Principal Financial Group Inc. Sells 8,600 Shares of Boise Cascade (NYSE:BCC)

Principal Financial Group Inc. reduced its stake in Boise Cascade (NYSE:BCC - Free Report) by 4.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,042 shares of the construction company's stock after selling 8,600 shares during the period. Principal Financial Group Inc. owned 0.53% of Boise Cascade worth $28,625,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BCC. Westwood Holdings Group Inc. lifted its holdings in shares of Boise Cascade by 107.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company's stock valued at $133,278,000 after buying an additional 579,759 shares during the period. Marshall Wace LLP increased its stake in Boise Cascade by 2,978.4% in the 2nd quarter. Marshall Wace LLP now owns 191,047 shares of the construction company's stock worth $22,777,000 after acquiring an additional 184,841 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Boise Cascade by 46.0% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company's stock valued at $45,661,000 after acquiring an additional 120,600 shares during the last quarter. Bank of Montreal Can lifted its position in Boise Cascade by 1,597.4% in the third quarter. Bank of Montreal Can now owns 126,559 shares of the construction company's stock worth $17,907,000 after buying an additional 119,103 shares during the last quarter. Finally, FMR LLC boosted its position in shares of Boise Cascade by 158.9% during the third 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. Institutional investors own 96.18% of the company's stock.

Analyst Upgrades and Downgrades

BCC has been the topic of several recent research reports. Bank of America increased their target price on Boise Cascade from $120.00 to $124.00 and gave the company an "underperform" rating in a research report on Thursday, September 12th. BMO Capital Markets boosted their target price on shares of Boise Cascade from $130.00 to $136.00 and gave the company a "market perform" rating in a research note on Tuesday, October 22nd. Loop Capital began coverage on shares of Boise Cascade in a report on Friday, November 1st. They set a "buy" rating and a $155.00 price objective on the stock. Truist Financial upped their price objective on shares of Boise Cascade from $154.00 to $161.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. Finally, StockNews.com downgraded shares of Boise Cascade from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. 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's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $139.60.

Boise Cascade Stock Up 0.8 %

NYSE:BCC traded up $0.95 during mid-day trading on Wednesday, hitting $123.19. The company had a trading volume of 179,711 shares, compared to its average volume of 307,081. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of 12.05 and a beta of 1.53. The business has a fifty day simple moving average of $139.04 and a 200-day simple moving average of $133.54. Boise Cascade has a 1 year low of $113.89 and a 1 year high of $155.42. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22.

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

Boise Cascade Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 0.68%. Boise Cascade's payout ratio is 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.