Skandinaviska Enskilda Banken AB publ Sells 41,400 Shares of Boise Cascade, L.L.C. (NYSE:BCC)

Key Points

• Skandinaviska Enskilda Banken AB reduced its position in Boise Cascade by 42.0%, selling 41,400 shares, which represents approximately 0.15% of the company valued at $5.6 million.
• Boise Cascade reported an EPS of $1.06 for the recent quarter, missing analysts' expectations by $0.30, and experienced a 6.6% decline in revenue compared to the same quarter last year.
• The company recently declared a quarterly dividend of $0.21 per share, with a 0.95% yield and a 10.49% payout ratio.

Skandinaviska Enskilda Banken AB publ trimmed its stake in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 42.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,200 shares of the construction company's stock after selling 41,400 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.15% of Boise Cascade worth $5,611,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Boise Cascade during the 4th quarter worth approximately $55,680,000. First Trust Advisors LP grew its holdings in shares of Boise Cascade by 37.9% during 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. GAMMA Investing LLC grew its holdings in shares of Boise Cascade by 15,650.6% during the 1st quarter. GAMMA Investing LLC now owns 143,015 shares of the construction company's stock worth $14,028,000 after purchasing an additional 142,107 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Boise Cascade by 534.5% during the 4th quarter. Tidal Investments LLC now owns 100,295 shares of the construction company's stock worth $11,921,000 after purchasing an additional 84,487 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of Boise Cascade by 322.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 109,770 shares of the construction company's stock worth $13,048,000 after purchasing an additional 83,776 shares in the last quarter. 96.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BCC. Truist Financial decreased their price objective on Boise Cascade from $114.00 to $106.00 and set a "buy" rating on the stock in a report on Tuesday, July 8th. Loop Capital decreased their price target on Boise Cascade from $140.00 to $135.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. DA Davidson decreased their price target on Boise Cascade from $115.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Finally, Bank of America decreased their price target on Boise Cascade from $111.00 to $107.00 and set a "buy" rating on the stock in a research note on Wednesday, July 9th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $116.00.

Insider Buying and Selling at Boise Cascade

In other news, SVP Jill Twedt sold 1,200 shares of the business's stock in a transaction 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 completion of the sale, the senior vice president owned 34,649 shares in the company, valued at $3,049,458.49. The trade was a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Joanna L. Barney sold 1,000 shares of the business's stock in a transaction 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 sale, the executive vice president owned 12,372 shares of the company's stock, valued at approximately $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 0.98% of the company's stock.

Boise Cascade Price Performance

BCC traded down $0.99 during trading on Thursday, hitting $83.90. The company's stock had a trading volume of 83,942 shares, compared to its average volume of 348,638. The firm's 50 day moving average price is $87.89 and its two-hundred day moving average price is $99.17. The company has a quick ratio of 1.51, a current ratio of 2.82 and a debt-to-equity ratio of 0.22. Boise Cascade, L.L.C. has a 12 month low of $83.09 and a 12 month high of $155.42. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 10.49, a price-to-earnings-growth ratio of 4.20 and a beta of 1.34.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The construction company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.30). Boise Cascade had a net margin of 4.72% and a return on equity of 14.36%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the firm posted $2.61 EPS. The company's revenue for the quarter was down 6.6% compared to the same quarter last year. Sell-side analysts forecast that Boise Cascade, L.L.C. will post 10.15 earnings per share for the current fiscal year.

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.