Troy Little Sells 2,033 Shares of Boise Cascade, L.L.C. (NYSE:BCC) Stock

Key Points

• Troy Little, EVP of Boise Cascade, sold 2,033 shares of the company’s stock for a total of $168,942.30, reducing his ownership by 13.80% and bringing his remaining shares to 12,701.
• Boise Cascade reported Q2 earnings of $1.64 per share, missing analyst estimates by $0.05, with a revenue of $1.74 billion, down 3.2% compared to the previous year.
• The company announced a dividend increase to $0.22 per share, up from $0.21, with the next payment scheduled for September 17th, indicating a yield of 1.1%.

Boise Cascade, L.L.C. (NYSE:BCC - Get Free Report) EVP Troy Little sold 2,033 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $83.10, for a total value of $168,942.30. Following the completion of the transaction, the executive vice president owned 12,701 shares in the company, valued at $1,055,453.10. This trade represents a 13.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Boise Cascade Trading Down 1.9%

Shares of NYSE:BCC traded down $1.52 during midday trading on Monday, reaching $80.57. 21,714 shares of the company's stock were exchanged, compared to its average volume of 353,522. Boise Cascade, L.L.C. has a fifty-two week low of $80.30 and a fifty-two week high of $155.42. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 11.84, a P/E/G ratio of 4.88 and a beta of 1.28. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.96 and a quick ratio of 1.54. The firm's 50 day simple moving average is $87.31 and its two-hundred day simple moving average is $96.57.

Boise Cascade (NYSE:BCC - Get Free Report) last released its earnings results on Monday, August 4th. The construction company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.05). The business had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.76 billion. Boise Cascade had a return on equity of 12.26% and a net margin of 4.00%. The business's quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.84 earnings per share. As a group, sell-side analysts forecast that Boise Cascade, L.L.C. will post 10.15 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.22 per share. This is a boost from Boise Cascade's previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, September 2nd. This represents a $0.88 dividend on an annualized basis and a yield of 1.1%. Boise Cascade's dividend payout ratio is currently 12.33%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BCC. Vise Technologies Inc. boosted its position in shares of Boise Cascade by 3.4% during the 4th quarter. Vise Technologies Inc. now owns 3,021 shares of the construction company's stock worth $359,000 after purchasing an additional 100 shares in the last quarter. SummerHaven Investment Management LLC boosted its position in Boise Cascade by 1.7% during the first quarter. SummerHaven Investment Management LLC now owns 6,708 shares of the construction company's stock valued at $658,000 after buying an additional 114 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of Boise Cascade by 5.7% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,800 shares of the construction company's stock worth $243,000 after acquiring an additional 152 shares during the period. Peak Financial Advisors LLC increased its position in shares of Boise Cascade by 4.8% during the first quarter. Peak Financial Advisors LLC now owns 3,624 shares of the construction company's stock valued at $355,000 after acquiring an additional 166 shares in the last quarter. Finally, Quarry LP grew its position in Boise Cascade by 502.4% in the 4th quarter. Quarry LP now owns 253 shares of the construction company's stock worth $30,000 after purchasing an additional 211 shares during the period. 96.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BCC has been the subject of several recent research reports. Truist Financial lowered their price target on Boise Cascade from $106.00 to $101.00 and set a "buy" rating for the company in a report on Thursday. Loop Capital dropped their price target on shares of Boise Cascade from $140.00 to $135.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. BMO Capital Markets decreased their price target on shares of Boise Cascade from $114.00 to $108.00 and set a "market perform" rating on the stock in a research report on Thursday. Bank of America decreased their target price on shares of Boise Cascade from $111.00 to $107.00 and set a "buy" rating for the company in a research note on Wednesday, July 9th. Finally, DA Davidson cut their price objective on shares of Boise Cascade from $115.00 to $100.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $112.83.

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.