Vident Advisory LLC Decreases Stock Holdings in Boise Cascade (NYSE:BCC)

Vident Advisory LLC decreased its holdings in shares of Boise Cascade (NYSE:BCC) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,188 shares of the construction company’s stock after selling 236 shares during the quarter. Vident Advisory LLC’s holdings in Boise Cascade were worth $1,211,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Barclays PLC raised its stake in shares of Boise Cascade by 174.1% in the third quarter. Barclays PLC now owns 90,366 shares of the construction company’s stock valued at $12,739,000 after acquiring an additional 57,403 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Boise Cascade by 12.1% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 5,890 shares of the construction company’s stock valued at $700,000 after acquiring an additional 635 shares during the period. Blue Trust Inc. raised its stake in shares of Boise Cascade by 49.2% in the fourth quarter. Blue Trust Inc. now owns 2,056 shares of the construction company’s stock valued at $244,000 after acquiring an additional 678 shares during the period. KBC Group NV raised its stake in shares of Boise Cascade by 41.3% in the fourth quarter. KBC Group NV now owns 1,732 shares of the construction company’s stock valued at $206,000 after acquiring an additional 506 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of Boise Cascade in the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Insiders Place Their Bets

In other news, 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 sale, the director now directly owns 13,099 shares in the company, valued at approximately $1,351,292.84. This trade represents a 4.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey Robert Strom sold 4,500 shares of the firm’s stock in a transaction dated 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 owns 38,026 shares in the company, valued at $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 owned by company insiders.

Analyst Ratings Changes

BCC has been the topic of several recent analyst reports. DA Davidson reduced their target price 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. Benchmark reissued a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Loop Capital reduced their target price 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. Truist Financial reduced their target price on shares of Boise Cascade from $134.00 to $118.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Finally, 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 report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Boise Cascade has a consensus rating of “Hold” and an average price target of $125.00.

Boise Cascade Trading Down 0.9%

NYSE BCC opened at $86.52 on Friday. The company’s 50-day moving average price is $94.19 and its 200-day moving average price is $114.44. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22. The stock has a market cap of $3.26 billion, a PE ratio of 9.05 and a beta of 1.43. Boise Cascade has a 12 month low of $84.53 and a 12 month high of $155.42.

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

Boise Cascade Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.97%. The ex-dividend date is Monday, June 2nd. Boise Cascade’s payout ratio is 10.49%.

Boise Cascade Company 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.