Bank of New York Mellon Corp Lowers Stock Holdings in Boise Cascade, L.L.C. (NYSE:BCC)

Bank of New York Mellon Corp reduced its stake in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 15.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 377,520 shares of the construction company's stock after selling 68,830 shares during the period. Bank of New York Mellon Corp owned approximately 0.99% of Boise Cascade worth $37,031,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of BCC. Quarry LP increased its holdings in Boise Cascade by 502.4% in the 4th quarter. Quarry LP now owns 253 shares of the construction company's stock valued at $30,000 after acquiring an additional 211 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Boise Cascade by 338.5% in the 1st quarter. Farther Finance Advisors LLC now owns 478 shares of the construction company's stock valued at $47,000 after acquiring an additional 369 shares during the last quarter. Blue Trust Inc. increased its holdings in Boise Cascade by 93.7% in the 1st quarter. Blue Trust Inc. now owns 918 shares of the construction company's stock valued at $90,000 after acquiring an additional 444 shares during the last quarter. Curat Global LLC bought a new stake in Boise Cascade in the 1st quarter valued at $122,000. Finally, GAMMA Investing LLC increased its holdings in Boise Cascade by 60.6% in the 1st quarter. GAMMA Investing LLC now owns 1,458 shares of the construction company's stock valued at $143,000 after acquiring an additional 550 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on BCC shares. Loop Capital reduced their price target on shares of Boise Cascade from $140.00 to $135.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Bank of America reduced their target price on shares of Boise Cascade from $111.00 to $107.00 and set a "buy" rating on the stock in a report on Wednesday, July 9th. Truist Financial reduced their target price on shares of Boise Cascade from $114.00 to $106.00 and set a "buy" rating on the stock in a report on Tuesday, July 8th. Finally, DA Davidson reduced their target price on shares of Boise Cascade from $115.00 to $100.00 and set a "buy" rating on the stock in a report on Friday. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $116.00.

Boise Cascade Trading Down 3.4%

NYSE:BCC traded down $2.95 during mid-day trading on Friday, hitting $83.77. 199,865 shares of the stock traded hands, compared to its average volume of 325,483. The company has a quick ratio of 1.51, a current ratio of 2.82 and a debt-to-equity ratio of 0.22. Boise Cascade, L.L.C. has a 52 week low of $83.60 and a 52 week high of $155.42. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of 10.46, a PEG ratio of 3.98 and a beta of 1.34. The firm's 50 day moving average is $88.70 and its two-hundred day moving average is $101.05.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The construction company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.30). The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Boise Cascade had a return on equity of 14.36% and a net margin of 4.72%. The firm's revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.61 EPS. On average, equities research analysts predict that Boise Cascade, L.L.C. will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Monday, June 2nd. Boise Cascade's payout ratio is currently 10.49%.

Insider Activity

In other Boise Cascade news, EVP Joanna L. Barney sold 1,000 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $87.68, for a total value of $87,680.00. Following the completion of the sale, the executive vice president owned 12,372 shares of the company's stock, valued at $1,084,776.96. This trade represents a 7.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jill Twedt sold 1,200 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $88.01, for a total transaction of $105,612.00. Following the completion of the sale, the senior vice president directly owned 34,649 shares of the company's stock, valued at approximately $3,049,458.49. The trade was a 3.35% decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is owned by company insiders.

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.