Moran Wealth Management LLC Sells 1,709 Shares of Boise Cascade, L.L.C. (NYSE:BCC)

Moran Wealth Management LLC reduced its holdings in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 4.3% during the first quarter, HoldingsChannel reports. The firm owned 37,711 shares of the construction company’s stock after selling 1,709 shares during the period. Moran Wealth Management LLC’s holdings in Boise Cascade were worth $3,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Westwood Holdings Group Inc. raised its position in Boise Cascade by 3.9% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,192,621 shares of the construction company’s stock worth $141,755,000 after buying an additional 45,010 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Boise Cascade by 12.0% during the 4th quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock valued at $134,831,000 after acquiring an additional 121,790 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Boise Cascade by 37.9% in the fourth quarter. First Trust Advisors LP now owns 712,527 shares of the construction company’s stock worth $84,691,000 after acquiring an additional 195,773 shares during the period. Northern Trust Corp raised its holdings in shares of Boise Cascade by 17.8% during the fourth quarter. Northern Trust Corp now owns 483,165 shares of the construction company’s stock valued at $57,429,000 after purchasing an additional 73,061 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Boise Cascade during the fourth quarter valued at approximately $55,680,000. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Trading Down 1.4%

Shares of Boise Cascade stock opened at $87.68 on Thursday. Boise Cascade, L.L.C. has a 1-year low of $83.60 and a 1-year high of $155.42. The company’s fifty day simple moving average is $89.55 and its 200-day simple moving average is $105.45. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.82 and a quick ratio of 1.51. The stock has a market capitalization of $3.30 billion, a PE ratio of 10.95, a P/E/G ratio of 3.86 and a beta of 1.36.

Boise Cascade (NYSE:BCC) last announced its 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 14.36% and a net margin of 4.72%. Boise Cascade’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.61 earnings per share. As a group, equities analysts anticipate that Boise Cascade, L.L.C. will post 10.15 earnings per share for the current year.

Boise Cascade Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Monday, June 2nd. Boise Cascade’s dividend payout ratio (DPR) is currently 10.49%.

Insider Activity

In related news, SVP Jill Twedt sold 1,200 shares of Boise Cascade stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $88.01, for a total transaction of $105,612.00. Following the transaction, the senior vice president now owns 34,649 shares in the company, valued at approximately $3,049,458.49. The trade was a 3.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joanna L. Barney sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $87.68, for a total value of $87,680.00. Following the sale, the executive vice president now directly owns 12,372 shares in the company, valued at approximately $1,084,776.96. This represents a 7.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.98% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Loop Capital cut their target price on shares of Boise Cascade from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Truist Financial dropped their price target on Boise Cascade from $134.00 to $118.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. One 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 company’s stock. According to MarketBeat, Boise Cascade currently has an average 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.