Boise Cascade (NYSE:BCC) Position Boosted by Northern Trust Corp

Northern Trust Corp raised its holdings in shares of Boise Cascade (NYSE:BCC) by 17.8% in the 4th quarter, Holdings Channel reports. The firm owned 483,165 shares of the construction company’s stock after purchasing an additional 73,061 shares during the quarter. Northern Trust Corp’s holdings in Boise Cascade were worth $57,429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the business. R Squared Ltd bought a new stake in shares of Boise Cascade during the fourth quarter valued at approximately $29,000. Quarry LP increased its stake in Boise Cascade by 502.4% in the 4th quarter. Quarry LP now owns 253 shares of the construction company’s stock worth $30,000 after purchasing an additional 211 shares in the last quarter. Principal Securities Inc. boosted its stake in Boise Cascade by 44.2% in the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock worth $56,000 after purchasing an additional 145 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Boise Cascade by 254.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company’s stock worth $92,000 after buying an additional 558 shares during the period. Finally, PEAK6 LLC purchased a new position in Boise Cascade during the 4th quarter valued at about $201,000. Institutional investors own 96.18% of the company’s stock.

Boise Cascade Trading Down 5.0 %

BCC stock opened at $87.86 on Wednesday. Boise Cascade has a 52 week low of $84.53 and a 52 week high of $155.42. The company’s 50-day simple moving average is $96.78 and its 200 day simple moving average is $118.39. The company has a market capitalization of $3.34 billion, a PE ratio of 9.19 and a beta of 1.43. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34.

Boise Cascade (NYSE:BCC) last released its earnings results on Monday, May 5th. The construction company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.30). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the firm earned $2.61 EPS. The business’s revenue was down 6.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, June 2nd will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.96%. The ex-dividend date is Monday, June 2nd. Boise Cascade’s dividend payout ratio is currently 10.49%.

Insider Buying and Selling

In other news, 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 transaction, the chief operating officer now directly owns 38,026 shares of the company’s stock, valued at $3,810,585.46. This represents a 10.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kristopher J. Matula sold 553 shares of Boise Cascade 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 completion of the sale, the director now directly owns 13,099 shares of the company’s stock, valued at approximately $1,351,292.84. The trade was a 4.05 % decrease in their position. The disclosure for this sale can be found here. 1.11% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BCC shares. DA Davidson reduced their price target on Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a report on Monday, February 24th. Truist Financial dropped their price objective on shares of Boise Cascade from $134.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Loop Capital decreased their price target on shares of Boise Cascade from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Benchmark restated a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. Finally, BMO Capital Markets decreased their price target on 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $125.00.

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.