Rhumbline Advisers Reduces Position in Boise Cascade (NYSE:BCC)

Rhumbline Advisers trimmed its position in shares of Boise Cascade (NYSE:BCC - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 112,166 shares of the construction company's stock after selling 8,014 shares during the quarter. Rhumbline Advisers owned approximately 0.30% of Boise Cascade worth $11,002,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quarry LP raised its stake in Boise Cascade by 502.4% during the fourth quarter. Quarry LP now owns 253 shares of the construction company's stock valued at $30,000 after buying an additional 211 shares during the last quarter. Principal Securities Inc. raised its holdings in Boise Cascade by 44.2% in the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company's stock worth $56,000 after acquiring an additional 145 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Boise Cascade by 254.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company's stock valued at $92,000 after purchasing an additional 558 shares in the last quarter. Quantinno Capital Management LP bought a new stake in shares of Boise Cascade in the fourth quarter worth approximately $200,000. Finally, PEAK6 LLC bought a new stake in Boise Cascade in the 4th quarter worth approximately $201,000. Hedge funds and other institutional investors own 96.18% of the company's stock.

Insider Activity

In related news, 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 now directly owns 34,649 shares of the company's stock, valued at $3,049,458.49. This trade represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joanna L. Barney sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $87.68, for a total transaction of $87,680.00. Following the sale, the executive vice president now directly owns 12,372 shares in the company, valued at $1,084,776.96. The trade was a 7.48% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.11% of the company's stock.

Boise Cascade Trading Down 1.9%

Shares of NYSE:BCC traded down $1.70 during trading hours on Wednesday, hitting $88.53. 212,273 shares of the company's stock traded hands, compared to its average volume of 326,857. The firm has a market capitalization of $3.33 billion, a P/E ratio of 9.26 and a beta of 1.37. The business has a fifty day moving average price of $91.24 and a 200-day moving average price of $109.80. Boise Cascade has a 1 year low of $83.86 and a 1 year high of $155.42. 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 quarterly earnings data on Monday, May 5th. The construction company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.30). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the company earned $2.61 EPS. The business's revenue was down 6.6% compared to the same quarter last year. Equities analysts expect 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 of this dividend is Monday, June 2nd. This represents a $0.84 annualized dividend and a yield of 0.95%. Boise Cascade's dividend payout ratio (DPR) is currently 10.49%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Truist Financial reduced their price target on shares of Boise Cascade from $134.00 to $118.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. BMO Capital Markets lowered their price objective 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. Loop Capital cut their price target on Boise Cascade from $140.00 to $135.00 and set a "buy" rating for the company in a research note on Monday, April 14th. DA Davidson reduced their price objective on shares of Boise Cascade from $155.00 to $125.00 and set a "buy" rating on the stock in a research report on Monday, February 24th. Finally, Benchmark reiterated a "hold" rating on shares of Boise Cascade in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus 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.