Jefferies Financial Group Inc. Takes $817,000 Position in Boise Cascade, L.L.C. (NYSE:BCC)

Key Points

• Jefferies Financial Group Inc. has invested $817,000 in Boise Cascade, acquiring 8,328 shares of the construction company during the first quarter.
• Boise Cascade recently increased its quarterly dividend to $0.22 per share, up from $0.21, representing an annualized yield of 1.1%.
• Analysts have revised their price targets for Boise Cascade, with a consensus rating of "Moderate Buy" and an average target price peaking at $116.00.

Jefferies Financial Group Inc. acquired a new stake in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,328 shares of the construction company's stock, valued at approximately $817,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vise Technologies Inc. raised its holdings in Boise Cascade by 3.4% during the 4th quarter. Vise Technologies Inc. now owns 3,021 shares of the construction company's stock valued at $359,000 after buying an additional 100 shares during the period. SummerHaven Investment Management LLC boosted its holdings in Boise Cascade by 1.7% during the 1st quarter. SummerHaven Investment Management LLC now owns 6,708 shares of the construction company's stock valued at $658,000 after acquiring an additional 114 shares during the period. Peak Financial Advisors LLC boosted its holdings in Boise Cascade by 4.8% during the 1st 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 during the period. Quarry LP boosted its holdings in Boise Cascade by 502.4% during the 4th quarter. Quarry LP now owns 253 shares of the construction company's stock valued at $30,000 after acquiring an additional 211 shares during the period. Finally, Mission Wealth Management LP boosted its holdings in Boise Cascade by 4.4% during the 1st quarter. Mission Wealth Management LP now owns 7,729 shares of the construction company's stock valued at $758,000 after acquiring an additional 327 shares during the period. Institutional investors own 96.18% of the company's stock.

Boise Cascade Stock Down 1.2%

NYSE:BCC traded down $1.03 during midday trading on Friday, reaching $82.16. The company had a trading volume of 337,768 shares, compared to its average volume of 384,619. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 4.59 and a beta of 1.28. The stock's fifty day simple moving average is $87.31 and its 200-day simple moving average is $97.00. Boise Cascade, L.L.C. has a 12-month low of $80.30 and a 12-month high of $155.42. The company has a current ratio of 2.96, a quick ratio of 1.51 and a debt-to-equity ratio of 0.21.

Boise Cascade (NYSE:BCC - Get Free Report) last posted 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 firm had revenue of $1.74 billion during the quarter, compared to analysts' expectations of $1.76 billion. Boise Cascade had a net margin of 4.00% and a return on equity of 12.26%. The firm's revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.84 earnings per share. On average, sell-side analysts anticipate that Boise Cascade, L.L.C. will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. BMO Capital Markets lowered their target price on 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 target price on Boise Cascade from $106.00 to $101.00 and set a "buy" rating on the stock in a research note on Thursday. Bank of America lowered their price target on Boise Cascade from $111.00 to $107.00 and set a "buy" rating on the stock in a research report on Wednesday, July 9th. DA Davidson reduced their target price on Boise Cascade from $115.00 to $100.00 and set a "buy" rating for the company in a report on Friday, July 18th. Finally, Loop Capital cut 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. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $112.83.

Insider Buying and Selling

In related news, EVP Joanna L. Barney sold 1,000 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $87.68, for a total value of $87,680.00. Following the transaction, the executive vice president directly owned 12,372 shares of the company's stock, valued at approximately $1,084,776.96. This trade represents a 7.48% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Jill Twedt sold 1,782 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $83.97, for a total value 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 represents a 5.14% 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 in the last quarter. Company insiders own 0.98% of the company's stock.

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.