468,450 Shares in Boise Cascade (NYSE:BCC) Purchased by Norges Bank

Norges Bank acquired a new stake in Boise Cascade (NYSE:BCC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 468,450 shares of the construction company's stock, valued at approximately $55,680,000. Norges Bank owned 1.22% of Boise Cascade at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Caisse Des Depots ET Consignations purchased a new position in Boise Cascade in the fourth quarter valued at about $1,096,000. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in Boise Cascade by 71.5% in the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 7,081 shares of the construction company's stock worth $842,000 after buying an additional 2,953 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Boise Cascade by 133.7% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,016 shares of the construction company's stock worth $834,000 after acquiring an additional 4,014 shares during the period. EFG Asset Management North America Corp. raised its stake in Boise Cascade by 59.1% in the 4th quarter. EFG Asset Management North America Corp. now owns 18,220 shares of the construction company's stock valued at $2,166,000 after acquiring an additional 6,770 shares during the period. Finally, Segall Bryant & Hamill LLC increased its stake in shares of Boise Cascade by 49.4% in the fourth quarter. Segall Bryant & Hamill LLC now owns 21,302 shares of the construction company's stock worth $2,532,000 after purchasing an additional 7,048 shares in the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

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Boise Cascade Price Performance

Shares of BCC traded up $0.75 during trading hours on Friday, reaching $95.38. 827,560 shares of the company's stock traded hands, compared to its average volume of 327,322. 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 firm's 50 day simple moving average is $109.24 and its 200-day simple moving average is $126.19. The stock has a market cap of $3.62 billion, a PE ratio of 9.98 and a beta of 1.67. Boise Cascade has a 12 month low of $89.59 and a 12 month high of $155.42.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing analysts' consensus estimates of $1.79 by ($0.01). Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.57 billion. Equities analysts expect that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.88%. The ex-dividend date was Monday, February 24th. Boise Cascade's dividend payout ratio (DPR) is currently 8.79%.

Insider Transactions at Boise Cascade

In related news, COO Jeffrey Robert Strom sold 4,500 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total transaction of $450,945.00. Following the completion of the sale, the chief operating officer now directly owns 38,026 shares in the company, valued at $3,810,585.46. This represents a 10.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kristopher J. Matula sold 553 shares of Boise Cascade stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total value of $57,047.48. Following the completion of the transaction, the director now directly owns 13,099 shares in the company, valued at $1,351,292.84. This trade represents a 4.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Truist Financial lowered their target price on shares of Boise Cascade from $157.00 to $134.00 and set a "buy" rating on the stock in a report on Monday, February 24th. Loop Capital decreased their price objective 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 cut their target price on Boise Cascade from $145.00 to $126.00 and set a "neutral" rating for the company 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 report on Monday, February 24th. Finally, Benchmark reissued a "hold" rating on shares of Boise Cascade in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Boise Cascade currently has an average rating of "Hold" and a consensus price target 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.