Boise Cascade, L.L.C. $BCC Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC lessened its stake in shares of Boise Cascade, L.L.C. (NYSE:BCCFree Report) by 60.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 91,862 shares of the construction company’s stock after selling 143,279 shares during the period. Squarepoint Ops LLC’s holdings in Boise Cascade were worth $7,131,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. WINTON GROUP Ltd acquired a new stake in shares of Boise Cascade during the fourth quarter worth $6,655,000. Pictet Asset Management Holding SA boosted its position in shares of Boise Cascade by 22.2% in the 2nd quarter. Pictet Asset Management Holding SA now owns 117,675 shares of the construction company’s stock valued at $9,135,000 after purchasing an additional 21,362 shares during the period. Verition Fund Management LLC boosted its position in shares of Boise Cascade by 10.4% in the 4th quarter. Verition Fund Management LLC now owns 458,192 shares of the construction company’s stock valued at $33,723,000 after purchasing an additional 43,255 shares during the period. Louisiana State Employees Retirement System purchased a new position in Boise Cascade in the 1st quarter worth about $1,244,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Boise Cascade by 214,282.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 420,189 shares of the construction company’s stock worth $30,926,000 after buying an additional 419,993 shares during the period. 96.18% of the stock is owned by institutional investors.

Boise Cascade Stock Down 1.3%

NYSE:BCC opened at $74.97 on Friday. The business’s fifty day moving average price is $78.92 and its 200 day moving average price is $76.04. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 1.02 and a beta of 1.08. The company has a current ratio of 2.71, a quick ratio of 1.31 and a debt-to-equity ratio of 0.24. Boise Cascade, L.L.C. has a 1-year low of $65.00 and a 1-year high of $91.97.

Boise Cascade (NYSE:BCCGet Free Report) last announced its quarterly earnings data on Monday, August 3rd. The construction company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.40. Boise Cascade had a return on equity of 5.41% and a net margin of 1.64%.The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the company posted $1.64 EPS. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts forecast that Boise Cascade, L.L.C. will post 3.86 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Tuesday, September 1st will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.2%. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, September 1st. Boise Cascade’s payout ratio is currently 31.19%.

Insider Activity at Boise Cascade

In other Boise Cascade news, SVP Jill Twedt sold 1,250 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $79.40, for a total value of $99,250.00. Following the transaction, the senior vice president owned 25,295 shares in the company, valued at approximately $2,008,423. This represents a 4.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kristopher J. Matula sold 1,930 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total transaction of $163,239.40. Following the completion of the transaction, the director owned 13,982 shares in the company, valued at approximately $1,182,597.56. This represents a 12.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.42% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on BCC shares. Weiss Ratings raised shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, August 17th. Zacks Research downgraded shares of Boise Cascade from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. DA Davidson boosted their price target on shares of Boise Cascade from $92.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Bank of America upped their price target on shares of Boise Cascade from $80.00 to $81.00 and gave the company an “underperform” rating in a research report on Tuesday, July 14th. Finally, Wall Street Zen raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $93.60.

Get Our Latest Analysis on Boise Cascade

Boise Cascade Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Boise Cascade (NYSE:BCC)

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