Intech Investment Management LLC Acquires 23,194 Shares of Boise Cascade (NYSE:BCC)

Intech Investment Management LLC lifted its holdings in shares of Boise Cascade (NYSE:BCC) by 168.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 36,978 shares of the construction company’s stock after acquiring an additional 23,194 shares during the period. Intech Investment Management LLC’s holdings in Boise Cascade were worth $4,395,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its holdings in shares of 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 acquiring an additional 12,963 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Boise Cascade by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 443,691 shares of the construction company’s stock valued at $52,737,000 after purchasing an additional 6,182 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Boise Cascade by 2.6% during the 4th quarter. Principal Financial Group Inc. now owns 208,323 shares of the construction company’s stock valued at $24,761,000 after purchasing an additional 5,281 shares during the last quarter. Bank of Montreal Can lifted 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 valued at $17,907,000 after purchasing an additional 119,103 shares during the last quarter. Finally, FMR LLC lifted its holdings in Boise Cascade by 158.9% during the 3rd quarter. FMR LLC now owns 126,123 shares of the construction company’s stock valued at $17,781,000 after purchasing an additional 77,401 shares during the last quarter. 96.18% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Boise Cascade news, COO Jeffrey Robert Strom sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total value of $450,945.00. Following the completion of the sale, the chief operating officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kristopher J. Matula sold 553 shares of the company’s stock in a transaction that occurred 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 $1,351,292.84. The trade was a 4.05 % decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by insiders.

Boise Cascade Trading Down 0.5 %

Shares of NYSE BCC opened at $99.46 on Wednesday. Boise Cascade has a 1-year low of $95.33 and a 1-year high of $155.42. The company has a 50-day moving average of $115.76 and a two-hundred day moving average of $128.78. 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 cap of $3.77 billion, a PE ratio of 10.40 and a beta of 1.67.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. As a group, equities analysts expect that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, February 24th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Monday, February 24th. Boise Cascade’s dividend payout ratio (DPR) is 8.79%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BCC. Loop Capital cut their price target on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a report on Monday, February 24th. The Goldman Sachs Group cut their price target on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. BMO Capital Markets cut their price target on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a report on Tuesday, February 25th. 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 note on Monday, February 24th. Finally, Benchmark reaffirmed a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $128.50.

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.