Freedom Investment Management Inc. Sells 282 Shares of Boise Cascade (NYSE:BCC)

Freedom Investment Management Inc. cut its stake in Boise Cascade (NYSE:BCC) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,628 shares of the construction company’s stock after selling 282 shares during the quarter. Freedom Investment Management Inc.’s holdings in Boise Cascade were worth $788,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of BCC. American Century Companies Inc. lifted its holdings in shares of Boise Cascade by 12.0% in the 4th quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock worth $134,831,000 after acquiring an additional 121,790 shares during the last quarter. Norges Bank purchased a new position in shares of Boise Cascade during the fourth quarter valued at approximately $55,680,000. Bank of New York Mellon Corp grew its stake in shares of Boise Cascade by 3.0% during the fourth quarter. Bank of New York Mellon Corp now owns 446,350 shares of the construction company’s stock valued at $53,053,000 after buying an additional 12,963 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Boise Cascade by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 443,691 shares of the construction company’s stock worth $52,737,000 after buying an additional 6,182 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Boise Cascade by 8.7% during the 4th quarter. Invesco Ltd. now owns 358,368 shares of the construction company’s stock worth $42,596,000 after acquiring an additional 28,814 shares during the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Stock Performance

Shares of NYSE:BCC opened at $93.37 on Friday. The firm has a 50 day moving average of $101.64 and a 200 day moving average of $122.41. 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 company has a market capitalization of $3.55 billion, a price-to-earnings ratio of 9.77 and a beta of 1.52. Boise Cascade has a 52 week low of $87.84 and a 52 week high of $155.42.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $1.57 billion. On average, sell-side analysts predict that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.90%. The ex-dividend date was Monday, February 24th. Boise Cascade’s payout ratio is 8.79%.

Insider Activity

In other news, 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 completion of the sale, the director now owns 13,099 shares of the company’s stock, valued at $1,351,292.84. This trade represents a 4.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey Robert Strom sold 4,500 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total value 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 approximately $3,810,585.46. This trade represents a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.11% of the company’s stock.

Analyst Ratings Changes

BCC has been the topic of a number of recent analyst reports. BMO Capital Markets reduced their target price on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 25th. DA Davidson lowered their price objective 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. Truist Financial reduced their target price 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 reiterated a “hold” rating on shares of Boise Cascade in a report on Tuesday, February 25th. Finally, Loop Capital reduced their price objective on Boise Cascade from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Monday, April 14th. One equities research 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’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $127.67.

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.