Man Group plc Sells 11,304 Shares of Boise Cascade (NYSE:BCC)

Man Group plc decreased its holdings in shares of Boise Cascade (NYSE:BCC - Free Report) by 16.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,231 shares of the construction company's stock after selling 11,304 shares during the quarter. Man Group plc owned about 0.15% of Boise Cascade worth $6,921,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. D.A. Davidson & CO. boosted its position in shares of Boise Cascade by 4.2% during the fourth quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company's stock worth $388,000 after buying an additional 133 shares during the period. Barclays PLC raised its stake in Boise Cascade by 174.1% during the 3rd quarter. Barclays PLC now owns 90,366 shares of the construction company's stock valued at $12,739,000 after purchasing an additional 57,403 shares during the period. Bank of New York Mellon Corp grew its position in Boise Cascade by 3.0% during the fourth quarter. Bank of New York Mellon Corp now owns 446,350 shares of the construction company's stock valued at $53,053,000 after purchasing an additional 12,963 shares in the last quarter. Handelsbanken Fonder AB grew its position in Boise Cascade by 19.4% in the fourth quarter. Handelsbanken Fonder AB now owns 8,000 shares of the construction company's stock worth $951,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Boise Cascade by 2.6% during the fourth quarter. Principal Financial Group Inc. now owns 208,323 shares of the construction company's stock valued at $24,761,000 after purchasing an additional 5,281 shares during the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Boise Cascade

In related news, Director Kristopher J. Matula sold 553 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were 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 owns 13,099 shares of the company's stock, valued at $1,351,292.84. This trade represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey Robert Strom sold 4,500 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total value of $450,945.00. Following the completion of the transaction, the chief operating officer now owns 38,026 shares of the company's stock, valued at $3,810,585.46. The trade was a 10.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by company insiders.

Boise Cascade Trading Down 0.9%

Shares of NYSE:BCC traded down $0.81 during midday trading on Friday, hitting $86.52. 251,285 shares of the stock were exchanged, compared to its average volume of 327,741. The business's 50-day moving average price is $94.19 and its 200 day moving average price is $114.07. Boise Cascade has a 12 month low of $84.53 and a 12 month high of $155.42. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 9.05 and a beta of 1.43.

Boise Cascade (NYSE:BCC - Get Free Report) last posted 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 net margin of 5.60% and a return on equity of 17.04%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the business earned $2.61 EPS. The firm's revenue for the quarter was down 6.6% compared to the same quarter last year. Analysts predict that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

The firm 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 dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Monday, June 2nd. Boise Cascade's dividend payout ratio is 10.49%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BCC. 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. DA Davidson decreased their target price on Boise Cascade from $155.00 to $125.00 and set a "buy" rating for the company in a research report on Monday, February 24th. Benchmark reaffirmed a "hold" rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Truist Financial lowered their target price on Boise Cascade from $134.00 to $118.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Loop Capital decreased their target price on Boise Cascade from $140.00 to $135.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $125.00.

About Boise Cascade

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.