Boise Cascade (NYSE:BCC) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ cut its position in Boise Cascade (NYSE:BCC) by 16.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 98,600 shares of the construction company’s stock after selling 20,100 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Boise Cascade were worth $11,713,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Tidal Investments LLC grew its stake in Boise Cascade by 341.9% during the 3rd quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock worth $2,229,000 after purchasing an additional 12,231 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Boise Cascade by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock worth $61,680,000 after purchasing an additional 9,128 shares in the last quarter. Fulcrum Capital LLC purchased a new stake in Boise Cascade during the 4th quarter worth about $1,092,000. D.A. Davidson & CO. lifted its holdings in Boise Cascade by 4.2% during the 4th quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company’s stock worth $388,000 after buying an additional 133 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Boise Cascade by 5.0% during the 4th quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company’s stock worth $14,454,000 after buying an additional 5,779 shares during the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

Boise Cascade Stock Up 3.0 %

Boise Cascade stock opened at $99.29 on Friday. Boise Cascade has a fifty-two week low of $95.33 and a fifty-two week high of $155.42. 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 company has a market capitalization of $3.77 billion, a P/E ratio of 10.39 and a beta of 1.67. The stock has a 50-day simple moving average of $116.93 and a 200-day simple moving average of $129.60.

Boise Cascade (NYSE:BCC) last posted its earnings results 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). 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%. Equities research analysts expect that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Monday, February 24th. Boise Cascade’s dividend payout ratio is presently 8.79%.

Insider Buying and Selling at Boise Cascade

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was 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. This represents a 4.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the chief operating officer now directly 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 disclosure for this sale can be found here. 1.05% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Loop Capital decreased their price target on 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 decreased their price target on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Truist Financial decreased their price target on Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a report on Monday, February 24th. BMO Capital Markets decreased their price target on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a report on Tuesday, February 25th. Finally, Benchmark reaffirmed a “hold” rating on shares of Boise Cascade in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $128.50.

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.