Boise Cascade, L.L.C. $BCC Shares Sold by SG Americas Securities LLC

Key Points

• SG Americas Securities LLC cut its Boise Cascade stake by 50.6% in the first quarter, leaving it with 17,290 shares worth about $1.31 million.
• Boise Cascade reported better-than-expected quarterly results, with EPS of $0.50 versus $0.43 expected and revenue of $1.50 billion versus $1.46 billion forecast.
• The company also paid a quarterly dividend of $0.22 per share, equal to an annualized yield of 1.2%, while analysts currently rate the stock a “Moderate Buy” with an average target price of $98.00.

SG Americas Securities LLC lowered its position in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 50.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,290 shares of the construction company's stock after selling 17,687 shares during the quarter. SG Americas Securities LLC's holdings in Boise Cascade were worth $1,311,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cerity Partners LLC raised its stake in Boise Cascade by 3.8% during the second quarter. Cerity Partners LLC now owns 3,274 shares of the construction company's stock worth $284,000 after purchasing an additional 121 shares during the period. Raymond James Financial Inc. grew its stake in shares of Boise Cascade by 1.0% in the 2nd quarter. Raymond James Financial Inc. now owns 13,219 shares of the construction company's stock valued at $1,148,000 after buying an additional 126 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Boise Cascade by 1.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 9,013 shares of the construction company's stock valued at $663,000 after buying an additional 163 shares during the period. State of Alaska Department of Revenue increased its holdings 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 worth $1,558,000 after buying an additional 164 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of Boise Cascade by 77.5% during the 4th quarter. Fifth Third Bancorp now owns 410 shares of the construction company's stock worth $30,000 after buying an additional 179 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Boise Cascade news, SVP Jill Twedt sold 6,070 shares of the company's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $66.45, for a total transaction of $403,351.50. Following the transaction, the senior vice president directly owned 26,545 shares in the company, valued at $1,763,915.25. This represents a 18.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.42% of the stock is owned by company insiders.

Boise Cascade Price Performance

Shares of BCC opened at $75.96 on Friday. The firm has a 50-day simple moving average of $72.49 and a two-hundred day simple moving average of $76.88. The stock has a market cap of $2.67 billion, a PE ratio of 25.66, a P/E/G ratio of 1.13 and a beta of 1.08. Boise Cascade, L.L.C. has a 1-year low of $65.00 and a 1-year high of $95.00. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.77 and a quick ratio of 1.37.

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

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Monday, June 1st were given a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.88 dividend on an annualized basis and a yield of 1.2%. Boise Cascade's payout ratio is presently 29.73%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. DA Davidson decreased their price objective on Boise Cascade from $95.00 to $92.00 and set a "buy" rating on the stock in a report on Wednesday, May 6th. Truist Financial set a $97.00 price objective on Boise Cascade in a research report on Wednesday, May 6th. Zacks Research raised Boise Cascade from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings upgraded Boise Cascade from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, May 18th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Boise Cascade presently has an average rating of "Moderate Buy" and an average target price of $98.00.

About Boise Cascade

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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