Vest Financial LLC Cuts Holdings in Boise Cascade (NYSE:BCC)

Vest Financial LLC lowered its position in shares of Boise Cascade (NYSE:BCC - Free Report) by 72.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,493 shares of the construction company's stock after selling 14,360 shares during the quarter. Vest Financial LLC's holdings in Boise Cascade were worth $539,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in BCC. D.A. Davidson & CO. raised its holdings in Boise Cascade by 4.2% during the fourth quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company's stock worth $388,000 after purchasing an additional 133 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Boise Cascade by 3.0% during the 4th quarter. Bank of New York Mellon Corp now owns 446,350 shares of the construction company's stock worth $53,053,000 after buying an additional 12,963 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Boise Cascade by 19.4% in the 4th quarter. Handelsbanken Fonder AB now owns 8,000 shares of the construction company's stock valued at $951,000 after buying an additional 1,300 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Boise Cascade by 2.6% in the fourth quarter. Principal Financial Group Inc. now owns 208,323 shares of the construction company's stock valued at $24,761,000 after buying an additional 5,281 shares in the last quarter. Finally, HighTower Advisors LLC grew its holdings in Boise Cascade by 139.1% during the fourth quarter. HighTower Advisors LLC now owns 4,507 shares of the construction company's stock worth $536,000 after acquiring an additional 2,622 shares during the period. Institutional investors and hedge funds own 96.18% of the company's stock.

Boise Cascade Price Performance

Shares of BCC stock traded down $0.53 during trading hours on Thursday, hitting $87.86. The company's stock had a trading volume of 274,721 shares, compared to its average volume of 326,649. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22. The business has a fifty day moving average of $91.10 and a 200-day moving average of $109.66. Boise Cascade has a twelve month low of $83.86 and a twelve month high of $155.42. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of 9.19 and a beta of 1.37.

Boise Cascade (NYSE:BCC - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The construction company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.30). Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. The company had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.53 billion. During the same period in the previous year, the business posted $2.61 EPS. The business's quarterly revenue was down 6.6% on a year-over-year basis. As a group, equities research analysts anticipate that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, June 2nd will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Monday, June 2nd. Boise Cascade's dividend payout ratio is presently 10.49%.

Insider Activity at Boise Cascade

In other news, EVP Joanna L. Barney sold 1,000 shares of Boise Cascade 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 now directly owns 12,372 shares in the company, valued at $1,084,776.96. The trade was a 7.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Jill Twedt sold 1,200 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $88.01, for a total transaction of $105,612.00. Following the transaction, the senior vice president now directly owns 34,649 shares in the company, valued at $3,049,458.49. The trade was a 3.35% decrease in their position. The disclosure for this sale can be found here. 1.11% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BCC shares. Loop Capital reduced their target price on Boise Cascade from $140.00 to $135.00 and set a "buy" rating for the company in a report 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 for the company in a research note on Monday, February 24th. BMO Capital Markets lowered their target price on shares of 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. Truist Financial dropped their target price on shares of Boise Cascade from $134.00 to $118.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Benchmark reissued a "hold" rating on shares of Boise Cascade in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $125.00.

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.