Legal & General Group Plc Has $12.95 Million Position in Boise Cascade (NYSE:BCC)

Legal & General Group Plc lessened its holdings in Boise Cascade (NYSE:BCC) by 4.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 108,957 shares of the construction company’s stock after selling 5,003 shares during the quarter. Legal & General Group Plc’s holdings in Boise Cascade were worth $12,951,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Tidal Investments LLC lifted its stake in Boise Cascade by 341.9% in the 3rd quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock worth $2,229,000 after acquiring an additional 12,231 shares in the last quarter. Fulcrum Capital LLC acquired a new position in shares of Boise Cascade in the 4th quarter valued at about $1,092,000. D.A. Davidson & CO. lifted its position in shares of Boise Cascade by 4.2% in the fourth quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company’s stock worth $388,000 after purchasing an additional 133 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Boise Cascade by 5.0% during the fourth quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company’s stock worth $14,454,000 after purchasing an additional 5,779 shares during the period. Finally, Barclays PLC grew its position in Boise Cascade by 174.1% during the third quarter. Barclays PLC now owns 90,366 shares of the construction company’s stock valued at $12,739,000 after purchasing an additional 57,403 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Trading Down 1.2 %

Shares of BCC stock opened at $93.75 on Wednesday. The business’s 50 day moving average is $103.44 and its two-hundred day moving average is $123.40. 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 $87.84 and a 12 month high of $155.42. The company has a market cap of $3.56 billion, a PE ratio of 9.81 and a beta of 1.52.

Boise Cascade (NYSE:BCC) last announced its earnings results on Thursday, February 20th. The construction company reported $1.78 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 the consensus estimate of $1.57 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. Equities analysts predict that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.90%. Boise Cascade’s payout ratio is presently 8.79%.

Insider Buying and Selling

In other news, COO Jeffrey Robert Strom sold 4,500 shares of the company’s stock in a transaction dated 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 owns 38,026 shares of the company’s stock, valued at approximately $3,810,585.46. This represents a 10.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kristopher J. Matula sold 553 shares of the stock in a transaction dated 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 approximately $1,351,292.84. The trade was a 4.05 % decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BCC. DA Davidson cut their target price on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Loop Capital cut their price objective on Boise Cascade from $140.00 to $135.00 and set a “buy” rating for the company in a report on Monday. Benchmark reissued a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. BMO Capital Markets dropped their target price on 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. Finally, Truist Financial reduced their price target on Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a report on Monday, February 24th. 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $127.67.

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.