Bank of New York Mellon Corp Buys 12,963 Shares of Boise Cascade (NYSE:BCC)

Bank of New York Mellon Corp raised its stake in Boise Cascade (NYSE:BCC) by 3.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 446,350 shares of the construction company’s stock after purchasing an additional 12,963 shares during the period. Bank of New York Mellon Corp owned approximately 1.16% of Boise Cascade worth $53,053,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of BCC. Harbor Capital Advisors Inc. acquired a new position in shares of Boise Cascade during the third quarter valued at about $28,000. R Squared Ltd bought a new position in Boise Cascade during the fourth quarter valued at about $29,000. Larson Financial Group LLC increased 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 valued at $53,000 after acquiring an additional 73 shares during the period. Principal Securities Inc. raised its holdings in Boise Cascade by 44.2% in the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock valued at $56,000 after acquiring an additional 145 shares in the last quarter. Finally, Covestor Ltd lifted its position in shares of Boise Cascade by 50.1% in the 3rd quarter. Covestor Ltd now owns 689 shares of the construction company’s stock worth $97,000 after acquiring an additional 230 shares during the period. 96.18% of the stock is owned by institutional investors.

Boise Cascade Stock Up 2.7 %

Shares of NYSE:BCC opened at $100.54 on Thursday. The company’s fifty day moving average is $119.84 and its 200-day moving average is $131.15. Boise Cascade has a 52 week low of $97.21 and a 52 week high of $155.42. The company has a market capitalization of $3.81 billion, a PE ratio of 10.52 and a beta of 1.57. 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 (NYSE:BCC) last announced its earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). The company 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 research analysts predict that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, February 24th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Monday, February 24th. Boise Cascade’s dividend payout ratio (DPR) is 8.79%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BCC. BMO Capital Markets lowered their price objective 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. DA Davidson lowered their price target on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Loop Capital reduced their price objective 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. Benchmark reiterated a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. Finally, StockNews.com lowered shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Boise Cascade presently has an average rating of “Hold” and an average price target of $128.50.

Insider Activity

In related news, Director Kristopher J. Matula sold 553 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total value of $57,047.48. Following the sale, the director now directly owns 13,099 shares in the company, valued at $1,351,292.84. This trade represents a 4.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.98% of the stock is currently owned by company insiders.

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.