Wellington Management Group LLP Sells 86,105 Shares of Boise Cascade (NYSE:BCC)

Wellington Management Group LLP trimmed its position in Boise Cascade (NYSE:BCC - Free Report) by 3.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,594,339 shares of the construction company's stock after selling 86,105 shares during the period. Wellington Management Group LLP owned about 6.84% of Boise Cascade worth $308,363,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. American Century Companies Inc. raised its position in shares of Boise Cascade by 12.0% during the fourth quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company's stock worth $134,831,000 after purchasing an additional 121,790 shares during the period. Norges Bank acquired a new stake in shares of Boise Cascade in the 4th quarter valued at about $55,680,000. Bank of New York Mellon Corp boosted its position in shares of Boise Cascade by 3.0% during the fourth quarter. Bank of New York Mellon Corp now owns 446,350 shares of the construction company's stock worth $53,053,000 after buying an additional 12,963 shares during the period. Charles Schwab Investment Management Inc. lifted its stake 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 in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Boise Cascade by 2.6% during the 4th quarter. Principal Financial Group Inc. now owns 208,323 shares of the construction company's stock worth $24,761,000 after acquiring an additional 5,281 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company's stock.

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Insider Buying and Selling

In related news, Director Kristopher J. Matula sold 553 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The shares were 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 represents a 4.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey Robert Strom sold 4,500 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total transaction of $450,945.00. Following the transaction, the chief operating officer now owns 38,026 shares of the company's stock, 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 owned by company insiders.

Boise Cascade Stock Performance

BCC traded up $0.75 on Friday, reaching $95.38. The company had a trading volume of 827,560 shares, compared to its average volume of 327,322. The company's fifty day moving average is $109.24 and its 200 day moving average is $126.25. 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 stock has a market cap of $3.62 billion, a P/E ratio of 9.98 and a beta of 1.67. Boise Cascade has a fifty-two week low of $89.59 and a fifty-two week high of $155.42.

Boise Cascade (NYSE:BCC - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing the consensus estimate 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, analysts predict that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Monday, February 24th. Boise Cascade's dividend payout ratio (DPR) is currently 8.79%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BCC. The Goldman Sachs Group reduced their price objective on shares of Boise Cascade from $145.00 to $126.00 and set a "neutral" rating for the company in a research note 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 research note on Monday, February 24th. Benchmark reissued a "hold" rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Loop Capital cut their price target on shares of Boise Cascade from $145.00 to $140.00 and set a "buy" rating for the company in a research note on Monday, February 24th. Finally, DA Davidson dropped their target price on shares of Boise Cascade from $155.00 to $125.00 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 given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price 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.