Wells Fargo & Company MN Purchases 7,578 Shares of Boise Cascade (NYSE:BCC)

Wells Fargo & Company MN raised its stake in Boise Cascade (NYSE:BCC - Free Report) by 9.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,347 shares of the construction company's stock after acquiring an additional 7,578 shares during the quarter. Wells Fargo & Company MN owned about 0.24% of Boise Cascade worth $10,739,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of BCC. Unison Advisors LLC raised its holdings in Boise Cascade by 3.6% during the 4th quarter. Unison Advisors LLC now owns 7,443 shares of the construction company's stock worth $885,000 after purchasing an additional 261 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Boise Cascade during the 4th quarter worth approximately $5,705,000. Meeder Asset Management Inc. raised its stake in shares of Boise Cascade by 22.7% during the fourth quarter. Meeder Asset Management Inc. now owns 34,088 shares of the construction company's stock worth $4,052,000 after buying an additional 6,297 shares during the last quarter. Brandywine Global Investment Management LLC raised its position in shares of Boise Cascade by 1.2% during the 4th quarter. Brandywine Global Investment Management LLC now owns 155,349 shares of the construction company's stock valued at $18,465,000 after acquiring an additional 1,904 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Boise Cascade by 118.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 41,895 shares of the construction company's stock valued at $4,980,000 after purchasing an additional 22,689 shares during the last quarter. 96.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on BCC shares. Truist Financial cut their target price on shares of Boise Cascade from $134.00 to $118.00 and set a "buy" rating on the stock in a report on Tuesday. Loop Capital lowered their price target on Boise Cascade from $140.00 to $135.00 and set a "buy" rating for the company in a report on Monday, April 14th. BMO Capital Markets cut their price objective on Boise Cascade from $136.00 to $122.00 and set a "market perform" rating on the stock in a report on Tuesday, February 25th. DA Davidson lowered their target price on Boise Cascade from $155.00 to $125.00 and set a "buy" rating for the company in a research note on Monday, February 24th. Finally, The Goldman Sachs Group cut their price target on shares of Boise Cascade from $145.00 to $126.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $125.00.

Insider Buying and Selling at Boise Cascade

In other Boise Cascade news, COO Jeffrey Robert Strom sold 4,500 shares of the company's stock in a transaction that occurred on 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 owns 38,026 shares in the company, valued at $3,810,585.46. This represents a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kristopher J. Matula sold 553 shares of Boise Cascade stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total value of $57,047.48. Following the transaction, the director now owns 13,099 shares of the company's stock, valued at $1,351,292.84. This represents a 4.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.98% of the company's stock.

Boise Cascade Stock Up 2.2 %

Shares of NYSE BCC traded up $1.99 during midday trading on Tuesday, reaching $92.79. The company's stock had a trading volume of 313,247 shares, compared to its average volume of 328,199. Boise Cascade has a fifty-two week low of $87.84 and a fifty-two week high of $155.42. The stock has a 50 day simple moving average of $100.53 and a 200-day simple moving average of $121.77. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 9.71 and a beta of 1.52. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.01). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.57 billion. Equities research analysts predict that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, February 24th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.84 annualized dividend and a yield of 0.91%. Boise Cascade's dividend payout ratio (DPR) is presently 8.79%.

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.