target price on Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a report on Monday, February 24th. BMO Capital Markets dropped their price target on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a research report on Tuesday, February 25th. Benchmark restated a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. Finally, Loop Capital cut their target price on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently 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.