Amundi Decreases Holdings in Boise Cascade, L.L.C. $BCC

Key Points

• Amundi decreased its holdings in Boise Cascade, L.L.C. by 23.5%, selling 5,195 shares during the first quarter and now owns 16,906 shares worth approximately $1.6 million.
• Multiple institutional investors have increased their stakes in Boise Cascade, with Northwestern Mutual Wealth Management Co. growing its stake by 120.7% during the same period.
• Boise Cascade plans to pay a quarterly dividend of $0.22 per share, which is an increase from the previous $0.21, reflecting a 1.0% dividend yield for shareholders.

Amundi lessened its holdings in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 23.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,906 shares of the construction company's stock after selling 5,195 shares during the quarter. Amundi's holdings in Boise Cascade were worth $1,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Cubist Systematic Strategies LLC bought a new position in Boise Cascade in the 1st quarter valued at $8,617,000. Royal Bank of Canada grew its stake in shares of Boise Cascade by 4.0% during the 1st quarter. Royal Bank of Canada now owns 34,704 shares of the construction company's stock worth $3,404,000 after acquiring an additional 1,332 shares during the period. Alamea Verwaltungs GmbH bought a new position in shares of Boise Cascade during the 1st quarter worth $399,000. Baird Financial Group Inc. grew its stake in shares of Boise Cascade by 2.2% during the 1st quarter. Baird Financial Group Inc. now owns 158,774 shares of the construction company's stock worth $15,574,000 after acquiring an additional 3,387 shares during the period. Finally, Vident Advisory LLC grew its stake in shares of Boise Cascade by 11.8% during the 1st quarter. Vident Advisory LLC now owns 11,395 shares of the construction company's stock worth $1,118,000 after acquiring an additional 1,207 shares during the period. Institutional investors own 96.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Bank of America cut their price target on Boise Cascade from $111.00 to $107.00 and set a "buy" rating for the company in a research note on Wednesday, July 9th. DA Davidson cut their price target on Boise Cascade from $115.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Truist Financial cut their price target on Boise Cascade from $101.00 to $96.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, BMO Capital Markets restated a "market perform" rating and issued a $100.00 target price on shares of Boise Cascade in a research note on Tuesday. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $110.67.

Boise Cascade Price Performance

Shares of NYSE:BCC traded up $1.12 on Thursday, hitting $81.58. The company's stock had a trading volume of 342,892 shares, compared to its average volume of 310,107. The company has a 50-day simple moving average of $85.98 and a 200 day simple moving average of $90.37. Boise Cascade, L.L.C. has a 1 year low of $80.01 and a 1 year high of $155.42. The company has a market capitalization of $3.05 billion, a PE ratio of 11.98, a PEG ratio of 4.79 and a beta of 1.33. 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 (NYSE:BCC - Get Free Report) last released 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). Boise Cascade had a net margin of 4.00% and a return on equity of 12.26%. The business had revenue of $1.74 billion during the quarter, compared to analysts' expectations of $1.76 billion. During the same period in the previous year, the business earned $2.84 EPS. The business's revenue was down 3.2% on a year-over-year basis. Sell-side 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 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 dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is an increase from Boise Cascade's previous quarterly dividend of $0.21. Boise Cascade's payout ratio is 12.92%.

Insider Buying and Selling at Boise Cascade

In related news, COO Jeffrey Robert Strom sold 1,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $91.06, for a total transaction of $91,060.00. Following the transaction, the chief operating officer directly owned 37,026 shares of the company's stock, valued at approximately $3,371,587.56. This trade represents a 2.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Jill Twedt sold 1,782 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $83.97, for a total value of $149,634.54. Following the transaction, the senior vice president directly owned 32,867 shares in the company, valued at approximately $2,759,841.99. This represents a 5.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,815 shares of company stock valued at $409,637 in the last 90 days. Corporate insiders own 0.98% of the company's stock.

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.