Vest Financial LLC Trims Position in Boise Cascade (NYSE:BCC)

Vest Financial LLC cut its position in Boise Cascade (NYSE:BCC - Free Report) by 72.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,493 shares of the construction company's stock after selling 14,360 shares during the period. Vest Financial LLC's holdings in Boise Cascade were worth $539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of BCC. Norges Bank purchased a new stake in shares of Boise Cascade in the fourth quarter worth $55,680,000. First Trust Advisors LP grew its stake in Boise Cascade by 37.9% during the fourth quarter. First Trust Advisors LP now owns 712,527 shares of the construction company's stock valued at $84,691,000 after acquiring an additional 195,773 shares in the last quarter. GAMMA Investing LLC grew its stake in Boise Cascade by 15,650.6% during the first quarter. GAMMA Investing LLC now owns 143,015 shares of the construction company's stock valued at $14,028,000 after acquiring an additional 142,107 shares in the last quarter. American Century Companies Inc. grew its stake in Boise Cascade by 12.0% during the fourth quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company's stock valued at $134,831,000 after acquiring an additional 121,790 shares in the last quarter. Finally, Tidal Investments LLC grew its stake in Boise Cascade by 534.5% during the fourth quarter. Tidal Investments LLC now owns 100,295 shares of the construction company's stock valued at $11,921,000 after acquiring an additional 84,487 shares in the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. DA Davidson cut their target price on shares of Boise Cascade from $155.00 to $125.00 and set a "buy" rating for the company in a research note on Monday, February 24th. Loop Capital cut their target price on shares of Boise Cascade from $140.00 to $135.00 and set a "buy" rating for the company in a research note on Monday, April 14th. BMO Capital Markets cut their target price on shares of Boise Cascade from $136.00 to $122.00 and set a "market perform" rating for the company in a research note on Tuesday, February 25th. Truist Financial lowered their price objective 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. Finally, Benchmark reiterated a "hold" rating on shares of Boise Cascade in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Boise Cascade presently has a consensus rating of "Hold" and a consensus price target of $125.00.

Boise Cascade Price Performance

BCC stock opened at $86.71 on Monday. Boise Cascade has a 52 week low of $83.86 and a 52 week high of $155.42. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $91.60 and a two-hundred day simple moving average of $110.33. The firm has a market capitalization of $3.26 billion, a P/E ratio of 9.07 and a beta of 1.36.

Boise Cascade (NYSE:BCC - Get Free Report) last released 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). The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. Boise Cascade's revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.61 EPS. Analysts anticipate that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd will be issued a $0.21 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.84 annualized dividend and a dividend yield of 0.97%. Boise Cascade's dividend payout ratio (DPR) is presently 10.49%.

Insider Transactions at Boise Cascade

In other 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 value of $87,680.00. Following the completion of the sale, the executive vice president now owns 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 Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the sale, the senior vice president now owns 34,649 shares of the company's stock, valued at $3,049,458.49. This trade 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.

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