Bank of New York Mellon Corp Acquires 12,963 Shares of Boise Cascade (NYSE:BCC)

Bank of New York Mellon Corp raised its holdings in Boise Cascade (NYSE:BCC - Free Report) by 3.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 446,350 shares of the construction company's stock after buying an additional 12,963 shares during the period. Bank of New York Mellon Corp owned about 1.16% of Boise Cascade worth $53,053,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Harbor Capital Advisors Inc. bought a new position in shares of Boise Cascade during the third quarter worth approximately $28,000. Van ECK Associates Corp increased its stake in shares of Boise Cascade by 40.0% during the third quarter. Van ECK Associates Corp now owns 24,415 shares of the construction company's stock worth $3,269,000 after purchasing an additional 6,975 shares during the period. QRG Capital Management Inc. increased its stake in shares of Boise Cascade by 2.5% during the third quarter. QRG Capital Management Inc. now owns 31,495 shares of the construction company's stock worth $4,440,000 after purchasing an additional 780 shares during the period. Assetmark Inc. increased its stake in shares of Boise Cascade by 10.1% during the third quarter. Assetmark Inc. now owns 54,522 shares of the construction company's stock worth $7,687,000 after purchasing an additional 5,019 shares during the period. Finally, Covestor Ltd increased its stake in shares of Boise Cascade by 50.1% during the third quarter. Covestor Ltd now owns 689 shares of the construction company's stock worth $97,000 after purchasing an additional 230 shares during the period. Institutional investors own 96.18% of the company's stock.

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Boise Cascade Price Performance

Shares of BCC stock traded up $0.92 during trading hours on Friday, reaching $101.71. The company's stock had a trading volume of 387,897 shares, compared to its average volume of 337,609. The firm's 50 day simple moving average is $118.56 and its 200-day simple moving average is $130.57. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 10.64 and a beta of 1.67. Boise Cascade has a fifty-two week low of $97.21 and a fifty-two week 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.

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%. Sell-side analysts forecast that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Monday, February 24th. Boise Cascade's dividend payout ratio is presently 8.79%.

Insider Buying and Selling at Boise Cascade

In related news, Director Kristopher J. Matula sold 553 shares of the firm's stock in a transaction 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 sale, the director now 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Jeffrey Robert Strom sold 4,500 shares of the firm's stock in a transaction 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 in the company, valued at approximately $3,810,585.46. This trade represents a 10.58 % 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

BCC has been the topic of a number of recent research reports. 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 research note on Monday, February 24th. BMO Capital Markets lowered their target price on Boise Cascade from $136.00 to $122.00 and set a "market perform" rating on the stock in a research note on Tuesday, February 25th. Loop Capital lowered their target price 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. Benchmark restated a "hold" rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Finally, The Goldman Sachs Group lowered their price objective 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. 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. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $128.50.

About Boise Cascade

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.