Allianz Asset Management GmbH Raises Position in Boise Cascade, L.L.C. $BCC

Key Points

• Allianz Asset Management GmbH increased its stake in Boise Cascade by 7.1%, acquiring a total of 158,761 shares valued at approximately $13.78 million in the second quarter.
• The company declared a quarterly dividend of $0.22 per share, up from the previous $0.21, representing a 1.2% yield and a payout ratio of 12.92%.
• Boise Cascade's latest earnings report showed an EPS of $1.64, missing estimates by $0.05, with a revenue of $1.74 billion, down 3.2% year-over-year.

Allianz Asset Management GmbH lifted its stake in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 7.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 158,761 shares of the construction company's stock after purchasing an additional 10,465 shares during the period. Allianz Asset Management GmbH owned 0.42% of Boise Cascade worth $13,784,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. increased its stake 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 worth $90,000 after purchasing an additional 444 shares during the last quarter. GAMMA Investing LLC increased its stake 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 worth $143,000 after purchasing an additional 550 shares during the last quarter. Caxton Associates LLP purchased a new stake in shares of Boise Cascade during the 1st quarter worth approximately $1,402,000. Intech Investment Management LLC increased its stake in shares of Boise Cascade by 13.4% during the 1st quarter. Intech Investment Management LLC now owns 41,941 shares of the construction company's stock worth $4,114,000 after purchasing an additional 4,963 shares during the last quarter. Finally, Strs Ohio purchased a new stake in shares of Boise Cascade during the 1st quarter worth approximately $1,069,000. Hedge funds and other institutional investors own 96.18% of the company's stock.

Insider Buying and Selling at Boise Cascade

In other news, SVP Jill Twedt sold 1,782 shares of Boise Cascade 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 of the company's stock, valued at approximately $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 accessible through this link. Also, COO Jeffrey Robert Strom sold 1,000 shares of Boise Cascade stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $91.06, for a total transaction of $91,060.00. Following the sale, 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 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. Company insiders own 1.11% of the company's stock.

Boise Cascade Stock Up 0.1%

Shares of NYSE:BCC opened at $71.10 on Tuesday. The firm has a fifty day moving average price of $81.57 and a two-hundred day moving average price of $86.56. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.96 and a quick ratio of 1.54. Boise Cascade, L.L.C. has a one year low of $70.00 and a one year high of $155.42. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 5.42 and a beta of 1.27.

Boise Cascade (NYSE:BCC - Get Free Report) last announced 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 firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the business earned $2.84 earnings per share. The firm's revenue for the quarter was down 3.2% on a year-over-year basis. Analysts anticipate that Boise Cascade, L.L.C. will post 10.15 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from Boise Cascade's previous quarterly dividend of $0.21. Boise Cascade's payout ratio is 12.92%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BCC. DA Davidson decreased their price target on shares of Boise Cascade from $115.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, July 18th. The Goldman Sachs Group reduced their price objective on shares of Boise Cascade from $96.00 to $82.00 and set a "neutral" rating for the company in a research note on Monday, October 13th. BMO Capital Markets reiterated a "market perform" rating and issued a $100.00 price objective on shares of Boise Cascade in a research note on Tuesday, September 16th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Boise Cascade in a research note on Wednesday, October 8th. Finally, Bank of America reduced their price objective on shares of Boise Cascade from $111.00 to $107.00 and set a "buy" rating for the company in a research note on Wednesday, July 9th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $103.33.

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.

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