Wedge Capital Management L L P NC Buys 15,003 Shares of Boise Cascade, L.L.C. $BCC

Key Points

• Wedge Capital Management L.L.P NC increased its stake in Boise Cascade by 12.8%, now holding approximately 0.35% of the company's shares valued at about $11.5 million.
• Boise Cascade's recent quarterly earnings report showed an EPS of $1.64, missing analysts' expectations by $0.05, with revenue down 3.2% compared to the previous year.
• The company has raised its quarterly dividend from $0.21 to $0.22 per share, representing a yield of 1.1% and a low payout ratio of 12.92%.

Wedge Capital Management L L P NC lifted its position in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 12.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 132,641 shares of the construction company's stock after acquiring an additional 15,003 shares during the period. Wedge Capital Management L L P NC owned 0.35% of Boise Cascade worth $11,516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its stake in Boise Cascade by 120.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 406 shares of the construction company's stock worth $40,000 after purchasing an additional 222 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of 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 acquiring an additional 369 shares in the last quarter. Blue Trust Inc. grew its stake in shares of 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 acquiring an additional 444 shares in the last quarter. Curat Global LLC acquired a new stake in Boise Cascade in the first quarter valued at $122,000. Finally, GAMMA Investing LLC raised its stake in Boise Cascade by 60.6% in the first 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. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BCC shares. BMO Capital Markets restated a "market perform" rating and set a $100.00 target price on shares of Boise Cascade in a research report on Tuesday, September 16th. 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 report on Wednesday, July 9th. Truist Financial dropped their target price on shares of Boise Cascade from $101.00 to $96.00 and set a "buy" rating for the company in a research report on Wednesday, September 17th. Finally, DA Davidson decreased their target price on shares of Boise Cascade from $115.00 to $100.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Boise Cascade presently has a consensus rating of "Moderate Buy" and an average target price of $110.67.

Insider Buying and Selling at Boise Cascade

In related news, COO Jeffrey Robert Strom sold 1,000 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $91.06, for a total value of $91,060.00. Following the sale, the chief operating officer directly owned 37,026 shares in the company, valued at approximately $3,371,587.56. The trade was a 2.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jill Twedt sold 1,782 shares of the business'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 completion of the sale, the senior vice president owned 32,867 shares in the company, valued at $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. In the last three months, insiders have sold 4,815 shares of company stock worth $409,637. Corporate insiders own 1.11% of the company's stock.

Boise Cascade Stock Performance

Shares of NYSE:BCC traded down $0.37 on Tuesday, hitting $79.07. The company had a trading volume of 130,359 shares, compared to its average volume of 356,365. The stock has a 50 day moving average price of $85.54 and a 200 day moving average price of $89.94. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 11.62, a P/E/G ratio of 5.41 and a beta of 1.33. Boise Cascade, L.L.C. has a 1-year low of $78.44 and a 1-year high of $155.42. The company has a current ratio of 2.96, a quick ratio of 1.54 and a debt-to-equity ratio of 0.21.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its earnings results on Monday, August 4th. The construction company reported $1.64 EPS 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 analyst estimates of $1.76 billion. Boise Cascade had a return on equity of 12.26% and a net margin of 4.00%.The firm's revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.84 EPS. Analysts expect that Boise Cascade, L.L.C. will post 10.15 EPS for the current year.

Boise Cascade Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd were issued a $0.22 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.1%. This is an increase from Boise Cascade's previous quarterly dividend of $0.21. Boise Cascade's dividend payout ratio (DPR) is 12.92%.

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.