Assetmark Inc. Sells 2,965 Shares of Boise Cascade, L.L.C. (NYSE:BCC)

Assetmark Inc. lessened its position in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 5.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,884 shares of the construction company's stock after selling 2,965 shares during the quarter. Assetmark Inc. owned approximately 0.14% of Boise Cascade worth $5,089,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Quarry LP boosted its holdings in shares of Boise Cascade by 502.4% during the 4th quarter. Quarry LP now owns 253 shares of the construction company's stock valued at $30,000 after buying an additional 211 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Boise Cascade by 338.5% in the first quarter. Farther Finance Advisors LLC now owns 478 shares of the construction company's stock worth $47,000 after purchasing an additional 369 shares during the period. Blue Trust Inc. lifted its holdings in shares of Boise Cascade by 93.7% during the first quarter. Blue Trust Inc. now owns 918 shares of the construction company's stock valued at $90,000 after purchasing an additional 444 shares during the last quarter. Curat Global LLC purchased a new position in shares of Boise Cascade during the first quarter valued at approximately $122,000. Finally, GAMMA Investing LLC boosted its position in shares of Boise Cascade by 60.6% in 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 in the last quarter. 96.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BCC. Truist Financial lowered their price objective on Boise Cascade from $114.00 to $106.00 and set a "buy" rating for the company in a research note on Tuesday, July 8th. DA Davidson dropped their price target on shares of Boise Cascade from $115.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Bank of America cut their price objective 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. Finally, Loop Capital decreased 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. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Boise Cascade presently has a consensus rating of "Moderate Buy" and a consensus price target of $116.00.

Insider Activity at Boise Cascade

In other Boise Cascade news, EVP Joanna L. Barney sold 1,000 shares of the business'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 completion of the sale, the executive vice president directly owned 12,372 shares in the company, valued at approximately $1,084,776.96. The trade was a 7.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jill Twedt sold 1,200 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $88.01, for a total value of $105,612.00. Following the completion of the transaction, the senior vice president owned 34,649 shares in the company, valued at approximately $3,049,458.49. This trade represents a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.98% of the company's stock.

Boise Cascade Stock Performance

Shares of NYSE:BCC traded down $1.30 during midday trading on Friday, reaching $82.52. 100,867 shares of the company's stock traded hands, compared to its average volume of 348,428. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.51 and a current ratio of 2.82. Boise Cascade, L.L.C. has a one year low of $81.89 and a one year high of $155.42. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 10.30, a P/E/G ratio of 4.14 and a beta of 1.34. The stock has a 50 day moving average of $87.77 and a 200 day moving average of $98.82.

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

Boise Cascade Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.1%. This is a boost from Boise Cascade's previous quarterly dividend of $0.21. Boise Cascade's dividend payout ratio (DPR) is currently 10.49%.

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.