Advisors Asset Management Inc. Decreases Stock Holdings in Boise Cascade (NYSE:BCC)

Advisors Asset Management Inc. reduced its holdings in shares of Boise Cascade (NYSE:BCC) by 3.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 100,082 shares of the construction company’s stock after selling 3,922 shares during the period. Advisors Asset Management Inc.’s holdings in Boise Cascade were worth $11,896,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Larson Financial Group LLC boosted its position in shares of Boise Cascade by 23.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock worth $53,000 after purchasing an additional 73 shares during the period. Invst LLC boosted its position in shares of Boise Cascade by 2.6% in the third quarter. Invst LLC now owns 5,060 shares of the construction company’s stock worth $713,000 after purchasing an additional 128 shares during the period. D.A. Davidson & CO. boosted its position in shares of Boise Cascade by 4.2% in 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 during the period. Principal Securities Inc. boosted its position in shares of Boise Cascade by 44.2% in the fourth quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock worth $56,000 after purchasing an additional 145 shares during the period. Finally, Orion Portfolio Solutions LLC boosted its position in shares of Boise Cascade by 8.9% in the third quarter. Orion Portfolio Solutions LLC now owns 2,023 shares of the construction company’s stock worth $285,000 after purchasing an additional 165 shares during the period. 96.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. BMO Capital Markets dropped their price target on shares of 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. DA Davidson dropped 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 report on Monday, February 24th. The Goldman Sachs Group dropped their target price on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Truist Financial dropped their target price on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Finally, Loop Capital dropped their target price on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Boise Cascade currently has a consensus rating of “Hold” and a consensus target price of $128.50.

Boise Cascade Stock Performance

Shares of NYSE:BCC opened at $100.06 on Tuesday. Boise Cascade has a 52 week low of $95.33 and a 52 week high of $155.42. The stock has a market capitalization of $3.80 billion, a P/E ratio of 10.47 and a beta of 1.67. The firm has a fifty day simple moving average of $116.13 and a two-hundred day simple moving average of $129.03. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.57 billion. On average, analysts expect that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.84%. Boise Cascade’s payout ratio is currently 8.79%.

Insiders Place Their Bets

In other news, COO Jeffrey Robert Strom sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total value of $450,945.00. Following the completion of the sale, the chief operating officer now owns 38,026 shares in the company, valued at approximately $3,810,585.46. This trade represents a 10.58 % 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, Director Kristopher J. Matula sold 553 shares of the firm’s 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 completion of the sale, the director now owns 13,099 shares of the company’s stock, valued at $1,351,292.84. This trade represents a 4.05 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.