Envestnet Asset Management Inc. Boosts Stock Position in Boise Cascade (NYSE:BCC)

Envestnet Asset Management Inc. increased its holdings in shares of Boise Cascade (NYSE:BCC - Free Report) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,715 shares of the construction company's stock after purchasing an additional 8,357 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.35% of Boise Cascade worth $16,012,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Boise Cascade during the fourth quarter valued at approximately $55,680,000. American Century Companies Inc. increased its holdings in Boise Cascade by 12.0% in the 4th quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company's stock valued at $134,831,000 after acquiring an additional 121,790 shares during the last quarter. 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 valued at $12,739,000 after acquiring an additional 57,403 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Boise Cascade in the 4th quarter worth $5,777,000. Finally, Trexquant Investment LP purchased a new position in shares of Boise Cascade during the fourth quarter valued at about $5,705,000. Institutional investors own 96.18% of the company's stock.

Insider Buying and Selling

In other news, Director Kristopher J. Matula sold 553 shares of the 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 transaction, the director now owns 13,099 shares of the company's stock, valued at approximately $1,351,292.84. This represents a 4.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jeffrey Robert Strom sold 4,500 shares of the stock in a transaction dated 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 in the company, valued at approximately $3,810,585.46. The trade was a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.11% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on BCC shares. The Goldman Sachs Group decreased their target price on Boise Cascade from $145.00 to $126.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 14th. Loop Capital lowered their target price on Boise Cascade from $140.00 to $135.00 and set a "buy" rating for the company in a research report on Monday, April 14th. BMO Capital Markets cut their target price 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. Benchmark reaffirmed a "hold" rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Finally, Truist Financial dropped their price objective on shares of Boise Cascade from $157.00 to $134.00 and set a "buy" rating for the company in a research note on Monday, February 24th. One 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 stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $127.67.

Boise Cascade Trading Up 0.7 %

Shares of BCC stock traded up $0.68 during trading hours on Friday, reaching $93.37. 205,893 shares of the stock were exchanged, compared to its average volume of 328,909. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 9.77 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 company's 50-day moving average price is $101.64 and its 200-day moving average price is $122.30. 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 (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 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 business had revenue of $1.57 billion for the quarter, compared to analysts' expectations of $1.57 billion. As a group, equities analysts anticipate that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Monday, February 24th. Boise Cascade's payout ratio is presently 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.