PNC Financial Services Group Inc. Has $292,000 Stake in Boise Cascade (NYSE:BCC)

PNC Financial Services Group Inc. cut its stake in shares of Boise Cascade (NYSE:BCC) by 6.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,260 shares of the construction company’s stock after selling 162 shares during the period. PNC Financial Services Group Inc.’s holdings in Boise Cascade were worth $292,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. USA Financial Formulas grew its holdings in shares of Boise Cascade by 5,050.0% during the 4th quarter. USA Financial Formulas now owns 206 shares of the construction company’s stock valued at $27,000 after acquiring an additional 202 shares in the last quarter. Principal Securities Inc. acquired a new stake in Boise Cascade in the 4th quarter worth approximately $27,000. Global Retirement Partners LLC boosted its position in Boise Cascade by 1,147.1% during the fourth quarter. Global Retirement Partners LLC now owns 212 shares of the construction company’s stock worth $28,000 after purchasing an additional 195 shares during the period. Scarborough Advisors LLC acquired a new position in Boise Cascade during the fourth quarter valued at approximately $36,000. Finally, Blue Trust Inc. grew its holdings in Boise Cascade by 58.1% during the fourth quarter. Blue Trust Inc. now owns 544 shares of the construction company’s stock valued at $70,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Stock Up 0.5 %

BCC opened at $119.22 on Monday. The business has a 50 day moving average of $132.32 and a 200-day moving average of $134.62. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of 9.69 and a beta of 1.57. The company has a current ratio of 3.24, a quick ratio of 2.05 and a debt-to-equity ratio of 0.21. Boise Cascade has a 1-year low of $86.43 and a 1-year high of $154.67.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Monday, May 6th. The construction company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.31. Boise Cascade had a net margin of 7.08% and a return on equity of 22.00%. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the firm earned $2.43 EPS. The business’s revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Boise Cascade will post 10.84 earnings per share for the current year.

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend was Monday, June 3rd. Boise Cascade’s dividend payout ratio (DPR) is presently 6.50%.

Analysts Set New Price Targets

Several research firms recently issued reports on BCC. Truist Financial upped their price objective on shares of Boise Cascade from $156.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. StockNews.com upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $131.75.

Insider Activity at Boise Cascade

In other Boise Cascade news, EVP Jeffrey Robert Strom sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $135.00, for a total value of $337,500.00. Following the completion of the sale, the executive vice president now owns 43,353 shares in the company, valued at approximately $5,852,655. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Jill Twedt sold 1,852 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $135.00, for a total value of $250,020.00. Following the completion of the transaction, the senior vice president now owns 37,437 shares of the company’s stock, valued at $5,053,995. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey Robert Strom sold 2,500 shares of Boise Cascade stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $135.00, for a total value of $337,500.00. Following the sale, the executive vice president now directly owns 43,353 shares in the company, valued at $5,852,655. The disclosure for this sale can be found here. Insiders have sold 4,352 shares of company stock worth $587,520 over the last three months. Company 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.