5,000 Shares in Boise Cascade, L.L.C. (NYSE:BCC) Bought by Entropy Technologies LP

Key Points

• Entropy Technologies LP has acquired 5,000 shares of Boise Cascade, valued at approximately $490,000, indicating growing institutional interest in the company.
• Several brokerages have recently adjusted their price targets for Boise Cascade, with most now set between $100 and $108, while the stock holds an average rating of "Moderate Buy."
• Boise Cascade declared a quarterly dividend increase to $0.22 per share, reflecting a positive shift from the previous dividend of $0.21, with a dividend yield of 1.0%.

Entropy Technologies LP purchased a new position in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,000 shares of the construction company's stock, valued at approximately $490,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BCC. LPL Financial LLC raised its stake in Boise Cascade by 29.1% during the 4th quarter. LPL Financial LLC now owns 14,127 shares of the construction company's stock worth $1,679,000 after acquiring an additional 3,187 shares in the last quarter. Wells Fargo & Company MN raised its stake in Boise Cascade by 9.2% during the 4th quarter. Wells Fargo & Company MN now owns 90,347 shares of the construction company's stock worth $10,739,000 after acquiring an additional 7,578 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Boise Cascade by 6.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 134,715 shares of the construction company's stock worth $16,012,000 after acquiring an additional 8,357 shares in the last quarter. Invesco Ltd. raised its stake in Boise Cascade by 8.7% during the 4th quarter. Invesco Ltd. now owns 358,368 shares of the construction company's stock worth $42,596,000 after acquiring an additional 28,814 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Boise Cascade during the 4th quarter worth $1,601,000. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on BCC. BMO Capital Markets cut 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 note on Thursday, August 7th. Bank of America dropped their price objective on shares of Boise Cascade from $111.00 to $107.00 and set a "buy" rating on the stock in a research note on Wednesday, July 9th. Truist Financial dropped their price objective on shares of Boise Cascade from $106.00 to $101.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Finally, DA Davidson dropped their price objective on shares of Boise Cascade from $115.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Boise Cascade has an average rating of "Moderate Buy" and an average target price of $112.83.

Insider Transactions at Boise Cascade

In other news, SVP Jill Twedt sold 1,782 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $83.97, for a total transaction of $149,634.54. Following the transaction, the senior vice president directly owned 32,867 shares in the company, valued at $2,759,841.99. The trade was a 5.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Troy Little sold 2,033 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $83.10, for a total transaction of $168,942.30. Following the transaction, the executive vice president owned 12,701 shares in the company, valued at approximately $1,055,453.10. This trade represents a 13.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,015 shares of company stock worth $511,869 over the last ninety days. 0.98% of the stock is currently owned by company insiders.

Boise Cascade Trading Up 4.6%

NYSE BCC opened at $88.16 on Thursday. Boise Cascade, L.L.C. has a one year low of $80.01 and a one year high of $155.42. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.54 and a current ratio of 2.96. The firm's fifty day moving average is $87.18 and its two-hundred day moving average is $96.10. The firm has a market cap of $3.29 billion, a PE ratio of 12.95, a P/E/G ratio of 5.01 and a beta of 1.28.

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

Boise Cascade Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.0%. This is a positive change from Boise Cascade's previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, September 2nd. Boise Cascade's dividend payout ratio (DPR) is presently 12.33%.

Boise Cascade 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.

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