Massachusetts Financial Services Co. MA Sells 5,837 Shares of Boise Cascade (NYSE:BCC)

Massachusetts Financial Services Co. MA trimmed its holdings in shares of Boise Cascade (NYSE:BCC - Free Report) by 65.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,069 shares of the construction company's stock after selling 5,837 shares during the period. Massachusetts Financial Services Co. MA's holdings in Boise Cascade were worth $365,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. American Century Companies Inc. boosted its stake in Boise Cascade by 12.0% during 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 purchasing an additional 121,790 shares in the last quarter. Norges Bank acquired a new stake in shares of Boise Cascade in the fourth quarter valued at $55,680,000. Bank of New York Mellon Corp boosted its stake in 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 valued at $53,053,000 after buying an additional 12,963 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Boise Cascade by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 443,691 shares of the construction company's stock worth $52,737,000 after acquiring an additional 6,182 shares during the period. Finally, Principal Financial Group Inc. raised its position in Boise Cascade by 2.6% in the fourth 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. 96.18% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several research firms have recently weighed in on BCC. BMO Capital Markets reduced 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 research report on Tuesday, February 25th. The Goldman Sachs Group reduced their target price on shares of Boise Cascade from $145.00 to $126.00 and set a "neutral" rating for the company in a report on Tuesday, January 14th. DA Davidson dropped their price target on Boise Cascade from $155.00 to $125.00 and set a "buy" rating on the stock in a report on Monday, February 24th. Loop Capital decreased their target price on Boise Cascade from $140.00 to $135.00 and set a "buy" rating on the stock in a report on Monday. Finally, 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 report on Monday, February 24th. 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.com, Boise Cascade currently has an average rating of "Hold" and a consensus price target of $127.67.

Boise Cascade Stock Down 0.8 %

Shares of BCC stock traded down $0.78 on Tuesday, reaching $94.13. 44,764 shares of the company's stock traded hands, compared to its average volume of 329,756. The company has a market capitalization of $3.57 billion, a P/E ratio of 9.84 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 has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34. The business's 50 day moving average price is $104.07 and its two-hundred day moving average price is $123.61.

Boise Cascade (NYSE:BCC - Get Free Report) last released its earnings results 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 business had revenue of $1.57 billion for the quarter, compared to analysts' expectations of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. On average, equities analysts forecast that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Monday, February 24th. Boise Cascade's dividend payout ratio (DPR) is currently 8.79%.

Insider Transactions at Boise Cascade

In related news, COO Jeffrey Robert Strom sold 4,500 shares of the company'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 completion of the sale, the chief operating officer now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kristopher J. Matula sold 553 shares of the firm's stock in a transaction dated 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 owns 13,099 shares in the company, valued at approximately $1,351,292.84. This trade represents a 4.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by company insiders.

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.