Swiss National Bank Trims Holdings in Boise Cascade (NYSE:BCC)

Swiss National Bank trimmed its stake in Boise Cascade (NYSE:BCC) by 0.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 76,500 shares of the construction company’s stock after selling 600 shares during the period. Swiss National Bank’s holdings in Boise Cascade were worth $9,093,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BCC. Bank of Montreal Can raised its stake in shares of Boise Cascade by 1,597.4% in the 3rd quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock valued at $17,907,000 after acquiring an additional 119,103 shares during the period. FMR LLC increased its stake in Boise Cascade by 158.9% during the 3rd quarter. FMR LLC now owns 126,123 shares of the construction company’s stock worth $17,781,000 after buying an additional 77,401 shares during the period. Barclays PLC increased its stake in Boise Cascade by 174.1% during the 3rd quarter. Barclays PLC now owns 90,366 shares of the construction company’s stock worth $12,739,000 after buying an additional 57,403 shares during the period. Point72 Asset Management L.P. purchased a new stake in Boise Cascade during the 3rd quarter worth approximately $7,653,000. Finally, World Investment Advisors LLC purchased a new stake in Boise Cascade during the 3rd quarter worth approximately $3,995,000. 96.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Boise Cascade Trading Down 1.0 %

Shares of NYSE:BCC opened at $99.46 on Friday. Boise Cascade has a 52 week low of $95.33 and a 52 week high of $155.42. The company’s 50 day moving average is $114.75 and its two-hundred day moving average is $128.13. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22. The company has a market cap of $3.77 billion, a PE ratio of 10.40 and a beta of 1.67.

Boise Cascade (NYSE:BCC) last issued its 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 company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.57 billion. Equities analysts predict that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

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

Insider Activity

In other news, COO Jeffrey Robert Strom sold 4,500 shares of the company’s stock in a transaction on 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 owns 38,026 shares in the company, valued at approximately $3,810,585.46. This represents a 10.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kristopher J. Matula sold 553 shares of the company’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 completion of 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 position. The disclosure for this sale can be found here. Company insiders own 0.98% of the company’s stock.

Boise Cascade Company 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.