Victory Capital Management Inc. Sells 5,863 Shares of Boise Cascade (NYSE:BCC)

Victory Capital Management Inc. lowered its stake in Boise Cascade (NYSE:BCC - Free Report) by 7.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,949 shares of the construction company's stock after selling 5,863 shares during the quarter. Victory Capital Management Inc. owned about 0.19% of Boise Cascade worth $8,790,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. R Squared Ltd purchased a new position in shares of Boise Cascade in the 4th quarter worth approximately $29,000. Larson Financial Group LLC lifted its stake in Boise Cascade by 23.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the construction company's stock worth $53,000 after acquiring an additional 73 shares during the period. Principal Securities Inc. lifted its position in shares of Boise Cascade by 44.2% in the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company's stock worth $56,000 after purchasing an additional 145 shares during the period. Smartleaf Asset Management LLC boosted its position in Boise Cascade by 254.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company's stock valued at $92,000 after acquiring an additional 558 shares in the last quarter. Finally, KBC Group NV boosted its position in Boise Cascade by 19.0% during the third quarter. KBC Group NV now owns 1,226 shares of the construction company's stock valued at $173,000 after purchasing an additional 196 shares in the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on BCC. Truist Financial decreased their price objective on shares of Boise Cascade from $157.00 to $134.00 and set a "buy" rating for the company in a research report on Monday, February 24th. The Goldman Sachs Group decreased their target price on shares of Boise Cascade from $145.00 to $126.00 and set a "neutral" rating for the company in a research note on Tuesday, January 14th. BMO Capital Markets lowered their price target on Boise Cascade from $136.00 to $122.00 and set a "market perform" rating on the stock in a research report on Tuesday, February 25th. Loop Capital cut their target price on shares of Boise Cascade from $145.00 to $140.00 and set a "buy" rating for the company in a research note on Monday, February 24th. Finally, DA Davidson reduced their price objective on Boise Cascade from $155.00 to $125.00 and set a "buy" rating for the company in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $128.50.

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Insider Buying and Selling at Boise Cascade

In other news, COO Jeffrey Robert Strom sold 4,500 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total transaction of $450,945.00. Following the completion of the transaction, the chief operating officer now directly owns 38,026 shares of the company's stock, valued at approximately $3,810,585.46. The trade was a 10.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kristopher J. Matula sold 553 shares of the 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 completion of the transaction, the director now owns 13,099 shares in the company, valued at approximately $1,351,292.84. The trade was a 4.05 % decrease in their position. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by corporate insiders.

Boise Cascade Stock Down 2.1 %

Shares of NYSE:BCC opened at $96.19 on Friday. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of 10.06 and a beta of 1.67. Boise Cascade has a 12-month low of $95.33 and a 12-month high of $155.42. The business has a 50-day moving average price of $117.35 and a 200 day moving average price of $129.84. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 EPS 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 firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.57 billion. Sell-side analysts expect that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.87%. The ex-dividend date is Monday, February 24th. Boise Cascade's dividend payout ratio is currently 8.79%.

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.

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