Parallel Advisors LLC Sells 116 Shares of Boise Cascade (NYSE:BCC)

Parallel Advisors LLC reduced its position in shares of Boise Cascade (NYSE:BCC) by 9.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,060 shares of the construction company’s stock after selling 116 shares during the quarter. Parallel Advisors LLC’s holdings in Boise Cascade were worth $104,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Westwood Holdings Group Inc. boosted its position in shares of Boise Cascade by 3.9% during the 4th quarter. Westwood Holdings Group Inc. now owns 1,192,621 shares of the construction company’s stock valued at $141,755,000 after acquiring an additional 45,010 shares during the last quarter. American Century Companies Inc. lifted its position in Boise Cascade by 12.0% in the fourth quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock worth $134,831,000 after buying an additional 121,790 shares during the last quarter. First Trust Advisors LP lifted its position in Boise Cascade by 37.9% in the fourth quarter. First Trust Advisors LP now owns 712,527 shares of the construction company’s stock worth $84,691,000 after buying an additional 195,773 shares during the last quarter. Northern Trust Corp lifted its position in Boise Cascade by 17.8% in the fourth quarter. Northern Trust Corp now owns 483,165 shares of the construction company’s stock worth $57,429,000 after buying an additional 73,061 shares during the last quarter. Finally, Norges Bank bought a new stake in Boise Cascade in the fourth quarter worth $55,680,000. 96.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BCC. 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. DA Davidson lowered their price target on 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 lowered their price target on Boise Cascade from $134.00 to $118.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Benchmark reiterated a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Finally, 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Boise Cascade has an average rating of “Hold” and a consensus price target of $125.00.

Boise Cascade Stock Performance

BCC stock opened at $86.71 on Friday. 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 $91.60 and its two-hundred day simple moving average is $110.72. Boise Cascade has a twelve month low of $83.86 and a twelve month high of $155.42. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 9.07 and a beta of 1.36.

Boise Cascade (NYSE:BCC) last released its earnings results on Monday, May 5th. The construction company reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.30). The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.61 EPS. Analysts predict that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.84 annualized dividend and a dividend yield of 0.97%. Boise Cascade’s dividend payout ratio is currently 10.49%.

Insider Activity

In other news, SVP Jill Twedt sold 1,200 shares of the firm’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $88.01, for a total transaction of $105,612.00. Following the transaction, the senior vice president now owns 34,649 shares in the company, valued at approximately $3,049,458.49. This trade represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Joanna L. Barney sold 1,000 shares of the firm’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $87.68, for a total value of $87,680.00. Following the transaction, the executive vice president now owns 12,372 shares in the company, valued at approximately $1,084,776.96. This represents a 7.48% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.98% of the company’s stock.

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.