Boise Cascade (NYSE:BCC) Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP lessened its stake in Boise Cascade (NYSE:BCC) by 16.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,402 shares of the construction company’s stock after selling 1,476 shares during the quarter. Mission Wealth Management LP’s holdings in Boise Cascade were worth $880,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in 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 valued at $53,053,000 after purchasing an additional 12,963 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Boise Cascade by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock valued at $61,680,000 after acquiring an additional 9,128 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Boise Cascade by 2.6% during the fourth quarter. Principal Financial Group Inc. now owns 208,323 shares of the construction company’s stock valued at $24,761,000 after acquiring an additional 5,281 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Boise Cascade by 1,597.4% in the third quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock worth $17,907,000 after acquiring an additional 119,103 shares in the last quarter. Finally, FMR LLC lifted its stake in shares of Boise Cascade by 158.9% in the third quarter. FMR LLC now owns 126,123 shares of the construction company’s stock worth $17,781,000 after acquiring an additional 77,401 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BCC. The Goldman Sachs Group dropped their price objective on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Truist Financial dropped their price target on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a research note on Monday, February 24th. BMO Capital Markets reduced their price objective on shares of 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 dropped their target price on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Finally, DA Davidson cut 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $128.50.

Boise Cascade Stock Down 3.9 %

Shares of NYSE:BCC opened at $98.20 on Wednesday. Boise Cascade has a 1-year low of $97.21 and a 1-year high of $155.42. The company’s fifty day moving average is $120.34 and its two-hundred day moving average is $131.36. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 10.27 and a beta of 1.57.

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

Boise Cascade Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, February 24th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.86%. Boise Cascade’s dividend payout ratio is currently 8.79%.

Insider Buying and Selling

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of the business’s stock in a transaction dated 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.98% of the stock is owned by company insiders.

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.