Royce & Associates LP Reduces Holdings in Boise Cascade (NYSE:BCC)

Royce & Associates LP decreased its position in shares of Boise Cascade (NYSE:BCC) by 32.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,353 shares of the construction company’s stock after selling 3,997 shares during the period. Royce & Associates LP’s holdings in Boise Cascade were worth $993,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in Boise Cascade by 3.0% during the 4th quarter. Bank of New York Mellon Corp now owns 446,350 shares of the construction company’s stock worth $53,053,000 after buying an additional 12,963 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Boise Cascade by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 443,691 shares of the construction company’s stock worth $52,737,000 after purchasing an additional 6,182 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Boise Cascade by 2.6% in the 4th quarter. Principal Financial Group Inc. now owns 208,323 shares of the construction company’s stock worth $24,761,000 after purchasing an additional 5,281 shares during the last quarter. Bank of Montreal Can increased its position in shares of Boise Cascade by 1,597.4% in the 3rd quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock worth $17,907,000 after purchasing an additional 119,103 shares during the last quarter. Finally, FMR LLC increased its position in shares of Boise Cascade by 158.9% in the 3rd quarter. FMR LLC now owns 126,123 shares of the construction company’s stock worth $17,781,000 after purchasing an additional 77,401 shares during the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group dropped 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. DA Davidson dropped their target price on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Benchmark reissued a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. Loop Capital dropped 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 report on Monday, February 24th. Finally, Truist Financial decreased their price target on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a report on Monday, February 24th. 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $128.50.

Insider Buying and Selling at Boise Cascade

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of the business’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 completion of the transaction, the director now directly owns 13,099 shares of the company’s stock, valued at $1,351,292.84. The trade was a 4.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jeffrey Robert Strom sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was 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 represents a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by company insiders.

Boise Cascade Trading Down 1.0 %

NYSE BCC opened at $99.46 on Friday. Boise Cascade has a one year low of $95.33 and a one year high of $155.42. The company has a 50-day simple moving average of $114.75 and a 200-day simple moving average of $128.13. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34. The firm has a market capitalization of $3.77 billion, a PE ratio of 10.40 and a beta of 1.67.

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 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%. On average, equities analysts forecast that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Dividend Announcement

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

Boise Cascade 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.