Principal Financial Group Inc. Acquires 5,751 Shares of Boise Cascade, L.L.C. (NYSE:BCC)

Principal Financial Group Inc. lifted its holdings in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 214,074 shares of the construction company's stock after purchasing an additional 5,751 shares during the quarter. Principal Financial Group Inc. owned 0.56% of Boise Cascade worth $20,999,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Westwood Holdings Group Inc. increased its stake in Boise Cascade by 3.9% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,192,621 shares of the construction company's stock worth $141,755,000 after purchasing an additional 45,010 shares in the last quarter. American Century Companies Inc. increased its stake in 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 worth $134,831,000 after purchasing an additional 121,790 shares in the last quarter. First Trust Advisors LP increased its stake in Boise Cascade by 37.9% in the 4th quarter. First Trust Advisors LP now owns 712,527 shares of the construction company's stock worth $84,691,000 after purchasing an additional 195,773 shares in the last quarter. Northern Trust Corp increased its stake in Boise Cascade by 17.8% in the 4th quarter. Northern Trust Corp now owns 483,165 shares of the construction company's stock worth $57,429,000 after purchasing an additional 73,061 shares in the last quarter. Finally, Norges Bank purchased a new position in Boise Cascade in the 4th quarter worth about $55,680,000. Institutional investors own 96.18% of the company's stock.

Boise Cascade Stock Down 2.3%

Shares of BCC traded down $2.10 during midday trading on Friday, reaching $91.16. 413,069 shares of the stock were exchanged, compared to its average volume of 326,137. Boise Cascade, L.L.C. has a 12-month low of $83.60 and a 12-month high of $155.42. The firm has a 50 day simple moving average of $88.86 and a 200-day simple moving average of $102.00. The company has a quick ratio of 1.51, a current ratio of 2.82 and a debt-to-equity ratio of 0.22. The company has a market cap of $3.43 billion, a price-to-earnings ratio of 11.38, a P/E/G ratio of 4.31 and a beta of 1.34.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its quarterly 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 14.36% and a net margin of 4.72%. The firm had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.53 billion. During the same period last year, the business earned $2.61 earnings per share. The firm's revenue for the quarter was down 6.6% on a year-over-year basis. Research analysts forecast that Boise Cascade, L.L.C. will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Monday, June 2nd. Boise Cascade's payout ratio is 10.49%.

Analyst Ratings Changes

BCC has been the subject of a number of research reports. Bank of America decreased their price objective on Boise Cascade from $111.00 to $107.00 and set a "buy" rating for the company in a research report on Wednesday. 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 research report on Monday, April 14th. Finally, Truist Financial decreased their price objective on Boise Cascade from $114.00 to $106.00 and set a "buy" rating for the company in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Boise Cascade currently has an average rating of "Moderate Buy" and an average price target of $120.17.

Insider Buying and Selling

In related news, SVP Jill Twedt sold 1,200 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $88.01, for a total value of $105,612.00. Following the transaction, the senior vice president directly owned 34,649 shares of the company's stock, valued at approximately $3,049,458.49. This trade represents a 3.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joanna L. Barney sold 1,000 shares of Boise Cascade stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $87.68, for a total value of $87,680.00. Following the completion of the transaction, the executive vice president directly owned 12,372 shares in the company, valued at approximately $1,084,776.96. This represents a 7.48% 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 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.