Allianz Asset Management GmbH Sells 10,779 Shares of Boise Cascade, L.L.C. (NYSE:BCC)

Key Points

• Allianz Asset Management GmbH has reduced its stake in Boise Cascade, L.L.C. by 6.8%, owning about 0.39% of the company, worth approximately $14.55 million after selling 10,779 shares.
• Analyst ratings for Boise Cascade include multiple target price reductions, with firms like Loop Capital adjusting from $140 to $135, indicating a consensus rating of "Moderate Buy".
• Boise Cascade reported a decrease in quarterly earnings with an EPS of $1.06, missing estimates by $0.30, and experienced a 6.6% drop in revenue compared to the previous year.

Allianz Asset Management GmbH lessened its stake in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 6.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 148,296 shares of the construction company's stock after selling 10,779 shares during the quarter. Allianz Asset Management GmbH owned 0.39% of Boise Cascade worth $14,546,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BCC. Quarry LP boosted its holdings in shares of Boise Cascade by 502.4% in the fourth quarter. Quarry LP now owns 253 shares of the construction company's stock valued at $30,000 after buying an additional 211 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Boise Cascade by 338.5% in the first 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 during the period. Blue Trust Inc. boosted 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 valued at $90,000 after buying an additional 444 shares during the period. Curat Global LLC acquired a new position in shares of Boise Cascade in the first quarter valued at approximately $122,000. Finally, GAMMA Investing LLC boosted 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 valued at $143,000 after buying an additional 550 shares during the period. Institutional investors and hedge funds own 96.18% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on BCC. Loop Capital reduced their target price on shares of Boise Cascade from $140.00 to $135.00 and set a "buy" rating for the company in a report on Monday, April 14th. Truist Financial reduced their target price on shares of Boise Cascade from $114.00 to $106.00 and set a "buy" rating for the company in a report on Tuesday, July 8th. Bank of America reduced their target price on shares of Boise Cascade from $111.00 to $107.00 and set a "buy" rating for the company in a report on Wednesday, July 9th. Finally, DA Davidson reduced their target price on shares of Boise Cascade from $115.00 to $100.00 and set a "buy" rating for the company in a report on Friday, July 18th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Boise Cascade has an average rating of "Moderate Buy" and an average target price of $116.00.

Insider Activity

In other news, EVP Joanna L. Barney sold 1,000 shares of the 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 transaction, the executive vice president directly owned 12,372 shares of the company's stock, valued at $1,084,776.96. This represents a 7.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jill Twedt sold 1,200 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $88.01, for a total transaction of $105,612.00. Following the completion of the transaction, the senior vice president directly owned 34,649 shares in the company, valued at $3,049,458.49. The trade was a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.11% of the stock is owned by corporate insiders.

Boise Cascade Stock Performance

NYSE BCC traded down $0.53 on Tuesday, hitting $86.22. 29,954 shares of the stock were exchanged, compared to its average volume of 349,199. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.82 and a quick ratio of 1.51. The business's fifty day moving average is $87.97 and its 200 day moving average is $99.26. Boise Cascade, L.L.C. has a 52 week low of $83.09 and a 52 week high of $155.42. The company has a market capitalization of $3.24 billion, a PE ratio of 10.76, a P/E/G ratio of 4.30 and a beta of 1.34.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The construction company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.30). Boise Cascade had a return on equity of 14.36% and a net margin of 4.72%. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the company posted $2.61 earnings per share. The business's revenue was down 6.6% compared to the same quarter last year. Research analysts anticipate that Boise Cascade, L.L.C. will post 10.15 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Monday, June 2nd. Boise Cascade's payout ratio is presently 10.49%.

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.