Northern Trust Corp Buys 73,061 Shares of Boise Cascade (NYSE:BCC)

Northern Trust Corp lifted its holdings in Boise Cascade (NYSE:BCC - Free Report) by 17.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 483,165 shares of the construction company's stock after acquiring an additional 73,061 shares during the period. Northern Trust Corp owned approximately 1.26% of Boise Cascade worth $57,429,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. D.A. Davidson & CO. increased its position in shares of Boise Cascade by 4.2% in the 4th 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 during the last quarter. Principal Securities Inc. grew its position in shares of 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 in the last quarter. Bridge City Capital LLC increased its holdings in shares of Boise Cascade by 0.9% in the 4th quarter. Bridge City Capital LLC now owns 21,528 shares of the construction company's stock valued at $2,559,000 after acquiring an additional 192 shares during the last quarter. Quarry LP raised its position in shares of Boise Cascade by 502.4% during the 4th quarter. Quarry LP now owns 253 shares of the construction company's stock valued at $30,000 after acquiring an additional 211 shares in the last quarter. Finally, R Squared Ltd bought a new position in Boise Cascade during the fourth quarter worth $29,000. Hedge funds and other institutional investors own 96.18% of the company's stock.

Boise Cascade Stock Performance

Shares of BCC traded down $0.99 on Friday, reaching $88.59. 278,111 shares of the stock traded hands, compared to its average volume of 329,144. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 9.27 and a beta of 1.43. Boise Cascade has a 12 month low of $84.53 and a 12 month high of $155.42. The stock's 50-day moving average price is $95.99 and its 200-day moving average price is $117.41. 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 released its quarterly earnings data on Monday, May 5th. The construction company reported $1.06 earnings per share for the quarter, missing analysts' consensus estimates of $1.36 by ($0.30). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the firm posted $2.61 earnings per share. The firm's revenue for the quarter was down 6.6% compared to the same quarter last year. Equities analysts forecast that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The firm 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 dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Monday, June 2nd. Boise Cascade's payout ratio is presently 10.49%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Truist Financial cut their target price on Boise Cascade from $134.00 to $118.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Loop Capital decreased their target price 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. Benchmark restated a "hold" rating on shares of Boise Cascade in a research report on Tuesday, February 25th. BMO Capital Markets decreased their price target on Boise Cascade from $136.00 to $122.00 and set a "market perform" rating for the company in a research report on Tuesday, February 25th. Finally, DA Davidson reduced their target price on Boise Cascade from $155.00 to $125.00 and set a "buy" rating for the company in a report on Monday, February 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $125.00.

Insider Activity at Boise Cascade

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of Boise Cascade stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total transaction of $57,047.48. Following the transaction, the director now directly owns 13,099 shares in the company, valued at approximately $1,351,292.84. The trade was a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jeffrey Robert Strom sold 4,500 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total value of $450,945.00. Following the sale, the chief operating officer now directly owns 38,026 shares in the company, valued at approximately $3,810,585.46. This represents a 10.58 % decrease in their position. The disclosure for this sale can be found here. 1.11% of the stock is currently owned by company insiders.

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.