Norges Bank Takes Position in Boise Cascade (NYSE:BCC)

Norges Bank bought a new position in shares of Boise Cascade (NYSE:BCC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 468,450 shares of the construction company's stock, valued at approximately $55,680,000. Norges Bank owned approximately 1.22% of Boise Cascade as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Invst LLC raised its holdings in shares of Boise Cascade by 2.6% during the third quarter. Invst LLC now owns 5,060 shares of the construction company's stock valued at $713,000 after acquiring an additional 128 shares during the last quarter. D.A. Davidson & CO. raised its stake in Boise Cascade by 4.2% in the 4th quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company's stock valued at $388,000 after purchasing an additional 133 shares during the last quarter. Principal Securities Inc. raised its stake in Boise Cascade by 44.2% in the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company's stock valued at $56,000 after purchasing an additional 145 shares during the last quarter. Orion Portfolio Solutions LLC lifted its holdings in Boise Cascade by 8.9% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 2,023 shares of the construction company's stock valued at $285,000 after purchasing an additional 165 shares in the last quarter. Finally, Bridge City Capital LLC boosted its stake in Boise Cascade by 0.9% during the 4th quarter. Bridge City Capital LLC now owns 21,528 shares of the construction company's stock worth $2,559,000 after purchasing an additional 192 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company's stock.

Boise Cascade Trading Down 2.2 %

NYSE:BCC traded down $2.03 on Tuesday, reaching $89.86. The company's stock had a trading volume of 724,560 shares, compared to its average volume of 330,566. Boise Cascade has a 12-month low of $88.92 and a 12-month high of $155.42. The stock has a 50 day moving average price of $107.03 and a 200 day moving average price of $125.16. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 9.40 and a beta of 1.52. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC - Get Free Report) last issued 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 company 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, equities analysts anticipate that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th were issued a $0.21 dividend. The ex-dividend date was Monday, February 24th. This represents a $0.84 annualized dividend and a dividend yield of 0.93%. Boise Cascade's dividend payout ratio is currently 8.79%.

Insider Buying and Selling

In related news, Director Kristopher J. Matula sold 553 shares of the firm's stock in a transaction dated 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jeffrey Robert Strom sold 4,500 shares of the business's 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 sale, the chief operating officer now owns 38,026 shares in the company, valued at $3,810,585.46. This trade represents a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BCC shares. Benchmark reissued a "hold" rating on shares of Boise Cascade in a research note on Tuesday, February 25th. DA Davidson lowered their target price on Boise Cascade from $155.00 to $125.00 and set a "buy" rating on the stock in a report on Monday, February 24th. The Goldman Sachs Group cut 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. Loop Capital lowered 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. Finally, BMO Capital Markets dropped their target price 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average 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.