Boise Cascade (NYSE:BCC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in Boise Cascade (NYSE:BCC - Free Report) by 4.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 203,042 shares of the construction company's stock after selling 8,600 shares during the quarter. Principal Financial Group Inc. owned 0.51% of Boise Cascade worth $28,625,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in shares of Boise Cascade by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,813,447 shares of the construction company's stock valued at $335,419,000 after buying an additional 22,053 shares during the period. Westwood Holdings Group Inc. lifted its stake in Boise Cascade by 107.7% during the second quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company's stock worth $133,278,000 after purchasing an additional 579,759 shares during the last quarter. American Century Companies Inc. lifted its stake in Boise Cascade by 2.4% during the second quarter. American Century Companies Inc. now owns 897,137 shares of the construction company's stock worth $106,957,000 after purchasing an additional 21,030 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake in Boise Cascade by 46.0% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company's stock worth $45,661,000 after purchasing an additional 120,600 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Boise Cascade by 293.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 236,980 shares of the construction company's stock worth $36,346,000 after purchasing an additional 176,738 shares during the last quarter. Hedge funds and other institutional investors own 96.18% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BCC shares. BMO Capital Markets boosted their target price on Boise Cascade from $130.00 to $136.00 and gave the stock a "market perform" rating in a research note on Tuesday, October 22nd. StockNews.com lowered Boise Cascade from a "buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Truist Financial boosted their target price on Boise Cascade from $154.00 to $161.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. Loop Capital initiated coverage on Boise Cascade in a research report on Friday, November 1st. They set a "buy" rating and a $155.00 target price on the stock. Finally, Bank of America upped their target price on Boise Cascade from $120.00 to $124.00 and gave the company an "underperform" rating in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $139.60.

Boise Cascade Stock Performance

BCC traded up $3.22 during trading hours on Wednesday, hitting $144.35. The company's stock had a trading volume of 67,661 shares, compared to its average volume of 265,473. Boise Cascade has a fifty-two week low of $106.38 and a fifty-two week high of $154.67. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $5.54 billion, a PE ratio of 14.12 and a beta of 1.53. The company has a 50-day simple moving average of $137.00 and a 200 day simple moving average of $132.66.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its earnings results on Monday, November 4th. The construction company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.04). Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the business earned $3.58 earnings per share. The firm's revenue was down 6.6% compared to the same quarter last year. As a group, sell-side analysts expect that Boise Cascade will post 9.57 EPS for the current year.

Boise Cascade Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.58%. The ex-dividend date is Monday, December 2nd. Boise Cascade's dividend payout ratio is currently 8.22%.

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.