Principal Financial Group Inc. Acquires 5,281 Shares of Boise Cascade (NYSE:BCC)

Principal Financial Group Inc. boosted its position in Boise Cascade (NYSE:BCC - Free Report) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 208,323 shares of the construction company's stock after buying an additional 5,281 shares during the quarter. Principal Financial Group Inc. owned approximately 0.54% of Boise Cascade worth $24,761,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in BCC. Creative Planning boosted its position in Boise Cascade by 17.9% during the 3rd quarter. Creative Planning now owns 8,596 shares of the construction company's stock worth $1,212,000 after acquiring an additional 1,302 shares during the period. Sequoia Financial Advisors LLC grew its stake in Boise Cascade by 4.6% during the third quarter. Sequoia Financial Advisors LLC now owns 1,757 shares of the construction company's stock worth $248,000 after buying an additional 78 shares during the last quarter. Highland Capital Management LLC bought a new stake in Boise Cascade during the 3rd quarter worth about $215,000. DekaBank Deutsche Girozentrale grew its holdings in Boise Cascade by 14.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 57,778 shares of the construction company's stock valued at $8,107,000 after purchasing an additional 7,421 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Boise Cascade by 59.9% in the third quarter. Nisa Investment Advisors LLC now owns 11,390 shares of the construction company's stock valued at $1,606,000 after purchasing an additional 4,267 shares in the last quarter. Institutional investors own 96.18% of the company's stock.

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Boise Cascade Price Performance

Shares of BCC stock traded down $1.36 during trading hours on Thursday, reaching $102.71. The company had a trading volume of 475,944 shares, compared to its average volume of 323,727. Boise Cascade has a 12-month low of $102.17 and a 12-month high of $155.42. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 10.74 and a beta of 1.57. The stock has a fifty day moving average of $121.52 and a 200-day moving average of $131.84. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its earnings results on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.01). The business had revenue of $1.57 billion during 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 anticipate that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th will be issued a $0.21 dividend. The ex-dividend date is Monday, February 24th. This represents a $0.84 annualized dividend and a yield of 0.82%. Boise Cascade's dividend payout ratio (DPR) is presently 8.79%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BCC shares. StockNews.com downgraded Boise Cascade from a "buy" rating to a "hold" rating in a research report on Wednesday, November 6th. BMO Capital Markets decreased 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 research report on Tuesday. Benchmark restated a "hold" rating on shares of Boise Cascade in a report on Tuesday. Loop Capital dropped their price objective on shares of Boise Cascade from $145.00 to $140.00 and set a "buy" rating on the stock in a research note on Monday. Finally, Truist Financial lowered their price objective on shares of Boise Cascade from $157.00 to $134.00 and set a "buy" rating on the stock in a research report on Monday. One research 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's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $128.50.

Insider Transactions at Boise Cascade

In related 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 completion of the transaction, the director now owns 13,099 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. Insiders own 0.98% of the company's stock.

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.