Franklin Resources Inc. Cuts Stake in Boise Cascade (NYSE:BCC)

Franklin Resources Inc. lessened its holdings in Boise Cascade (NYSE:BCC - Free Report) by 7.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,873 shares of the construction company's stock after selling 3,085 shares during the quarter. Franklin Resources Inc. owned 0.11% of Boise Cascade worth $4,858,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Norges Bank acquired a new stake in Boise Cascade in the fourth quarter valued at about $55,680,000. American Century Companies Inc. grew its position in shares of 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 buying an additional 121,790 shares during the last quarter. Barclays PLC raised its holdings in Boise Cascade by 174.1% during the 3rd quarter. Barclays PLC now owns 90,366 shares of the construction company's stock worth $12,739,000 after purchasing an additional 57,403 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Boise Cascade in the fourth quarter valued at $5,777,000. Finally, World Investment Advisors LLC bought a new stake in shares of Boise Cascade during the 3rd quarter valued at about $3,995,000. Institutional investors and hedge funds own 96.18% of the company's stock.

Insider Activity

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

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Analysts Set New Price Targets

Several analysts have recently commented on BCC shares. Truist Financial reduced their target price on Boise Cascade from $157.00 to $134.00 and set a "buy" rating for the company in a research note on Monday, February 24th. 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. BMO Capital Markets cut their price objective 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. DA Davidson cut their target price on Boise Cascade from $155.00 to $125.00 and set a "buy" rating for the company in a research note on Monday, February 24th. Finally, Loop Capital lowered their target price on shares of Boise Cascade from $140.00 to $135.00 and set a "buy" rating on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $127.67.

Boise Cascade Price Performance

BCC stock traded down $1.18 during mid-day trading on Wednesday, hitting $92.69. 29,999 shares of the stock were exchanged, compared to its average volume of 329,123. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 9.68 and a beta of 1.52. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92. Boise Cascade has a 12 month low of $87.84 and a 12 month high of $155.42. The business has a fifty day moving average price of $103.44 and a 200 day moving average price of $123.40.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.01). The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. On average, sell-side analysts anticipate that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The business also recently announced 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 was Monday, February 24th. This represents a $0.84 annualized dividend and a dividend yield of 0.91%. Boise Cascade's dividend payout ratio is 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.