Sumitomo Mitsui Trust Holdings Inc. Takes Position in Boise Cascade (NYSE:BCC)

Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Boise Cascade (NYSE:BCC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,902 shares of the construction company’s stock, valued at approximately $246,000.

Other large investors also recently modified their holdings of the company. QRG Capital Management Inc. bought a new position in shares of Boise Cascade in the third quarter valued at about $2,682,000. DekaBank Deutsche Girozentrale increased its position in Boise Cascade by 54.2% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 58,919 shares of the construction company’s stock worth $7,596,000 after acquiring an additional 20,712 shares during the period. Nisa Investment Advisors LLC increased its position in Boise Cascade by 81.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 8,135 shares of the construction company’s stock worth $1,052,000 after acquiring an additional 3,660 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Boise Cascade by 23.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,241 shares of the construction company’s stock worth $952,000 after acquiring an additional 1,772 shares during the period. Finally, Hsbc Holdings PLC increased its position in Boise Cascade by 312.5% during the third quarter. Hsbc Holdings PLC now owns 30,893 shares of the construction company’s stock worth $3,225,000 after acquiring an additional 23,404 shares during the period. 96.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BCC shares. The Goldman Sachs Group raised their price target on shares of Boise Cascade from $114.00 to $129.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. StockNews.com lowered shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, Truist Financial raised their price target on shares of Boise Cascade from $156.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $125.00.

Insider Activity

In other news, EVP Dean Michael Brown sold 11,117 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $139.09, for a total value of $1,546,263.53. Following the sale, the executive vice president now directly owns 40,237 shares in the company, valued at approximately $5,596,564.33. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.98% of the stock is currently owned by corporate insiders.

Boise Cascade Trading Up 0.7 %

Shares of Boise Cascade stock opened at $139.42 on Friday. The company has a market capitalization of $5.52 billion, a price-to-earnings ratio of 11.50 and a beta of 1.60. The company has a quick ratio of 2.26, a current ratio of 3.46 and a debt-to-equity ratio of 0.22. Boise Cascade has a 12-month low of $64.56 and a 12-month high of $154.67. The firm’s 50-day moving average price is $139.89 and its two-hundred day moving average price is $125.35.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Wednesday, February 21st. The construction company reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($0.01). Boise Cascade had a return on equity of 21.94% and a net margin of 7.07%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the company earned $2.95 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. On average, analysts forecast that Boise Cascade will post 11.5 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 23rd were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.57%. Boise Cascade’s payout ratio is currently 6.60%.

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.