Bank of Montreal Can Sells 118,791 Shares of Boise Cascade (NYSE:BCC)

Bank of Montreal Can trimmed its stake in Boise Cascade (NYSE:BCC - Free Report) by 93.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,768 shares of the construction company's stock after selling 118,791 shares during the quarter. Bank of Montreal Can's holdings in Boise Cascade were worth $923,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of BCC. Tidal Investments LLC raised its holdings in Boise Cascade by 341.9% in the 3rd quarter. Tidal Investments LLC now owns 15,808 shares of the construction company's stock worth $2,229,000 after acquiring an additional 12,231 shares during the last quarter. Fulcrum Capital LLC bought a new stake in shares of Boise Cascade in the 4th quarter worth $1,092,000. D.A. Davidson & CO. raised its stake in shares of Boise Cascade by 4.2% in the fourth quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company's stock worth $388,000 after purchasing an additional 133 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Boise Cascade by 5.0% during the fourth quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company's stock valued at $14,454,000 after purchasing an additional 5,779 shares in the last quarter. Finally, Barclays PLC increased its holdings in Boise Cascade by 174.1% in the 3rd quarter. Barclays PLC now owns 90,366 shares of the construction company's stock worth $12,739,000 after buying an additional 57,403 shares in the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Stock Performance

Shares of BCC stock traded up $1.57 during mid-day trading on Thursday, reaching $94.90. 29,923 shares of the company's stock traded hands, compared to its average volume of 327,035. 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 firm has a market capitalization of $3.61 billion, a PE ratio of 9.93 and a beta of 1.52. Boise Cascade has a 12 month low of $87.84 and a 12 month high of $155.42. The firm has a 50 day moving average price of $99.96 and a two-hundred day moving average price of $121.57.

Boise Cascade (NYSE:BCC - Get Free Report) last released its quarterly earnings results 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). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion. On average, research analysts forecast that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.89%. The ex-dividend date was Monday, February 24th. Boise Cascade's dividend payout ratio is currently 8.79%.

Insiders Place Their Bets

In other news, COO Jeffrey Robert Strom sold 4,500 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $3,810,585.46. This represents a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kristopher J. Matula sold 553 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total value of $57,047.48. Following the sale, the director now 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 disclosure for this sale can be found here. Company insiders own 0.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BCC shares. BMO Capital Markets dropped their price target on shares of Boise Cascade from $136.00 to $122.00 and set a "market perform" rating on the stock in a report on Tuesday, February 25th. Benchmark restated a "hold" rating on shares of Boise Cascade in a report on Tuesday, February 25th. Truist Financial decreased their target price on shares of Boise Cascade from $134.00 to $118.00 and set a "buy" rating for the company in a research note on Tuesday. The Goldman Sachs Group dropped their price target on Boise Cascade from $145.00 to $126.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 14th. Finally, DA Davidson cut their price objective on Boise Cascade from $155.00 to $125.00 and set a "buy" rating for the company in a report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Boise Cascade has an average rating of "Hold" and an average target price of $125.00.

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.