Jeffrey Robert Strom Sells 4,500 Shares of Boise Cascade (NYSE:BCC) Stock

Boise Cascade (NYSE:BCC) COO Jeffrey Robert Strom sold 4,500 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total value of $450,945.00. Following the transaction, the chief operating officer now directly owns 38,026 shares in the company, valued at $3,810,585.46. This trade represents a 10.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Boise Cascade Price Performance

BCC stock opened at $101.71 on Friday. 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 company has a market capitalization of $3.86 billion, a PE ratio of 10.64 and a beta of 1.67. Boise Cascade has a 12-month low of $97.21 and a 12-month high of $155.42. The business’s fifty day moving average price is $118.94 and its 200 day moving average price is $130.73.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.01). The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. On average, sell-side analysts anticipate that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, February 24th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $0.84 annualized dividend and a dividend yield of 0.83%. Boise Cascade’s dividend payout ratio is presently 8.79%.

Institutional Investors Weigh In On Boise Cascade

Several institutional investors and hedge funds have recently modified their holdings of BCC. Norges Bank purchased a new stake in Boise Cascade during the 4th quarter worth about $55,680,000. First Trust Advisors LP increased its holdings in Boise Cascade by 37.9% during the 4th quarter. First Trust Advisors LP now owns 712,527 shares of the construction company’s stock worth $84,691,000 after purchasing an additional 195,773 shares during the period. American Century Companies Inc. increased its holdings in 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 worth $134,831,000 after purchasing an additional 121,790 shares during the period. Bank of Montreal Can increased its holdings in Boise Cascade by 1,597.4% during 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 period. Finally, Tidal Investments LLC increased its holdings in Boise Cascade by 534.5% during the 4th quarter. Tidal Investments LLC now owns 100,295 shares of the construction company’s stock worth $11,921,000 after purchasing an additional 84,487 shares during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Analyst Upgrades and Downgrades

BCC has been the topic of a number of recent research reports. BMO Capital Markets lowered their price objective on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 25th. Loop Capital decreased their price target on Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. The Goldman Sachs Group decreased their price target on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. DA Davidson decreased their price target on Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Finally, Truist Financial decreased their price target on Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $128.50.

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.