Hsbc Holdings PLC Reduces Position in Boise Cascade, L.L.C. $BCC

Hsbc Holdings PLC decreased its holdings in Boise Cascade, L.L.C. (NYSE:BCC) by 67.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,041 shares of the construction company’s stock after selling 46,055 shares during the period. Hsbc Holdings PLC’s holdings in Boise Cascade were worth $1,623,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its holdings in Boise Cascade by 231.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock valued at $29,000 after acquiring an additional 259 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Boise Cascade by 77.5% in the fourth quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock worth $30,000 after acquiring an additional 179 shares during the period. Advisory Services Network LLC bought a new position in shares of Boise Cascade in the third quarter worth $38,000. UMB Bank n.a. grew its position in shares of Boise Cascade by 98.5% in the fourth quarter. UMB Bank n.a. now owns 524 shares of the construction company’s stock valued at $39,000 after purchasing an additional 260 shares in the last quarter. Finally, Signaturefd LLC grew its position in shares of Boise Cascade by 5,866.7% in the fourth quarter. Signaturefd LLC now owns 537 shares of the construction company’s stock valued at $40,000 after purchasing an additional 528 shares in the last quarter. Institutional investors own 96.18% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Weiss Ratings raised Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Truist Financial set a $97.00 target price on Boise Cascade in a report on Wednesday, May 6th. Zacks Research upgraded Boise Cascade from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Finally, DA Davidson lowered their price target on shares of Boise Cascade from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.00.

Boise Cascade Stock Down 2.1%

BCC opened at $77.59 on Wednesday. The firm has a market capitalization of $2.73 billion, a P/E ratio of 26.21, a price-to-earnings-growth ratio of 1.18 and a beta of 1.09. Boise Cascade, L.L.C. has a one year low of $65.00 and a one year high of $95.00. The company has a fifty day moving average price of $72.91 and a 200-day moving average price of $76.90. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.77 and a quick ratio of 1.37.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Monday, May 4th. The construction company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.07. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.46 billion. Boise Cascade had a return on equity of 5.55% and a net margin of 1.73%.The firm’s revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.06 earnings per share. Equities research analysts expect that Boise Cascade, L.L.C. will post 3.67 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Monday, June 1st were issued a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.88 annualized dividend and a dividend yield of 1.1%. Boise Cascade’s dividend payout ratio (DPR) is presently 29.73%.

Insider Buying and Selling at Boise Cascade

In other news, SVP Jill Twedt sold 6,070 shares of Boise Cascade stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $66.45, for a total transaction of $403,351.50. Following the completion of the sale, the senior vice president owned 26,545 shares in the company, valued at approximately $1,763,915.25. This trade represents a 18.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.42% of the stock is currently owned by insiders.

Boise Cascade Company Profile

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company’s operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.