Acadian Asset Management LLC Decreases Stake in Boise Cascade, L.L.C. $BCC

Key Points

• Acadian Asset Management LLC has reduced its stake in Boise Cascade by 12.3%, now holding approximately 710,549 shares valued at about $69.68 million.
• Boise Cascade announced an increase in its quarterly dividend to $0.22, up from $0.21, representing a 1.0% yield and indicating healthy cash flow.
• Wall Street analysts have adjusted their price targets for Boise Cascade, with a consensus price target of $112.83 and ratings reflecting a mix of 'Buy' and 'Hold' recommendations.

Acadian Asset Management LLC lessened its stake in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 12.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 710,549 shares of the construction company's stock after selling 99,274 shares during the period. Acadian Asset Management LLC owned about 1.89% of Boise Cascade worth $69,686,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BCC. Northwestern Mutual Wealth Management Co. lifted its position in shares of Boise Cascade by 120.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 406 shares of the construction company's stock valued at $40,000 after buying an additional 222 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Boise Cascade by 338.5% during the 1st quarter. Farther Finance Advisors LLC now owns 478 shares of the construction company's stock valued at $47,000 after buying an additional 369 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Boise Cascade by 93.7% during the 1st quarter. Blue Trust Inc. now owns 918 shares of the construction company's stock valued at $90,000 after buying an additional 444 shares in the last quarter. Curat Global LLC purchased a new position in shares of Boise Cascade during the 1st quarter valued at approximately $122,000. Finally, GAMMA Investing LLC lifted its position in shares of Boise Cascade by 60.6% during the 1st quarter. GAMMA Investing LLC now owns 1,458 shares of the construction company's stock valued at $143,000 after buying an additional 550 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company's stock.

Boise Cascade Trading Down 2.8%

Shares of NYSE:BCC traded down $2.39 during midday trading on Tuesday, reaching $82.74. 154,680 shares of the company's stock were exchanged, compared to its average volume of 351,476. The firm's 50 day simple moving average is $86.61 and its two-hundred day simple moving average is $90.64. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.96 and a quick ratio of 1.54. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of 12.15, a P/E/G ratio of 5.10 and a beta of 1.33. Boise Cascade, L.L.C. has a fifty-two week low of $80.01 and a fifty-two week high of $155.42.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.76 billion. Boise Cascade had a return on equity of 12.26% and a net margin of 4.00%.The firm's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.84 earnings per share. As a group, sell-side analysts forecast that Boise Cascade, L.L.C. will post 10.15 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.88 annualized dividend and a yield of 1.1%. This is an increase from Boise Cascade's previous quarterly dividend of $0.21. Boise Cascade's dividend payout ratio is presently 12.92%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Bank of America decreased their target price 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. Truist Financial decreased their price objective on Boise Cascade from $106.00 to $101.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. DA Davidson decreased their price objective 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, BMO Capital Markets restated a "market perform" rating and issued a $100.00 price objective on shares of Boise Cascade in a report on Tuesday. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $111.50.

Insider Buying and Selling at Boise Cascade

In other Boise Cascade news, SVP Jill Twedt sold 1,782 shares of Boise Cascade stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $83.97, for a total value of $149,634.54. Following the completion of the transaction, the senior vice president directly owned 32,867 shares of the company's stock, valued at $2,759,841.99. The trade was a 5.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jeffrey Robert Strom sold 1,000 shares of Boise Cascade stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $91.06, for a total value of $91,060.00. Following the completion of the transaction, the chief operating officer directly owned 37,026 shares of the company's stock, valued at approximately $3,371,587.56. This represents a 2.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,815 shares of company stock valued at $409,637 in the last three months. 1.11% of the stock is owned by corporate insiders.

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.