Algert Global LLC Has $12.59 Million Stake in Boise Cascade, L.L.C. $BCC

Key Points

• Algert Global LLC increased its investment in Boise Cascade by 78.0% in the first quarter, acquiring an additional 56,258 shares, bringing its total ownership to 128,390 shares valued at $12.59 million.
• Boise Cascade recently reported a quarterly earnings miss with earnings per share at $1.64, below the consensus estimate of $1.69, and revenue of $1.74 billion, which was short of the expected $1.76 billion.
• The company has announced an increase in its quarterly dividend from $0.21 to $0.22 per share, reflecting a positive trend in its dividend payout ratio, currently at 12.33%.

Algert Global LLC lifted its holdings in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 78.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 128,390 shares of the construction company's stock after acquiring an additional 56,258 shares during the period. Algert Global LLC owned approximately 0.34% of Boise Cascade worth $12,594,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Blue Trust Inc. grew its stake 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 valued at $90,000 after acquiring an additional 444 shares in the last quarter. GAMMA Investing LLC grew its stake 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 valued at $143,000 after acquiring an additional 550 shares in the last quarter. Assenagon Asset Management S.A. grew its stake 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 valued at $2,325,000 after acquiring an additional 7,983 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new position in shares of Boise Cascade in the fourth quarter valued at about $728,000. Finally, Caxton Associates LP acquired a new position in shares of Boise Cascade in the fourth quarter valued at about $522,000. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BCC. BMO Capital Markets reduced their price objective 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 reduced 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 reduced 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 reduced 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 investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $112.83.

Insider Activity at Boise Cascade

In other news, EVP Troy Little sold 2,033 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $83.10, for a total transaction of $168,942.30. Following the completion of the sale, the executive vice president owned 12,701 shares of the company's stock, valued at $1,055,453.10. This trade represents a 13.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Joanna L. Barney sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $87.68, for a total transaction of $87,680.00. Following the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 6,015 shares of company stock worth $511,869 in the last quarter. 1.11% of the stock is owned by insiders.

Boise Cascade Price Performance

Shares of BCC stock traded down $3.6870 on Wednesday, reaching $84.3730. The company had a trading volume of 353,033 shares, compared to its average volume of 357,420. The stock has a market capitalization of $3.15 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 5.04 and a beta of 1.28. The company has a quick ratio of 1.54, a current ratio of 2.96 and a debt-to-equity ratio of 0.21. Boise Cascade, L.L.C. has a one year low of $80.01 and a one year high of $155.42. The business's 50-day moving average is $87.04 and its 200 day moving average is $94.75.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its earnings results on Monday, August 4th. The construction company reported $1.64 EPS for the quarter, missing analysts' consensus estimates of $1.69 by ($0.05). The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate 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 was down 3.2% compared to the same quarter last year. During the same period last year, the company posted $2.84 EPS. Equities research analysts forecast that Boise Cascade, L.L.C. will post 10.15 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The firm also recently disclosed 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. This is a boost from Boise Cascade's previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, September 2nd. This represents a $0.88 dividend on an annualized basis and a yield of 1.0%. Boise Cascade's dividend payout ratio (DPR) is 12.33%.

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.