Charles Schwab Investment Management Inc. Grows Position in Boise Cascade (NYSE:BCC)

Charles Schwab Investment Management Inc. grew its stake in shares of Boise Cascade (NYSE:BCC) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 443,691 shares of the construction company’s stock after purchasing an additional 6,182 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.16% of Boise Cascade worth $52,737,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. R Squared Ltd purchased a new stake in shares of Boise Cascade during the fourth quarter valued at approximately $29,000. Larson Financial Group LLC boosted its stake in shares of 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 purchasing an additional 73 shares during the period. Principal Securities Inc. boosted its stake in shares of Boise Cascade by 44.2% during the fourth quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock valued at $56,000 after purchasing an additional 145 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Boise Cascade by 254.8% during the fourth 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 during the period. Finally, KBC Group NV boosted its stake in shares of Boise Cascade by 19.0% during the third quarter. KBC Group NV now owns 1,226 shares of the construction company’s stock valued at $173,000 after purchasing an additional 196 shares during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Stock Down 2.1 %

BCC stock opened at $96.19 on Friday. Boise Cascade has a twelve month low of $95.33 and a twelve month high of $155.42. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22. The stock has a market cap of $3.65 billion, a P/E ratio of 10.06 and a beta of 1.67. The business’s 50-day moving average price is $117.35 and its 200-day moving average price is $129.84.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data 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). 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 for the quarter, compared to analysts’ expectations of $1.57 billion. On average, equities research analysts forecast that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

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 issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.87%. Boise Cascade’s dividend payout ratio is presently 8.79%.

Insider Buying and Selling

In other Boise Cascade news, COO Jeffrey Robert Strom sold 4,500 shares of Boise Cascade stock in a transaction that occurred on 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 owns 38,026 shares of the company’s stock, valued at $3,810,585.46. The trade was a 10.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kristopher J. Matula sold 553 shares of Boise Cascade stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total value of $57,047.48. Following the completion of the sale, the director now directly owns 13,099 shares in the company, 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. 1.05% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on BCC shares. The Goldman Sachs Group dropped their price target on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Truist Financial dropped their price target on Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Loop Capital lowered their price objective on Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, February 24th. BMO Capital Markets lowered their price objective on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a research report on Tuesday, February 25th. Finally, DA Davidson lowered their price objective on Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $128.50.

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.