Principal Financial Group Inc. Increases Stock Position in Boise Cascade, L.L.C. (NYSE:BCC)

Principal Financial Group Inc. increased its position in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 2.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 214,074 shares of the construction company's stock after buying an additional 5,751 shares during the period. Principal Financial Group Inc. owned 0.56% of Boise Cascade worth $20,999,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in BCC. Charles Schwab Investment Management Inc. boosted its holdings in Boise Cascade by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 443,691 shares of the construction company's stock worth $52,737,000 after buying an additional 6,182 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Boise Cascade during the fourth quarter worth $3,334,000. Raymond James Financial Inc. purchased a new stake in Boise Cascade during the fourth quarter worth $1,601,000. Amundi boosted its holdings in Boise Cascade by 100.0% during the fourth quarter. Amundi now owns 22,101 shares of the construction company's stock worth $2,595,000 after buying an additional 11,052 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Boise Cascade by 20.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,277 shares of the construction company's stock valued at $1,340,000 after purchasing an additional 1,947 shares in the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related 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 transaction of $87,680.00. Following the completion of the sale, the executive vice president directly owned 12,372 shares in the company, valued at approximately $1,084,776.96. This trade represents a 7.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 sale, the senior vice president 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 ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BCC. Loop Capital decreased their price objective 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 decreased their price objective on shares of Boise Cascade from $111.00 to $107.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Truist Financial decreased their price objective on shares of Boise Cascade from $114.00 to $106.00 and set a "buy" rating on the stock in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $120.17.

Boise Cascade Price Performance

Shares of NYSE BCC traded up $0.99 during mid-day trading on Thursday, reaching $93.36. The company's stock had a trading volume of 468,214 shares, compared to its average volume of 325,877. The stock has a 50-day moving average of $88.94 and a two-hundred day moving average of $102.42. The stock has a market capitalization of $3.51 billion, a P/E ratio of 11.66, a P/E/G ratio of 3.92 and a beta of 1.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.51 and a current ratio of 2.82. Boise Cascade, L.L.C. has a 1-year low of $83.60 and a 1-year high of $155.42.

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

Boise Cascade Dividend Announcement

The company also recently disclosed 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. This represents a $0.84 annualized dividend and a yield of 0.90%. The ex-dividend date was Monday, June 2nd. Boise Cascade's payout ratio is currently 10.49%.

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.