Bank of Montreal Can Cuts Stock Holdings in Boise Cascade (NYSE:BCC)

Bank of Montreal Can lowered its stake in Boise Cascade (NYSE:BCC) by 93.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,768 shares of the construction company’s stock after selling 118,791 shares during the quarter. Bank of Montreal Can’s holdings in Boise Cascade were worth $923,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BCC. American Century Companies Inc. boosted its position in shares of Boise Cascade by 12.0% during the 4th quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock valued at $134,831,000 after acquiring an additional 121,790 shares during the last quarter. Norges Bank bought a new position in Boise Cascade during the fourth quarter valued at $55,680,000. Bank of New York Mellon Corp grew its stake in shares of Boise Cascade by 3.0% in the 4th quarter. Bank of New York Mellon Corp now owns 446,350 shares of the construction company’s stock worth $53,053,000 after buying an additional 12,963 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Boise Cascade by 1.4% in the 4th 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 last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Boise Cascade by 2.6% during the 4th quarter. Principal Financial Group Inc. now owns 208,323 shares of the construction company’s stock valued at $24,761,000 after buying an additional 5,281 shares in the last quarter. Institutional investors own 96.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BCC shares. Benchmark reiterated a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. DA Davidson cut their target price on Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Loop Capital lowered their price target on Boise Cascade from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, April 14th. The Goldman Sachs Group dropped their price objective on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Finally, BMO Capital Markets reduced their target price on shares of 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $127.67.

Boise Cascade Stock Performance

BCC stock opened at $93.37 on Friday. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 9.77 and a beta of 1.52. Boise Cascade has a twelve month low of $87.84 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 business’s fifty day simple moving average is $101.64 and its two-hundred day simple moving average is $122.41.

Boise Cascade (NYSE:BCC) last announced 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). The company had revenue of $1.57 billion for 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%. Analysts predict that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Dividend Announcement

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

Insider Buying and Selling

In related news, Director Kristopher J. Matula sold 553 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were 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 of the company’s stock, valued at $1,351,292.84. This represents a 4.05 % 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, COO Jeffrey Robert Strom sold 4,500 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total transaction of $450,945.00. Following the transaction, the chief operating officer now owns 38,026 shares in the company, valued at approximately $3,810,585.46. The trade was a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.11% of the stock is owned by insiders.

Boise Cascade Company 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.