Geode Capital Management LLC Sells 12,321 Shares of Boise Cascade (NYSE:BCC)

Geode Capital Management LLC trimmed its stake in shares of Boise Cascade (NYSE:BCC) by 1.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 999,670 shares of the construction company’s stock after selling 12,321 shares during the quarter. Geode Capital Management LLC owned about 2.60% of Boise Cascade worth $118,845,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Invst LLC raised its stake in Boise Cascade by 2.6% in the third quarter. Invst LLC now owns 5,060 shares of the construction company’s stock valued at $713,000 after purchasing an additional 128 shares in the last quarter. D.A. Davidson & CO. raised 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 valued at $388,000 after buying an additional 133 shares in the last quarter. Principal Securities Inc. raised 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 valued at $56,000 after buying an additional 145 shares in the last quarter. Orion Portfolio Solutions LLC lifted its holdings in shares of Boise Cascade by 8.9% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 2,023 shares of the construction company’s stock worth $285,000 after acquiring an additional 165 shares during the period. Finally, Bridge City Capital LLC boosted its position in shares of Boise Cascade by 0.9% during the 4th quarter. Bridge City Capital LLC now owns 21,528 shares of the construction company’s stock worth $2,559,000 after acquiring an additional 192 shares in the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on BCC shares. Benchmark restated a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Loop Capital reduced their price objective on Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. DA Davidson decreased their target price on Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. 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 report on Monday, February 24th. Finally, The Goldman Sachs Group decreased their price target on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Boise Cascade presently has an average rating of “Hold” and a consensus target price of $128.50.

Boise Cascade Stock Down 2.2 %

Shares of NYSE BCC opened at $89.86 on Wednesday. The company has a 50 day simple moving average of $107.03 and a 200 day simple moving average of $125.16. 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 has a 1 year low of $88.92 and a 1 year high of $155.42. The firm has a market cap of $3.41 billion, a PE ratio of 9.40 and a beta of 1.52.

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

Boise Cascade Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.84 annualized dividend and a dividend yield of 0.93%. Boise Cascade’s payout ratio is 8.79%.

Insider Transactions at Boise Cascade

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of the 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 directly owns 13,099 shares in the company, valued at approximately $1,351,292.84. This trade represents a 4.05 % decrease in their position. The sale 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 business’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 transaction, the chief operating officer now directly 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 disclosure for this sale can be found here. 0.98% of the stock is owned by corporate 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.