Moran Wealth Management LLC Has $4.69 Million Stock Position in Boise Cascade (NYSE:BCC)

Moran Wealth Management LLC grew its position in Boise Cascade (NYSE:BCC) by 47.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,420 shares of the construction company’s stock after buying an additional 12,773 shares during the quarter. Moran Wealth Management LLC owned approximately 0.10% of Boise Cascade worth $4,685,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BCC. R Squared Ltd acquired a new position in shares of Boise Cascade in the fourth quarter worth about $29,000. Larson Financial Group LLC boosted its holdings 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 buying an additional 73 shares during the period. Principal Securities Inc. boosted its holdings 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 buying an additional 145 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of 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 buying an additional 558 shares during the period. Finally, Covestor Ltd boosted its holdings in shares of Boise Cascade by 50.1% in the third quarter. Covestor Ltd now owns 689 shares of the construction company’s stock worth $97,000 after buying an additional 230 shares during the period. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Kristopher J. Matula sold 553 shares of the business’s 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 transaction, the director now owns 13,099 shares of the company’s stock, valued at approximately $1,351,292.84. The trade was a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Jeffrey Robert Strom sold 4,500 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total transaction of $450,945.00. Following the transaction, the chief operating officer now directly owns 38,026 shares in the company, valued at $3,810,585.46. This trade represents a 10.58 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.98% of the company’s stock.

Analyst Upgrades and Downgrades

BCC has been the subject of several research reports. Benchmark restated a “hold” rating on shares of Boise Cascade in a report on Tuesday, February 25th. Truist Financial decreased their price target 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. BMO Capital Markets decreased 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 report on Tuesday, February 25th. The Goldman Sachs Group decreased their price target on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Finally, Loop Capital decreased their price target on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $128.50.

Boise Cascade Price Performance

Shares of BCC opened at $99.34 on Tuesday. The firm has a market cap of $3.77 billion, a PE ratio of 10.39 and a beta of 1.67. The firm’s 50 day moving average price is $118.56 and its 200 day moving average price is $130.56. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34. Boise Cascade has a twelve month low of $97.21 and a twelve month high of $155.42.

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 for the quarter, compared to the consensus estimate of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. As a group, research analysts expect that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Monday, February 24th. Boise Cascade’s dividend payout ratio is 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.