Corebridge Financial Inc. Sells 1,982 Shares of Boise Cascade (NYSE:BCC)

Corebridge Financial Inc. decreased its position in Boise Cascade (NYSE:BCC) by 8.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 20,723 shares of the construction company’s stock after selling 1,982 shares during the period. Corebridge Financial Inc. owned about 0.05% of Boise Cascade worth $2,463,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tidal Investments LLC grew its position in shares of Boise Cascade by 341.9% in the 3rd quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock worth $2,229,000 after buying an additional 12,231 shares during the last quarter. Fulcrum Capital LLC purchased a new stake in Boise Cascade in the fourth quarter worth $1,092,000. D.A. Davidson & CO. boosted its holdings in Boise Cascade by 4.2% in the fourth quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company’s stock valued at $388,000 after acquiring an additional 133 shares in the last quarter. Nordea Investment Management AB increased its position in Boise Cascade by 5.0% during the 4th quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company’s stock valued at $14,454,000 after purchasing an additional 5,779 shares during the period. Finally, 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 in the last quarter. 96.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. BMO Capital Markets reduced their price target on shares of 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 reduced their price target on Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. The Goldman Sachs Group lowered their price objective on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Benchmark reaffirmed a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. Finally, Loop Capital lowered their price target on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, February 24th. One research 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 stock presently has a consensus rating of “Hold” and a consensus target price of $128.50.

Boise Cascade Stock Performance

Shares of BCC stock opened at $98.65 on Wednesday. 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 company has a market capitalization of $3.74 billion, a price-to-earnings ratio of 10.32 and a beta of 1.67. Boise Cascade has a one year low of $95.30 and a one year high of $155.42. The company’s 50-day moving average is $111.07 and its 200 day moving average is $126.93.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share 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 firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion. Sell-side analysts expect that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Monday, February 24th. Boise Cascade’s dividend payout ratio is currently 8.79%.

Insider Activity

In other news, Director Kristopher J. Matula sold 553 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total transaction of $57,047.48. Following the completion of the transaction, the director now directly owns 13,099 shares of the company’s stock, valued at $1,351,292.84. The trade was a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey Robert Strom sold 4,500 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $3,810,585.46. This represents a 10.58 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.98% 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.