AlphaQuest LLC Purchases 10,107 Shares of 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 increased its position in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 446.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,372 shares of the construction company's stock after buying an additional 10,107 shares during the period. AlphaQuest LLC's holdings in Boise Cascade were worth $1,214,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in BCC. Raymond James Financial Inc. acquired a new position in Boise Cascade during the 4th quarter valued at about $1,601,000. MetLife Investment Management LLC boosted its stake in shares of Boise Cascade by 4.3% in the 4th quarter. MetLife Investment Management LLC now owns 23,327 shares of the construction company's stock worth $2,773,000 after buying an additional 965 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Boise Cascade by 1.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 303,832 shares of the construction company's stock worth $36,114,000 after buying an additional 2,998 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in shares of Boise Cascade in the 4th quarter worth approximately $519,000. Finally, Quarry LP boosted its stake in shares of Boise Cascade by 502.4% in the 4th quarter. Quarry LP now owns 253 shares of the construction company's stock worth $30,000 after buying an additional 211 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BCC. DA Davidson cut their target price on Boise Cascade from $115.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Truist Financial cut their target price on Boise Cascade from $106.00 to $101.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. BMO Capital Markets lowered their price target on shares of Boise Cascade from $114.00 to $108.00 and set a "market perform" rating on the stock in a report on Thursday, August 7th. Finally, Bank of America lowered their price target on shares of Boise Cascade from $111.00 to $107.00 and set a "buy" rating on the stock in a report on Wednesday, July 9th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $112.83.

Insider Buying and Selling at Boise Cascade

In other news, COO Jeffrey Robert Strom sold 1,000 shares of Boise Cascade stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $91.06, for a total transaction of $91,060.00. Following the transaction, the chief operating officer owned 37,026 shares in the company, valued at $3,371,587.56. This trade represents a 2.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Joanna L. Barney sold 1,000 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $87.68, for a total transaction of $87,680.00. Following the sale, the executive vice president owned 12,372 shares in the company, valued at $1,084,776.96. The trade was a 7.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,015 shares of company stock worth $602,929. 0.98% of the stock is owned by insiders.

Boise Cascade Trading Down 0.8%

BCC stock traded down $0.69 during trading on Thursday, reaching $87.36. The company had a trading volume of 248,954 shares, compared to its average volume of 356,404. The business has a 50 day moving average of $87.27 and a 200 day moving average of $93.43. Boise Cascade, L.L.C. has a 52 week low of $80.01 and a 52 week high of $155.42. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.96 and a quick ratio of 1.54. The company has a market cap of $3.26 billion, a P/E ratio of 12.83, a PEG ratio of 5.29 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 for the quarter, compared to analysts' expectations of $1.76 billion. Boise Cascade had a return on equity of 12.26% and a net margin of 4.00%.The company's revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.84 EPS. As a group, sell-side analysts forecast that Boise Cascade, L.L.C. will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.88 annualized dividend and a dividend yield of 1.0%. This is a boost from Boise Cascade's previous quarterly dividend of $0.21. Boise Cascade's dividend payout ratio is 12.33%.

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.