Great Lakes Advisors LLC Trims Position in Boise Cascade (NYSE:BCC)

Great Lakes Advisors LLC decreased its position in shares of Boise Cascade (NYSE:BCC) by 8.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 29,624 shares of the construction company’s stock after selling 2,570 shares during the period. Great Lakes Advisors LLC owned 0.08% of Boise Cascade worth $3,521,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Tidal Investments LLC lifted its stake in shares of Boise Cascade by 341.9% during the third quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock valued at $2,229,000 after buying an additional 12,231 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 valued at $61,680,000 after buying an additional 9,128 shares during the period. Fulcrum Capital LLC purchased a new position in Boise Cascade during the fourth quarter worth approximately $1,092,000. D.A. Davidson & CO. raised its stake 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 during the period. Finally, Nordea Investment Management AB raised its stake in Boise Cascade by 5.0% during the fourth quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company’s stock worth $14,454,000 after purchasing an additional 5,779 shares during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Insider Activity at Boise Cascade

In related news, COO Jeffrey Robert Strom sold 4,500 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total transaction of $450,945.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kristopher J. Matula sold 553 shares of the stock in a transaction on 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 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 1.05% of the company’s stock.

Boise Cascade Price Performance

Boise Cascade stock opened at $99.29 on Friday. Boise Cascade has a 52-week low of $95.33 and a 52-week high of $155.42. The firm has a fifty day moving average of $116.93 and a 200-day moving average of $129.60. The firm has a market capitalization of $3.77 billion, a P/E ratio of 10.39 and a beta of 1.67. 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 released 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). The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. As a group, analysts predict that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors 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 0.85%. The ex-dividend date of this dividend is Monday, February 24th. Boise Cascade’s payout ratio is 8.79%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on BCC shares. BMO Capital Markets cut 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 note on Tuesday, February 25th. DA Davidson cut 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 note on Monday, February 24th. The Goldman Sachs Group cut their price target on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Loop Capital cut 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 note on Monday, February 24th. Finally, Truist Financial dropped their price objective on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Boise Cascade presently has an average 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.