Skandinaviska Enskilda Banken AB publ Lowers Holdings in Boise Cascade (NYSE:BCC)

Skandinaviska Enskilda Banken AB publ decreased its holdings in Boise Cascade (NYSE:BCC) by 16.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 98,600 shares of the construction company’s stock after selling 20,100 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.26% of Boise Cascade worth $11,713,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of BCC. Bank of Montreal Can raised its holdings in Boise Cascade by 1,597.4% in the 3rd quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock worth $17,907,000 after purchasing an additional 119,103 shares during the period. FMR LLC raised its holdings in Boise Cascade by 158.9% in the 3rd quarter. FMR LLC now owns 126,123 shares of the construction company’s stock worth $17,781,000 after purchasing an additional 77,401 shares during the period. Barclays PLC raised its holdings in Boise Cascade by 174.1% in the 3rd quarter. Barclays PLC now owns 90,366 shares of the construction company’s stock worth $12,739,000 after purchasing an additional 57,403 shares during the period. Point72 Asset Management L.P. acquired a new position in Boise Cascade in the 3rd quarter worth about $7,653,000. Finally, World Investment Advisors LLC acquired a new position in Boise Cascade in the 3rd quarter worth about $3,995,000. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Price Performance

NYSE:BCC opened at $99.29 on Friday. 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 quick ratio of 1.92 and a current ratio of 3.34. The stock has a market cap of $3.77 billion, a PE ratio of 10.39 and a beta of 1.67. The stock has a 50 day moving average price of $116.93 and a 200 day moving average price of $129.60.

Boise Cascade (NYSE:BCC) last posted its quarterly 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). 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 during the quarter, compared to analyst estimates of $1.57 billion. Equities research analysts expect that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The business 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 annualized dividend and a dividend yield of 0.85%. Boise Cascade’s dividend payout ratio is presently 8.79%.

Analyst Ratings Changes

BCC has been the subject of a number of analyst reports. 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. Benchmark reissued a “hold” rating on shares of Boise Cascade in a report on Tuesday, February 25th. The Goldman Sachs Group reduced their target price on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. DA Davidson reduced their target price on Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a report on Monday, February 24th. Finally, BMO Capital Markets reduced their target price on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $128.50.

Insider Activity at Boise Cascade

In other Boise Cascade news, COO Jeffrey Robert Strom sold 4,500 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total transaction of $450,945.00. Following the completion of the sale, the chief operating officer now owns 38,026 shares of the company’s stock, valued at $3,810,585.46. This trade represents a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kristopher J. Matula sold 553 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 13,099 shares of the company’s stock, valued at approximately $1,351,292.84. This trade represents a 4.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.05% of the company’s stock.

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.