ProShare Advisors LLC Purchases 3,481 Shares of Boise Cascade (NYSE:BCC)

ProShare Advisors LLC increased its position in Boise Cascade (NYSE:BCC - Free Report) by 42.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,730 shares of the construction company's stock after buying an additional 3,481 shares during the period. ProShare Advisors LLC's holdings in Boise Cascade were worth $1,394,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in BCC. Norges Bank acquired a new stake in shares of Boise Cascade in the 4th quarter valued at about $55,680,000. First Trust Advisors LP grew its stake in shares of Boise Cascade by 37.9% in the 4th quarter. First Trust Advisors LP now owns 712,527 shares of the construction company's stock valued at $84,691,000 after buying an additional 195,773 shares during the period. American Century Companies Inc. grew its stake in shares of Boise Cascade by 12.0% in the 4th quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company's stock valued at $134,831,000 after buying an additional 121,790 shares during the period. Rockefeller Capital Management L.P. grew its stake in shares of Boise Cascade by 322.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 109,770 shares of the construction company's stock valued at $13,048,000 after buying an additional 83,776 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Boise Cascade by 17.8% in the 4th quarter. Northern Trust Corp now owns 483,165 shares of the construction company's stock valued at $57,429,000 after buying an additional 73,061 shares during the period. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BCC has been the subject of a number of recent research reports. DA Davidson decreased their price objective on Boise Cascade from $155.00 to $125.00 and set a "buy" rating for the company in a report on Monday, February 24th. Truist Financial decreased their price objective on Boise Cascade from $134.00 to $118.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Benchmark reissued a "hold" rating on shares of Boise Cascade in a report on Tuesday, February 25th. Loop Capital decreased their price objective on Boise Cascade from $140.00 to $135.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Boise Cascade currently has an average rating of "Hold" and a consensus price target of $125.00.

Boise Cascade Stock Performance

Shares of NYSE BCC traded up $1.64 during midday trading on Tuesday, reaching $88.20. The company's stock had a trading volume of 32,029 shares, compared to its average volume of 326,571. Boise Cascade has a 12-month low of $84.53 and a 12-month high of $155.42. The firm has a 50 day moving average price of $93.91 and a 200-day moving average price of $113.68. The stock has a market capitalization of $3.32 billion, a P/E ratio of 9.24 and a beta of 1.43. 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 announced its earnings results on Monday, May 5th. The construction company reported $1.06 earnings per share for the quarter, missing analysts' consensus estimates of $1.36 by ($0.30). Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. The business had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.53 billion. During the same quarter in the previous year, the firm earned $2.61 EPS. Boise Cascade's quarterly revenue was down 6.6% on a year-over-year basis. As a group, equities analysts predict that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, June 2nd will be paid a $0.21 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.84 annualized dividend and a yield of 0.95%. Boise Cascade's payout ratio is 10.49%.

Insider Activity at Boise Cascade

In other Boise Cascade news, COO Jeffrey Robert Strom sold 4,500 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total transaction of $450,945.00. Following the sale, the chief operating officer now owns 38,026 shares in the company, valued at $3,810,585.46. This represents a 10.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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.