AlphaQuest LLC Increases Position in Boise Cascade, L.L.C. $BCC

Key Points

• AlphaQuest LLC increased its holdings in Boise Cascade, L.L.C. by 446.2% during the first quarter, acquiring additional shares worth $1.21 million.
• Boise Cascade reported earnings of $1.64 per share for the last quarter, missing estimates and showing a 3.2% decline in year-over-year revenue.
• The company recently increased its quarterly dividend to $0.22, reflecting a higher annualized yield of 1.0% compared to its previous dividend of $0.21.

AlphaQuest LLC grew its holdings in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 446.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,372 shares of the construction company's stock after buying an additional 10,107 shares during the quarter. AlphaQuest LLC's holdings in Boise Cascade were worth $1,214,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. raised 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. GAMMA Investing LLC raised 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. Assenagon Asset Management S.A. raised its position in shares of Boise Cascade by 50.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 23,699 shares of the construction company's stock valued at $2,325,000 after buying an additional 7,983 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in shares of Boise Cascade during the 4th quarter valued at about $728,000. Finally, Deutsche Bank AG raised its position in shares of Boise Cascade by 69.0% during the 1st quarter. Deutsche Bank AG now owns 62,823 shares of the construction company's stock valued at $6,162,000 after buying an additional 25,656 shares in the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BCC has been the topic of a number of recent analyst reports. 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 report on Thursday, August 7th. Bank of America reduced their target price on shares of Boise Cascade from $111.00 to $107.00 and set a "buy" rating on the stock in a research report on Wednesday, July 9th. DA Davidson reduced their target price on shares of Boise Cascade from $115.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Finally, Truist Financial dropped 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. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $112.83.

Boise Cascade Stock Performance

Shares of NYSE:BCC traded down $0.19 on Friday, hitting $87.08. 49,056 shares of the company were exchanged, compared to its average volume of 355,234. Boise Cascade, L.L.C. has a 1-year low of $80.01 and a 1-year high of $155.42. The stock's 50 day moving average price is $87.34 and its 200 day moving average price is $93.18. 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 firm has a market capitalization of $3.25 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 5.24 and a beta of 1.28.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its quarterly 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). The business had revenue of $1.74 billion during 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%.Boise Cascade's quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.84 EPS. Sell-side analysts predict that Boise Cascade, L.L.C. will post 10.15 EPS for the current year.

Boise Cascade Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd will be issued 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 dividend on an annualized basis and a yield of 1.0%. Boise Cascade's dividend payout ratio is presently 12.33%.

Insider Activity

In other Boise Cascade 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 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. The trade was a 5.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Troy Little sold 2,033 shares of Boise Cascade stock in a transaction 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 transaction, the executive vice president directly owned 12,701 shares of the company's stock, valued at $1,055,453.10. The trade was a 13.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,015 shares of company stock worth $602,929 over the last three months. Corporate insiders own 0.98% of the company's stock.

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.