Advisors Asset Management Inc. Sells 3,922 Shares of Boise Cascade (NYSE:BCC)

Advisors Asset Management Inc. trimmed its holdings in Boise Cascade (NYSE:BCC - Free Report) by 3.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 100,082 shares of the construction company's stock after selling 3,922 shares during the quarter. Advisors Asset Management Inc. owned 0.26% of Boise Cascade worth $11,896,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its holdings in Boise Cascade by 3.0% in 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 acquiring an additional 12,963 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Boise Cascade by 1.4% in 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 acquiring an additional 6,182 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Boise Cascade by 2.6% in the 4th 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 during the last quarter. Bank of Montreal Can lifted its holdings in Boise Cascade by 1,597.4% in the 3rd quarter. Bank of Montreal Can now owns 126,559 shares of the construction company's stock valued at $17,907,000 after acquiring an additional 119,103 shares during the last quarter. Finally, FMR LLC lifted its holdings in Boise Cascade by 158.9% in the 3rd quarter. FMR LLC now owns 126,123 shares of the construction company's stock valued at $17,781,000 after acquiring an additional 77,401 shares during the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. 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 cut their price objective on Boise Cascade from $155.00 to $125.00 and set a "buy" rating on the stock in a report on Monday, February 24th. Loop Capital cut their price objective on Boise Cascade from $145.00 to $140.00 and set a "buy" rating on the stock in a report on Monday, February 24th. The Goldman Sachs Group cut 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. Finally, Truist Financial cut their price objective on Boise Cascade from $157.00 to $134.00 and set a "buy" rating on the stock in a report on Monday, February 24th. One 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. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $128.50.

Boise Cascade Stock Down 1.0 %

Shares of BCC traded down $0.98 during trading hours on Friday, reaching $99.46. The company's stock had a trading volume of 2,108,455 shares, compared to its average volume of 307,367. The firm has a market cap of $3.77 billion, a price-to-earnings ratio of 10.40 and a beta of 1.67. Boise Cascade has a 1-year low of $95.33 and a 1-year high of $155.42. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22. The company has a 50 day moving average of $114.75 and a two-hundred day moving average of $128.13.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its 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 during the quarter, compared to analyst estimates of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. As a group, research analysts predict that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, February 24th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.84%. 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 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 transaction, the director now owns 13,099 shares in the company, valued at approximately $1,351,292.84. This represents a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Jeffrey Robert Strom sold 4,500 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total value of $450,945.00. Following the completion of the transaction, the chief operating officer now owns 38,026 shares in the company, valued at $3,810,585.46. This represents a 10.58 % decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by corporate 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.