Boise Cascade (NYSE:BCC) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC decreased its holdings in Boise Cascade (NYSE:BCC - Free Report) by 1.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 999,670 shares of the construction company's stock after selling 12,321 shares during the quarter. Geode Capital Management LLC owned about 2.60% of Boise Cascade worth $118,845,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Boise Cascade by 158.9% in the third quarter. FMR LLC now owns 126,123 shares of the construction company's stock worth $17,781,000 after buying an additional 77,401 shares during the last quarter. Orion Portfolio Solutions LLC raised its stake in Boise Cascade by 8.9% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 2,023 shares of the construction company's stock worth $285,000 after acquiring an additional 165 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Boise Cascade during the 3rd quarter worth about $690,000. Nomura Asset Management Co. Ltd. grew its stake in Boise Cascade by 234.2% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,270 shares of the construction company's stock valued at $179,000 after purchasing an additional 890 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Boise Cascade by 174.1% in the third quarter. Barclays PLC now owns 90,366 shares of the construction company's stock valued at $12,739,000 after purchasing an additional 57,403 shares during the period. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of the firm'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 value of $57,047.48. Following the transaction, the director now directly 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 document filed with the SEC, which is available through this hyperlink. Also, COO Jeffrey Robert Strom sold 4,500 shares of the business's 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 transaction, the chief operating officer now directly owns 38,026 shares in the company, valued at $3,810,585.46. This trade represents a 10.58 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BCC. Truist Financial dropped their target price on Boise Cascade from $157.00 to $134.00 and set a "buy" rating on the stock in a research report on Monday, February 24th. The Goldman Sachs Group cut their price objective on shares of Boise Cascade from $145.00 to $126.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 14th. Loop Capital decreased their target price on shares of Boise Cascade from $145.00 to $140.00 and set a "buy" rating for the company in a research report on Monday, February 24th. Benchmark reaffirmed a "hold" rating on shares of Boise Cascade in a research report on Tuesday, February 25th. Finally, DA Davidson decreased 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 analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $128.50.

Boise Cascade Price Performance

Shares of NYSE:BCC traded down $0.61 during trading on Monday, reaching $95.05. 11,342 shares of the company's stock traded hands, compared to its average volume of 329,823. The firm has a market cap of $3.61 billion, a PE ratio of 9.94 and a beta of 1.52. Boise Cascade has a fifty-two week low of $87.84 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. The company has a 50-day simple moving average of $104.66 and a 200-day simple moving average of $123.94.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.57 billion. As a group, analysts predict that Boise Cascade will post 10.15 earnings per share for the current 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 paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.88%. Boise Cascade's dividend payout ratio is currently 8.79%.

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.