Boise Cascade, L.L.C. $BCC Shares Purchased by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its stake in Boise Cascade by 13.4% in the first quarter, owning approximately 41,941 shares worth about $4.1 million.
• Boise Cascade reported a quarterly EPS of $1.64, missing estimates by $0.05, and also announced a dividend increase to $0.22 per share to be paid in September.
• Analysts have downgraded their price targets for Boise Cascade, with the consensus rating now being a "Moderate Buy" and a target price of $112.83.

Intech Investment Management LLC raised its position in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 13.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,941 shares of the construction company's stock after buying an additional 4,963 shares during the quarter. Intech Investment Management LLC owned 0.11% of Boise Cascade worth $4,114,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of BCC. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Boise Cascade by 120.7% during 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 raised its position in shares of Boise Cascade by 338.5% during 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 during the last quarter. Blue Trust Inc. raised its position 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 worth $90,000 after acquiring an additional 444 shares during the last quarter. Curat Global LLC bought a new position in shares of Boise Cascade during the first quarter worth about $122,000. Finally, GAMMA Investing LLC grew its stake in Boise Cascade by 60.6% during the first quarter. GAMMA Investing LLC now owns 1,458 shares of the construction company's stock worth $143,000 after purchasing an additional 550 shares during the period. 96.18% of the stock is owned by institutional investors and hedge funds.

Boise Cascade Trading Up 1.4%

NYSE BCC traded up $1.17 during trading hours on Thursday, hitting $81.63. 133,185 shares of the company were exchanged, compared to its average volume of 352,713. The stock has a 50-day moving average price of $86.21 and a 200 day moving average price of $90.51. The company has a quick ratio of 1.54, a current ratio of 2.96 and a debt-to-equity ratio of 0.21. Boise Cascade, L.L.C. has a 52 week low of $80.01 and a 52 week high of $155.42. The stock has a market cap of $3.05 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 4.90 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 EPS for the quarter, missing analysts' consensus estimates of $1.69 by ($0.05). The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.76 billion. Boise Cascade had a net margin of 4.00% and a return on equity of 12.26%. The company's quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.84 EPS. 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 business also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.22 per share. This is an increase from Boise Cascade's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Tuesday, September 2nd. Boise Cascade's dividend payout ratio (DPR) is currently 12.92%.

Insiders Place Their Bets

In other news, EVP Troy Little sold 2,033 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $83.10, for a total transaction of $168,942.30. Following the completion of the sale, the executive vice president owned 12,701 shares in the company, valued at approximately $1,055,453.10. This represents a 13.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jill Twedt sold 1,782 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $83.97, for a total value of $149,634.54. Following the sale, the senior vice president owned 32,867 shares of the company's stock, valued at approximately $2,759,841.99. This represents a 5.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,815 shares of company stock worth $409,637 over the last 90 days. Company insiders own 0.98% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BCC shares. BMO Capital Markets reiterated a "market perform" rating and issued a $100.00 target price on shares of Boise Cascade in a report on Tuesday. Bank of America dropped their price objective on Boise Cascade from $111.00 to $107.00 and set a "buy" rating on the stock in a report on Wednesday, July 9th. DA Davidson decreased 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. Finally, Truist Financial reduced their price objective on Boise Cascade from $101.00 to $96.00 and set a "buy" rating on the stock in a research report on Wednesday. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $110.67.

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.