Acadian Asset Management LLC Trims Stock Holdings 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 trimmed its stake in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 12.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 710,549 shares of the construction company's stock after selling 99,274 shares during the quarter. Acadian Asset Management LLC owned approximately 1.89% of Boise Cascade worth $69,686,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in shares of Boise Cascade by 93.7% in the first quarter. Blue Trust Inc. now owns 918 shares of the construction company's stock worth $90,000 after acquiring an additional 444 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Boise Cascade by 60.6% in the first quarter. GAMMA Investing LLC now owns 1,458 shares of the construction company's stock worth $143,000 after acquiring an additional 550 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Boise Cascade by 50.8% in the first quarter. Assenagon Asset Management S.A. now owns 23,699 shares of the construction company's stock worth $2,325,000 after acquiring an additional 7,983 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new position in shares of Boise Cascade in the fourth quarter worth $728,000. Finally, Deutsche Bank AG raised its holdings in shares of Boise Cascade by 69.0% in the first quarter. Deutsche Bank AG now owns 62,823 shares of the construction company's stock worth $6,162,000 after acquiring an additional 25,656 shares during the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BCC has been the subject of several analyst reports. DA Davidson dropped their target price on Boise Cascade from $115.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Bank of America dropped their target price on Boise Cascade from $111.00 to $107.00 and set a "buy" rating for the company in a research note on Wednesday, July 9th. Truist Financial dropped their target price on Boise Cascade from $106.00 to $101.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Finally, BMO Capital Markets dropped their target price on Boise Cascade from $114.00 to $108.00 and set a "market perform" rating for the company in a research note on Thursday, August 7th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $112.83.

Insider Transactions at Boise Cascade

In related news, SVP Jill Twedt sold 1,782 shares of the 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 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Jeffrey Robert Strom sold 1,000 shares of the 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 $3,371,587.56. This represents a 2.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,815 shares of company stock valued at $409,637 over the last quarter. Company insiders own 0.98% of the company's stock.

Boise Cascade Trading Down 3.7%

NYSE:BCC traded down $3.28 on Friday, hitting $85.73. 227,540 shares of the stock were exchanged, compared to its average volume of 325,653. The stock has a market cap of $3.20 billion, a PE ratio of 12.59, a PEG ratio of 5.30 and a beta of 1.33. The company has a current ratio of 2.96, a quick ratio of 1.54 and a debt-to-equity ratio of 0.21. The stock has a fifty day moving average of $86.71 and a 200-day moving average of $90.85. 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 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). Boise Cascade had a return on equity of 12.26% and a net margin of 4.00%.The company had revenue of $1.74 billion during 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 quarterly revenue was down 3.2% on a year-over-year basis. As a group, equities analysts expect that Boise Cascade, L.L.C. will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders 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 is a positive change from Boise Cascade's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 1.0%. Boise Cascade's dividend payout ratio (DPR) is currently 12.92%.

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.