Boise Cascade, L.L.C. $BCC Shares Bought by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management dramatically increased its Boise Cascade stake in Q4, buying 419,993 additional shares and bringing its holdings to 420,189 shares worth about $30.9 million.
• Boise Cascade reported better-than-expected quarterly earnings of $0.50 per share on revenue of $1.50 billion, though revenue still declined 2.5% from a year earlier.
• The company announced a quarterly dividend of $0.22 per share, payable June 17, while analysts currently rate the stock Hold with a consensus target price of $98.00.

Northwestern Mutual Wealth Management Co. grew its stake in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 214,282.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 420,189 shares of the construction company's stock after acquiring an additional 419,993 shares during the period. Northwestern Mutual Wealth Management Co. owned about 1.13% of Boise Cascade worth $30,926,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Cerity Partners LLC lifted its position in shares of Boise Cascade by 3.8% during the 2nd quarter. Cerity Partners LLC now owns 3,274 shares of the construction company's stock valued at $284,000 after acquiring an additional 121 shares during the last quarter. Raymond James Financial Inc. lifted its position in shares of Boise Cascade by 1.0% during the 2nd quarter. Raymond James Financial Inc. now owns 13,219 shares of the construction company's stock valued at $1,148,000 after acquiring an additional 126 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Boise Cascade by 6.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,726 shares of the construction company's stock valued at $211,000 after acquiring an additional 158 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Boise Cascade by 1.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 9,013 shares of the construction company's stock valued at $663,000 after acquiring an additional 163 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its position in shares of Boise Cascade by 0.8% during the 4th quarter. State of Alaska Department of Revenue now owns 21,171 shares of the construction company's stock valued at $1,558,000 after acquiring an additional 164 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BCC shares. DA Davidson cut their price objective on Boise Cascade from $95.00 to $92.00 and set a "buy" rating for the company in a research report on Wednesday, May 6th. Truist Financial set a $97.00 price objective on Boise Cascade in a research report on Wednesday, May 6th. Wall Street Zen upgraded shares of Boise Cascade from a "sell" rating to a "hold" rating in a research report on Saturday, February 28th. Weiss Ratings cut shares of Boise Cascade from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, May 4th. Finally, Zacks Research upgraded shares of Boise Cascade from a "strong sell" rating to a "hold" rating in a research report on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $98.00.

Insider Activity

In other Boise Cascade news, SVP Jill Twedt sold 6,070 shares of Boise Cascade stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $66.45, for a total transaction of $403,351.50. Following the completion of the sale, the senior vice president owned 26,545 shares of the company's stock, valued at $1,763,915.25. This trade represents a 18.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.42% of the stock is owned by company insiders.

Boise Cascade Trading Up 2.6%

NYSE BCC opened at $67.72 on Tuesday. Boise Cascade, L.L.C. has a twelve month low of $65.14 and a twelve month high of $95.00. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.37 and a current ratio of 2.77. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 0.99 and a beta of 1.15. The firm's 50 day moving average price is $75.21 and its two-hundred day moving average price is $76.98.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The construction company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.07. Boise Cascade had a net margin of 1.73% and a return on equity of 5.55%. The firm had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.46 billion. During the same period in the previous year, the company posted $1.06 EPS. The company's quarterly revenue was down 2.5% compared to the same quarter last year. Equities analysts anticipate that Boise Cascade, L.L.C. will post 3.67 EPS for the current year.

Boise Cascade Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.3%. Boise Cascade's dividend payout ratio (DPR) is 29.73%.

Boise Cascade Company Profile

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company's operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.

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