American Century Companies Inc. Raises Position in Boise Cascade (NYSE:BCC)

American Century Companies Inc. lifted its stake in Boise Cascade (NYSE:BCC - Free Report) by 12.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,134,364 shares of the construction company's stock after buying an additional 121,790 shares during the period. American Century Companies Inc. owned approximately 2.95% of Boise Cascade worth $134,831,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in BCC. Virtu Financial LLC acquired a new position in shares of Boise Cascade in the 4th quarter valued at $620,000. Teacher Retirement System of Texas increased its stake in Boise Cascade by 180.9% in the 4th quarter. Teacher Retirement System of Texas now owns 33,208 shares of the construction company's stock valued at $3,947,000 after buying an additional 21,385 shares during the period. Chesapeake Capital Corp IL raised its position in Boise Cascade by 21.5% during the 4th quarter. Chesapeake Capital Corp IL now owns 4,797 shares of the construction company's stock worth $570,000 after buying an additional 849 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Boise Cascade by 168.3% in the 4th quarter. Intech Investment Management LLC now owns 36,978 shares of the construction company's stock worth $4,395,000 after acquiring an additional 23,194 shares during the period. Finally, Cibc World Markets Corp purchased a new stake in shares of Boise Cascade in the fourth quarter valued at about $433,000. Hedge funds and other institutional investors own 96.18% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BCC. Benchmark reissued a "hold" rating on shares of Boise Cascade in a report on Tuesday, February 25th. The Goldman Sachs Group reduced 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 dropped 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. BMO Capital Markets reduced 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. Finally, Loop Capital lowered their price target on shares of Boise Cascade from $145.00 to $140.00 and set a "buy" rating on the stock in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Boise Cascade presently has a consensus rating of "Hold" and an average price target of $128.50.

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Insider Activity at Boise Cascade

In related news, COO Jeffrey Robert Strom sold 4,500 shares of the firm'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 trade represents a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the director now directly owns 13,099 shares of the company's stock, valued at $1,351,292.84. This trade represents a 4.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.98% of the company's stock.

Boise Cascade Price Performance

Shares of BCC stock traded down $1.63 during mid-day trading on Tuesday, reaching $101.65. The stock had a trading volume of 124,994 shares, compared to its average volume of 306,961. The company has a market cap of $3.86 billion, a P/E ratio of 10.64 and a beta of 1.67. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22. Boise Cascade has a 12-month low of $95.33 and a 12-month high of $155.42. The business has a 50-day simple moving average of $114.41 and a 200 day simple moving average of $128.02.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share (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 business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.57 billion. On average, sell-side analysts anticipate that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.84 annualized dividend and a dividend yield of 0.83%. Boise Cascade's dividend payout ratio is currently 8.79%.

Boise Cascade 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.