Principal Financial Group Inc. Has $21 Million Stock Holdings in Boise Cascade, L.L.C. (NYSE:BCC)

Principal Financial Group Inc. increased its position in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 2.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 approximately 0.56% of Boise Cascade worth $20,999,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of BCC. Quarry LP raised 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 period. Farther Finance Advisors LLC raised 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 period. Blue Trust Inc. raised 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 period. Curat Global LLC bought a new position in Boise Cascade in the 1st quarter valued at about $122,000. Finally, GAMMA Investing LLC raised 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 period. 96.18% of the stock is owned by institutional investors.

Boise Cascade Stock Performance

Shares of NYSE:BCC traded down $2.10 on Friday, reaching $91.16. 413,069 shares of the company's stock were exchanged, compared to its average volume of 325,995. The company has a fifty day moving average of $88.86 and a 200-day moving average of $101.70. Boise Cascade, L.L.C. has a twelve month low of $83.60 and a twelve month high of $155.42. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 4.22 and a beta of 1.34. The company has a current ratio of 2.82, a quick ratio of 1.51 and a debt-to-equity ratio of 0.22.

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 (EPS) 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 business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the company earned $2.61 EPS. The business's revenue for the quarter was down 6.6% on a year-over-year basis. On average, research analysts predict that Boise Cascade, L.L.C. will post 10.15 EPS for the current fiscal year.

Boise Cascade Announces Dividend

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

Analyst Ratings Changes

Several research analysts have weighed in on BCC shares. Loop Capital lowered 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. Truist Financial lowered their price target 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, Bank of America lowered their price target on shares of Boise Cascade from $111.00 to $107.00 and set a "buy" rating on the stock in a report on Wednesday. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $120.17.

Insider Activity at Boise Cascade

In related news, EVP Joanna L. Barney sold 1,000 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $87.68, for a total transaction of $87,680.00. Following the sale, the executive vice president owned 12,372 shares in the company, valued at approximately $1,084,776.96. This trade represents a 7.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Jill Twedt sold 1,200 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $88.01, for a total transaction of $105,612.00. Following the sale, the senior vice president owned 34,649 shares in the company, valued at $3,049,458.49. This represents a 3.35% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.98% of the company's stock.

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.