Jefferies Financial Group Inc. Takes 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 Boise Cascade, L.L.C. (NYSE:BCC - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 8,328 shares of the construction company's stock, valued at approximately $817,000.

Several other hedge funds have also added to or reduced their stakes in BCC. Vise Technologies Inc. grew its stake in shares of Boise Cascade by 3.4% during the fourth quarter. Vise Technologies Inc. now owns 3,021 shares of the construction company's stock worth $359,000 after purchasing an additional 100 shares during the period. SummerHaven Investment Management LLC boosted its stake in shares of Boise Cascade by 1.7% during the 1st quarter. SummerHaven Investment Management LLC now owns 6,708 shares of the construction company's stock worth $658,000 after buying an additional 114 shares during the last quarter. Peak Financial Advisors LLC grew its stake in Boise Cascade by 4.8% in the first quarter. Peak Financial Advisors LLC now owns 3,624 shares of the construction company's stock valued at $355,000 after purchasing an additional 166 shares in the last quarter. Quarry LP increased its holdings in 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 buying an additional 211 shares during the last quarter. Finally, Mission Wealth Management LP increased its stake in shares of Boise Cascade by 4.4% during the 1st quarter. Mission Wealth Management LP now owns 7,729 shares of the construction company's stock worth $758,000 after purchasing an additional 327 shares during the last quarter. Institutional investors own 96.18% of the company's stock.

Boise Cascade Stock Up 0.3%

NYSE BCC traded up $0.27 during mid-day trading on Thursday, reaching $83.19. The stock had a trading volume of 376,352 shares, compared to its average volume of 389,212. The stock has a market cap of $3.11 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 4.04 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 1.51. Boise Cascade, L.L.C. has a 1 year low of $80.30 and a 1 year high of $155.42. The company has a fifty day moving average price of $87.41 and a 200 day moving average price of $97.33.

Boise Cascade (NYSE:BCC - Get Free Report) last released its quarterly 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 net margin of 4.00% and a return on equity of 12.26%. The business had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.76 billion. During the same period in the previous year, the company earned $2.84 EPS. Boise Cascade's revenue for the quarter was down 3.2% compared to the same quarter last year. On average, research analysts expect that Boise Cascade, L.L.C. will post 10.15 earnings per share for the current year.

Boise Cascade Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders 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 yield of 1.1%. This is an increase from Boise Cascade's previous quarterly dividend of $0.21. Boise Cascade's payout ratio is presently 10.49%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Truist Financial cut their price objective on shares of Boise Cascade from $106.00 to $101.00 and set a "buy" rating for the company in a report on Thursday. Bank of America reduced their target price on Boise Cascade from $111.00 to $107.00 and set a "buy" rating on the stock in a report on Wednesday, July 9th. DA Davidson cut their target price 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. BMO Capital Markets lowered their target price on shares of Boise Cascade from $114.00 to $108.00 and set a "market perform" rating on the stock in a report on Thursday. Finally, Loop Capital reduced their target price on Boise Cascade from $140.00 to $135.00 and set a "buy" rating for the company in a report on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $112.83.

Insider Buying and Selling at Boise Cascade

In other news, EVP Joanna L. Barney sold 1,000 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $87.68, for a total value of $87,680.00. Following the sale, the executive vice president directly owned 12,372 shares in the company, valued at $1,084,776.96. The trade was a 7.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 transaction of $149,634.54. Following the completion of the sale, the senior vice president directly owned 32,867 shares in the company, valued at approximately $2,759,841.99. This represents a 5.14% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,015 shares of company stock worth $511,869. 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.