Boise Cascade (NYSE:BCC) Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP lowered its stake in Boise Cascade (NYSE:BCC) by 16.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,402 shares of the construction company’s stock after selling 1,476 shares during the quarter. Mission Wealth Management LP’s holdings in Boise Cascade were worth $880,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bailard Inc. boosted its holdings in shares of Boise Cascade by 17.6% in the fourth quarter. Bailard Inc. now owns 5,356 shares of the construction company’s stock valued at $637,000 after acquiring an additional 800 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Boise Cascade by 254.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company’s stock worth $92,000 after purchasing an additional 558 shares during the period. QRG Capital Management Inc. boosted its stake in Boise Cascade by 1.8% during the 4th quarter. QRG Capital Management Inc. now owns 32,059 shares of the construction company’s stock valued at $3,811,000 after purchasing an additional 564 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Boise Cascade during the 4th quarter valued at $3,334,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Boise Cascade by 3.0% in 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. Institutional investors own 96.18% of the company’s stock.

Boise Cascade Stock Down 3.9 %

BCC stock opened at $98.20 on Wednesday. The company’s 50 day simple moving average is $120.34 and its 200-day simple moving average is $131.36. Boise Cascade has a 52-week low of $97.21 and a 52-week high of $155.42. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92. The firm has a market capitalization of $3.73 billion, a P/E ratio of 10.27 and a beta of 1.57.

Boise Cascade (NYSE:BCC) last released its earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $1.57 billion. As a group, equities research analysts anticipate that Boise Cascade will post 10.15 EPS for the current 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 given a dividend of $0.21 per share. The ex-dividend date is Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.86%. Boise Cascade’s payout ratio is presently 8.79%.

Insider Activity

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of Boise Cascade stock in a transaction on Tuesday, February 25th. The shares were 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.98% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BCC shares. Truist Financial decreased their target price on Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a research note on Monday, February 24th. BMO Capital Markets lowered their price objective on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 25th. Loop Capital dropped their target price on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, February 24th. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Benchmark reaffirmed a “hold” rating on shares of Boise Cascade in a report on Tuesday, February 25th. One investment 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. According to MarketBeat.com, Boise Cascade has a consensus rating of “Hold” and a consensus price target of $128.50.

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.