Advisors Asset Management Inc. Lowers Stake in Boise Cascade (NYSE:BCC)

Advisors Asset Management Inc. lessened its holdings in Boise Cascade (NYSE:BCC) by 3.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 100,082 shares of the construction company’s stock after selling 3,922 shares during the quarter. Advisors Asset Management Inc. owned 0.26% of Boise Cascade worth $11,896,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in BCC. KBC Group NV raised its position in Boise Cascade by 19.0% in the 3rd quarter. KBC Group NV now owns 1,226 shares of the construction company’s stock worth $173,000 after purchasing an additional 196 shares during the period. Quest Partners LLC raised its position in Boise Cascade by 2,173.7% in the 3rd quarter. Quest Partners LLC now owns 7,253 shares of the construction company’s stock worth $1,023,000 after purchasing an additional 6,934 shares during the period. Meeder Asset Management Inc. grew its holdings in Boise Cascade by 55.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 27,791 shares of the construction company’s stock worth $3,918,000 after acquiring an additional 9,958 shares during the last quarter. Segall Bryant & Hamill LLC grew its holdings in Boise Cascade by 2.0% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 14,254 shares of the construction company’s stock worth $2,010,000 after acquiring an additional 285 shares during the last quarter. Finally, Jennison Associates LLC bought a new stake in Boise Cascade in the 3rd quarter worth $862,000. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Trading Up 0.7 %

NYSE:BCC opened at $100.06 on Tuesday. Boise Cascade has a one year low of $95.33 and a one year 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 company’s 50-day simple moving average is $116.13 and its 200 day simple moving average is $129.03. The firm has a market capitalization of $3.80 billion, a P/E ratio of 10.47 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). The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. As a group, analysts forecast that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Announces Dividend

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

Insiders Place Their Bets

In other news, COO Jeffrey Robert Strom sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total transaction of $450,945.00. Following the completion of the transaction, the chief operating officer now directly owns 38,026 shares of the company’s stock, valued at $3,810,585.46. The trade was a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kristopher J. Matula sold 553 shares of the business’s stock in a transaction that occurred 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 directly owns 13,099 shares of the company’s stock, valued at $1,351,292.84. The trade was a 4.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BCC shares. Loop Capital cut their price target 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. BMO Capital Markets cut their target price 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. Benchmark reaffirmed a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. DA Davidson cut 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. Finally, 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Boise Cascade presently has an average rating of “Hold” and an average target price 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.