Legal & General Group Plc Sells 5,003 Shares of Boise Cascade (NYSE:BCC)

Legal & General Group Plc reduced its position in Boise Cascade (NYSE:BCC - Free Report) by 4.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 108,957 shares of the construction company's stock after selling 5,003 shares during the quarter. Legal & General Group Plc owned about 0.28% of Boise Cascade worth $12,951,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. American Century Companies Inc. raised its holdings in shares of Boise Cascade by 12.0% during the 4th quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company's stock worth $134,831,000 after buying an additional 121,790 shares in the last quarter. Norges Bank bought a new position in Boise Cascade during the 4th quarter worth $55,680,000. Bank of New York Mellon Corp lifted its holdings in 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 worth $53,053,000 after buying an additional 12,963 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in 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 worth $52,737,000 after buying an additional 6,182 shares during the period. Finally, Invesco Ltd. grew its position in shares of Boise Cascade by 8.7% in the 4th quarter. Invesco Ltd. now owns 358,368 shares of the construction company's stock valued at $42,596,000 after buying an additional 28,814 shares during the last quarter. 96.18% of the stock is owned by institutional investors.

Boise Cascade Stock Performance

Shares of Boise Cascade stock traded down $1.93 during trading on Monday, hitting $91.55. 12,820 shares of the company's stock traded hands, compared to its average volume of 327,655. The business has a 50-day simple moving average of $101.64 and a 200-day simple moving average of $122.30. Boise Cascade has a 1 year low of $87.84 and a 1 year high of $155.42. The stock has a market capitalization of $3.48 billion, a P/E ratio of 9.58 and a beta of 1.52. 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 (NYSE:BCC - Get Free Report) last released its earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.01). The firm had revenue of $1.57 billion during the quarter, compared to analysts' expectations of $1.57 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. As a group, analysts forecast that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, February 24th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend was Monday, February 24th. Boise Cascade's dividend payout ratio (DPR) is presently 8.79%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BCC. Loop Capital cut their price objective on Boise Cascade from $140.00 to $135.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. The Goldman Sachs Group reduced their price target on shares of Boise Cascade from $145.00 to $126.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. BMO Capital Markets decreased their price objective on Boise Cascade from $136.00 to $122.00 and set a "market perform" rating for the company in a report on Tuesday, February 25th. DA Davidson dropped their price target on shares of Boise Cascade from $155.00 to $125.00 and set a "buy" rating on the stock in a research report on Monday, February 24th. Finally, Benchmark reiterated a "hold" rating on shares of Boise Cascade in a research note on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $127.67.

Insider Activity

In other news, COO Jeffrey Robert Strom sold 4,500 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total value of $450,945.00. Following the completion of the sale, the chief operating officer now owns 38,026 shares in the company, valued at approximately $3,810,585.46. This trade represents a 10.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $103.16, for a total transaction of $57,047.48. Following the completion of the sale, the director now directly owns 13,099 shares in the company, valued at $1,351,292.84. This trade represents a 4.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.11% of the company's stock.

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.