Moran Wealth Management LLC Buys 12,773 Shares of Boise Cascade (NYSE:BCC)

Moran Wealth Management LLC lifted its stake in Boise Cascade (NYSE:BCC - Free Report) by 47.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,420 shares of the construction company's stock after buying an additional 12,773 shares during the period. Moran Wealth Management LLC owned approximately 0.10% of Boise Cascade worth $4,685,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BCC. Bank of New York Mellon Corp boosted its stake in shares of Boise Cascade by 3.0% during the 4th 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 during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Boise Cascade by 1.4% during 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. Principal Financial Group Inc. lifted its stake in Boise Cascade by 2.6% during the fourth quarter. Principal Financial Group Inc. now owns 208,323 shares of the construction company's stock worth $24,761,000 after purchasing an additional 5,281 shares during the last quarter. Bank of Montreal Can increased its stake in Boise Cascade by 1,597.4% during the third quarter. Bank of Montreal Can now owns 126,559 shares of the construction company's stock valued at $17,907,000 after purchasing an additional 119,103 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Boise Cascade by 158.9% in the 3rd quarter. FMR LLC now owns 126,123 shares of the construction company's stock valued at $17,781,000 after buying an additional 77,401 shares during the period. Hedge funds and other institutional investors own 96.18% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BCC shares. BMO Capital Markets reduced their price objective on 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. Truist Financial reduced their target price 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. The Goldman Sachs Group dropped their price target 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. Benchmark reaffirmed a "hold" rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Finally, Loop Capital dropped their price target on shares of Boise Cascade from $145.00 to $140.00 and set a "buy" rating on the stock in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $128.50.

Insiders Place Their Bets

In other Boise Cascade news, COO Jeffrey Robert Strom sold 4,500 shares of the company's stock in a transaction that occurred 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kristopher J. Matula sold 553 shares of Boise Cascade 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 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 disclosure for this sale can be found here. Corporate insiders own 1.05% of the company's stock.

Boise Cascade Price Performance

Shares of BCC traded up $2.91 during trading hours on Friday, hitting $99.29. 243,636 shares of the company were exchanged, compared to its average volume of 343,719. The firm has a fifty day simple moving average of $116.93 and a 200-day simple moving average of $129.60. The company has a market capitalization of $3.77 billion, a PE ratio of 10.39 and a beta of 1.67. 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 one year low of $95.33 and a one year high of $155.42.

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

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, February 24th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Monday, February 24th. Boise Cascade's dividend payout ratio is 8.79%.

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.