Comerica Bank Has $2.85 Million Stock Position in Boise Cascade (NYSE:BCC)

Comerica Bank cut its holdings in Boise Cascade (NYSE:BCC) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,994 shares of the construction company’s stock after selling 408 shares during the quarter. Comerica Bank’s holdings in Boise Cascade were worth $2,852,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BCC. R Squared Ltd acquired a new stake in shares of Boise Cascade in the 4th quarter valued at approximately $29,000. Quarry LP lifted its stake in Boise Cascade by 502.4% in the 4th quarter. Quarry LP now owns 253 shares of the construction company’s stock valued at $30,000 after purchasing an additional 211 shares during the last quarter. Principal Securities Inc. boosted its position in Boise Cascade by 44.2% in the fourth quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock valued at $56,000 after buying an additional 145 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Boise Cascade by 254.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company’s stock worth $92,000 after buying an additional 558 shares during the last quarter. Finally, PEAK6 LLC acquired a new position in shares of Boise Cascade during the fourth quarter worth $201,000. Institutional investors own 96.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BCC shares. Benchmark reissued a “hold” rating on shares of Boise Cascade in a 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 report on Monday, February 24th. Truist Financial dropped their price objective on shares of Boise Cascade from $134.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Loop Capital reduced their target price on shares of Boise Cascade from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, BMO Capital Markets dropped their price target on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a research note on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $125.00.

Insider Buying and Selling at Boise Cascade

In other news, Director Kristopher J. Matula sold 553 shares of the business’s stock in a transaction dated 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 sale, 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 legal filing with the SEC, which is available at this link. Also, COO Jeffrey Robert Strom sold 4,500 shares of Boise Cascade 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 transaction, the chief operating officer now owns 38,026 shares of the company’s stock, valued at $3,810,585.46. This trade represents a 10.58 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.11% of the company’s stock.

Boise Cascade Trading Down 0.4 %

NYSE:BCC opened at $87.17 on Thursday. Boise Cascade has a 52 week low of $84.53 and a 52 week high of $155.42. The firm’s fifty day moving average is $96.45 and its 200-day moving average is $118.17. The firm has a market cap of $3.32 billion, a P/E ratio of 9.12 and a beta of 1.43. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34.

Boise Cascade (NYSE:BCC) last issued its quarterly 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 for the quarter, compared to analyst estimates 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 was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.61 earnings per share. Equities analysts expect that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, June 2nd will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.96%. Boise Cascade’s payout ratio is presently 10.49%.

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.