Baird Financial Group Inc. Acquires 3,387 Shares of Boise Cascade, L.L.C. $BCC

Key Points

• Baird Financial Group Inc. increased its stake in Boise Cascade by 2.2%, acquiring an additional 3,387 shares during the first quarter, bringing its total to 158,774 shares valued at approximately $15.57 million.
• Boise Cascade recently reported earnings per share (EPS) of $1.64, falling short of analyst estimates and marking a 3.2% decline in revenue year-over-year.
• The company announced a quarterly dividend increase to $0.22 per share, with the ex-dividend date set for September 2nd, 2023, reflecting a 1.0% dividend yield.

Baird Financial Group Inc. increased its holdings in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 2.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 158,774 shares of the construction company's stock after buying an additional 3,387 shares during the period. Baird Financial Group Inc. owned about 0.42% of Boise Cascade worth $15,574,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Quarry LP raised its stake in Boise Cascade by 502.4% in the fourth quarter. Quarry LP now owns 253 shares of the construction company's stock worth $30,000 after buying an additional 211 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Boise Cascade by 120.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 406 shares of the construction company's stock worth $40,000 after buying an additional 222 shares in the last quarter. Farther Finance Advisors LLC raised its stake 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 buying an additional 369 shares in the last quarter. Blue Trust Inc. raised its stake in Boise Cascade by 93.7% in the first quarter. Blue Trust Inc. now owns 918 shares of the construction company's stock worth $90,000 after buying an additional 444 shares in the last quarter. Finally, Curat Global LLC bought a new position in Boise Cascade in the first quarter worth approximately $122,000. Institutional investors own 96.18% of the company's stock.

Insider Transactions at Boise Cascade

In other Boise Cascade news, EVP Joanna L. Barney sold 1,000 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $87.68, for a total value of $87,680.00. Following the sale, the executive vice president directly owned 12,372 shares of the company's stock, valued at approximately $1,084,776.96. This represents a 7.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jill Twedt sold 1,782 shares of the company's 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 in the company, valued at approximately $2,759,841.99. The trade was a 5.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,015 shares of company stock valued at $602,929 in the last quarter. Insiders own 1.11% of the company's stock.

Boise Cascade Price Performance

NYSE BCC opened at $86.91 on Tuesday. 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 stock's fifty day moving average price is $87.31 and its 200 day moving average price is $92.31. 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 cap of $3.25 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 5.18 and a beta of 1.33.

Boise Cascade (NYSE:BCC - Get Free Report) last released its earnings results on Monday, August 4th. The construction company reported $1.64 earnings per share (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 analyst estimates of $1.76 billion. During the same period in the previous year, the company earned $2.84 earnings per share. Boise Cascade's revenue was down 3.2% on a year-over-year basis. As a group, equities research analysts forecast that Boise Cascade, L.L.C. will post 10.15 earnings per share for the current year.

Boise Cascade Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.0%. 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. Boise Cascade's payout ratio is currently 12.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BCC shares. BMO Capital Markets reduced their price objective on shares of Boise Cascade from $114.00 to $108.00 and set a "market perform" rating for the company in a research note on Thursday, August 7th. DA Davidson cut their price target on shares of Boise Cascade from $115.00 to $100.00 and set a "buy" rating on the stock in a report on Friday, July 18th. Bank of America cut 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. Finally, Truist Financial cut their price target on shares of Boise Cascade from $106.00 to $101.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Boise Cascade presently has a consensus rating of "Moderate Buy" and a consensus price target of $112.83.

Boise Cascade Company 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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