Nomura Asset Management Co. Ltd. Sells 296 Shares of Boise Cascade (NYSE:BCC)

by · The Markets Daily

Nomura Asset Management Co. Ltd. trimmed its holdings in shares of Boise Cascade (NYSE:BCC – Free Report) by 23.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 974 shares of the construction company’s stock after selling 296 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Boise Cascade were worth $116,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. R Squared Ltd bought a new position in Boise Cascade during the fourth quarter worth about $29,000. Principal Securities Inc. raised its holdings in shares of Boise Cascade by 44.2% in the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock worth $56,000 after buying an additional 145 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Boise Cascade by 254.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company’s stock worth $92,000 after buying an additional 558 shares during the period. KBC Group NV boosted its stake in Boise Cascade by 41.3% in the 4th quarter. KBC Group NV now owns 1,732 shares of the construction company’s stock valued at $206,000 after buying an additional 506 shares in the last quarter. Finally, Corient Private Wealth LLC grew its position in Boise Cascade by 19.3% in the fourth quarter. Corient Private Wealth LLC now owns 1,915 shares of the construction company’s stock valued at $236,000 after acquiring an additional 310 shares during the period. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Boise Cascade Price Performance

BCC opened at $94.68 on Friday. 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 stock has a market capitalization of $3.59 billion, a P/E ratio of 9.90 and a beta of 1.67. The company’s 50 day simple moving average is $109.88 and its 200-day simple moving average is $126.53. Boise Cascade has a one year low of $93.91 and a one year high of $155.42.

Boise Cascade (NYSE:BCC – Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 5.60% and a return on equity of 17.04%. Sell-side analysts anticipate that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.84 annualized dividend and a yield of 0.89%. Boise Cascade’s dividend payout ratio is currently 8.79%.

Analyst Ratings Changes

BCC has been the subject of a number of analyst reports. The Goldman Sachs Group cut their price objective on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Truist Financial reduced their price target on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Benchmark reaffirmed a “hold” rating on shares of Boise Cascade in a report on Tuesday, February 25th. Loop Capital reduced their target price on Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Finally, BMO Capital Markets decreased their price target 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. One investment 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $128.50.

Read Our Latest Stock Analysis on BCC

Insider Buying and Selling at Boise Cascade

In other news, Director Kristopher J. Matula sold 553 shares of the 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 transaction, the director now owns 13,099 shares of the company’s stock, valued at $1,351,292.84. This represents a 4.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $450,945.00. Following the completion of the transaction, the chief operating officer now owns 38,026 shares in the company, valued at $3,810,585.46. This represents a 10.58 % 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.

Boise Cascade Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding BCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boise Cascade (NYSE:BCC – Free Report).