Boise Cascade, L.L.C. (NYSE:BCC) EVP Sells $168,942.30 in 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 that occurred on Thursday, August 7th. The shares were sold at an average price of $83.10, for a total transaction of $168,942.30. Following the completion of the transaction, the executive vice president owned 12,701 shares of the company's stock, valued at $1,055,453.10. The trade was a 13.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Boise Cascade Stock Up 0.3%

BCC traded up $0.27 during trading on Thursday, hitting $83.19. 376,352 shares of the company's stock were exchanged, compared to its average volume of 355,955. 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 $3.11 billion, a P/E ratio of 12.22, a PEG ratio of 4.23 and a beta of 1.28. The business's 50 day moving average is $87.50 and its two-hundred day moving average is $97.64. The company has a quick ratio of 1.51, a current ratio of 2.96 and a debt-to-equity ratio of 0.21.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $1.76 billion. Boise Cascade had a net margin of 4.00% and a return on equity of 12.26%. Boise Cascade's revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.84 EPS. As a group, equities analysts expect that Boise Cascade, L.L.C. will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd will be paid 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 annualized dividend and a yield of 1.1%. Boise Cascade's dividend payout ratio (DPR) is 10.49%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Boise Cascade

A number of hedge funds have recently bought and sold shares of the company. Campbell & CO Investment Adviser LLC raised its holdings in shares of Boise Cascade by 6.2% in the second quarter. Campbell & CO Investment Adviser LLC now owns 27,344 shares of the construction company's stock valued at $2,374,000 after purchasing an additional 1,591 shares during the last quarter. First Eagle Investment Management LLC increased its stake in Boise Cascade by 68.5% in the 2nd quarter. First Eagle Investment Management LLC now owns 77,253 shares of the construction company's stock valued at $6,707,000 after buying an additional 31,400 shares during the last quarter. Huntington National Bank lifted its position in shares of Boise Cascade by 630.0% during the 2nd quarter. Huntington National Bank now owns 438 shares of the construction company's stock worth $38,000 after buying an additional 378 shares in the last quarter. Mission Wealth Management LP boosted its stake in shares of Boise Cascade by 6.2% in the 2nd quarter. Mission Wealth Management LP now owns 8,206 shares of the construction company's stock worth $712,000 after buying an additional 477 shares during the last quarter. Finally, Strs Ohio grew its holdings in shares of Boise Cascade by 7.3% in the second quarter. Strs Ohio now owns 11,700 shares of the construction company's stock valued at $1,016,000 after acquiring an additional 800 shares in the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.