Aigen Investment Management LP Invests $434,000 in Boise Cascade, L.L.C. (NYSE:BCC)

Key Points

• Aigen Investment Management LP has acquired 4,427 shares of Boise Cascade, L.L.C., valued at approximately $434,000, indicating growing institutional interest in the company.
• Boise Cascade recently declared a quarterly dividend increase to $0.22 per share, reflecting a strong dividend commitment with a yield of 1.0% and a payout ratio of 12.33%.
• The company's latest earnings report showed a miss in EPS estimates, with $1.64 reported versus the expected $1.69, and a revenue decline of 3.2% compared to the previous year.

Aigen Investment Management LP bought a new stake in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,427 shares of the construction company's stock, valued at approximately $434,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BCC. Quarry LP lifted its stake in shares of Boise Cascade by 502.4% during the fourth quarter. Quarry LP now owns 253 shares of the construction company's stock worth $30,000 after purchasing an additional 211 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Boise Cascade by 338.5% during the first quarter. Farther Finance Advisors LLC now owns 478 shares of the construction company's stock worth $47,000 after purchasing an additional 369 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Boise Cascade by 93.7% during the first quarter. Blue Trust Inc. now owns 918 shares of the construction company's stock worth $90,000 after purchasing an additional 444 shares in the last quarter. Curat Global LLC acquired a new position in shares of Boise Cascade during the first quarter worth about $122,000. Finally, GAMMA Investing LLC lifted its stake in shares of Boise Cascade by 60.6% during the first quarter. GAMMA Investing LLC now owns 1,458 shares of the construction company's stock worth $143,000 after purchasing an additional 550 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on BCC. BMO Capital Markets reduced their price objective on Boise Cascade from $114.00 to $108.00 and set a "market perform" rating on the stock in a research note on Thursday, August 7th. Truist Financial reduced their price objective on Boise Cascade from $106.00 to $101.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. DA Davidson reduced their price objective on Boise Cascade from $115.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Finally, Bank of America cut their price target on Boise Cascade from $111.00 to $107.00 and set a "buy" rating on the stock 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 company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $112.83.

Insiders Place Their Bets

In other news, SVP Jill Twedt sold 1,782 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $83.97, for a total transaction of $149,634.54. Following the completion of the sale, the senior vice president owned 32,867 shares of the company's stock, valued at approximately $2,759,841.99. This trade represents a 5.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Troy Little sold 2,033 shares of the firm'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 sale, the executive vice president directly owned 12,701 shares of the company's stock, valued at approximately $1,055,453.10. This represents a 13.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,015 shares of company stock worth $511,869 over the last quarter. Company insiders own 0.98% of the company's stock.

Boise Cascade Stock Down 0.4%

NYSE:BCC traded down $0.38 during trading hours on Friday, hitting $86.24. 807,947 shares of the stock traded hands, compared to its average volume of 384,836. The firm has a 50 day moving average price of $87.16 and a 200 day moving average price of $95.53. The company has a current ratio of 2.96, a quick ratio of 1.54 and a debt-to-equity ratio of 0.21. Boise Cascade, L.L.C. has a fifty-two week low of $80.01 and a fifty-two week high of $155.42. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 5.15 and a beta of 1.28.

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

Boise Cascade Increases Dividend

The firm also recently declared 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 positive change from Boise Cascade's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, September 2nd. Boise Cascade's dividend payout ratio is 12.33%.

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.