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

Moran Wealth Management LLC boosted its holdings in shares of Boise Cascade (NYSE:BCC) by 47.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 39,420 shares of the construction company’s stock after acquiring an additional 12,773 shares during the quarter. Moran Wealth Management LLC’s holdings in Boise Cascade were worth $4,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. R Squared Ltd acquired a new stake in Boise Cascade during the fourth quarter worth $29,000. Larson Financial Group LLC boosted its stake in Boise Cascade by 23.9% during 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 in the last quarter. Principal Securities Inc. boosted its stake in Boise Cascade by 44.2% during 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 in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Boise Cascade by 254.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company’s stock valued at $92,000 after purchasing an additional 558 shares in the last quarter. Finally, Covestor Ltd boosted its stake in shares of Boise Cascade by 50.1% in the 3rd quarter. Covestor Ltd now owns 689 shares of the construction company’s stock valued at $97,000 after purchasing an additional 230 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Stock Performance

Boise Cascade stock opened at $99.34 on Tuesday. The stock has a 50-day simple moving average of $118.56 and a 200 day simple moving average of $130.56. 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 has a 12-month low of $97.21 and a 12-month high of $155.42. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 10.39 and a beta of 1.67.

Boise Cascade (NYSE:BCC) last released its quarterly 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 the consensus estimate of $1.57 billion. On average, research analysts anticipate that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, February 24th. This represents a $0.84 annualized dividend and a yield of 0.85%. Boise Cascade’s dividend payout ratio is currently 8.79%.

Wall Street Analyst Weigh In

BCC has been the topic of several recent analyst reports. Truist Financial reduced their target price on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Loop Capital reduced 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. Benchmark restated a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. The Goldman Sachs Group reduced 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. Finally, DA Davidson reduced their target price on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. One research 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 data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $128.50.

Insiders Place Their Bets

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of the business’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 directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey Robert Strom sold 4,500 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total value of $450,945.00. Following the sale, the chief operating officer now directly owns 38,026 shares of the company’s stock, 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. Company insiders own 0.98% of the company’s stock.

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.