Invesco Ltd. Has $25.67 Million Holdings in Boise Cascade, L.L.C. $BCC

Key Points

• Invesco Ltd. reduced its stake in Boise Cascade by 27.0%, holding 261,643 shares worth approximately $25.67 million after the sale.
• Boise Cascade recently increased its quarterly dividend from $0.21 to $0.22, resulting in a 1.0% yield for shareholders.
• The company's latest earnings report revealed that Boise Cascade posted $1.64 earnings per share, missing estimates by 5 cents and showing a 3.2% decline in revenue year-over-year.

Invesco Ltd. lessened its holdings in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 27.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 261,643 shares of the construction company's stock after selling 96,725 shares during the quarter. Invesco Ltd. owned approximately 0.70% of Boise Cascade worth $25,665,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of BCC. Raymond James Financial Inc. purchased a new position in Boise Cascade during the 4th quarter valued at about $1,601,000. Townsquare Capital LLC purchased a new position in Boise Cascade during the 4th quarter valued at about $217,000. Barclays PLC grew its stake in Boise Cascade by 5.0% during the 4th quarter. Barclays PLC now owns 94,895 shares of the construction company's stock valued at $11,280,000 after acquiring an additional 4,529 shares in the last quarter. PEAK6 LLC purchased a new position in Boise Cascade during the 4th quarter valued at about $201,000. Finally, First Trust Advisors LP grew its stake in Boise Cascade by 37.9% during the 4th quarter. First Trust Advisors LP now owns 712,527 shares of the construction company's stock valued at $84,691,000 after acquiring an additional 195,773 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company's stock.

Insider Buying and Selling

In related news, EVP Joanna L. Barney sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $87.68, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Troy Little sold 2,033 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $83.10, for a total value of $168,942.30. Following the transaction, the executive vice president owned 12,701 shares of the company's stock, valued at approximately $1,055,453.10. This trade represents a 13.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,015 shares of company stock worth $511,869. 1.11% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BCC has been the subject of several recent research reports. Truist Financial lowered their price target on Boise Cascade from $106.00 to $101.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. DA Davidson lowered their price target on Boise Cascade from $115.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Bank of America lowered their price target on Boise Cascade from $111.00 to $107.00 and set a "buy" rating for the company in a research note on Wednesday, July 9th. Finally, BMO Capital Markets lowered their price target on 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. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $112.83.

Boise Cascade Stock Performance

BCC traded down $1.35 on Monday, hitting $89.87. The company had a trading volume of 292,040 shares, compared to its average volume of 404,838. The company's fifty day moving average price is $87.08 and its 200 day moving average price is $93.50. 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 debt-to-equity ratio of 0.21, a current ratio of 2.96 and a quick ratio of 1.54. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 5.43 and a beta of 1.28.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its earnings results on Monday, August 4th. The construction company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.05). Boise Cascade had a return on equity of 12.26% and a net margin of 4.00%.The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the firm posted $2.84 earnings per share. The firm's revenue for the quarter was down 3.2% compared to the same quarter last year. Equities analysts predict 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 will be paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd will be issued a $0.22 dividend. This is an increase from Boise Cascade's previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, September 2nd. This represents a $0.88 annualized dividend and a yield of 1.0%. Boise Cascade's dividend payout ratio is presently 12.33%.

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.