Boise Cascade, L.L.C. $BCC Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC lowered its position in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 60.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 91,862 shares of the construction company's stock after selling 143,279 shares during the period. Squarepoint Ops LLC owned 0.26% of Boise Cascade worth $7,131,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in Boise Cascade during the 2nd quarter valued at about $463,729,000. California State Teachers Retirement System increased its stake in shares of Boise Cascade by 7,450.4% in the second quarter. California State Teachers Retirement System now owns 3,278,315 shares of the construction company's stock valued at $254,496,000 after purchasing an additional 3,234,896 shares during the period. Wellington Management Group LLP increased its stake in shares of Boise Cascade by 19.8% in the third quarter. Wellington Management Group LLP now owns 3,268,407 shares of the construction company's stock valued at $252,713,000 after purchasing an additional 539,962 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Boise Cascade by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,325,781 shares of the construction company's stock valued at $176,410,000 after buying an additional 46,561 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Boise Cascade by 0.3% during the fourth quarter. State Street Corp now owns 1,472,071 shares of the construction company's stock valued at $108,344,000 after buying an additional 3,817 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BCC. The Goldman Sachs Group increased their price objective on Boise Cascade from $81.00 to $91.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Zacks Research lowered Boise Cascade from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 17th. Wall Street Zen raised Boise Cascade from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. DA Davidson increased their price target on Boise Cascade from $92.00 to $99.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Finally, Bank of America raised their price target on Boise Cascade from $80.00 to $81.00 and gave the company an "underperform" rating in a report on Tuesday, July 14th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $93.60.

Boise Cascade Price Performance

NYSE BCC opened at $74.97 on Friday. Boise Cascade, L.L.C. has a 12 month low of $65.00 and a 12 month high of $91.97. The firm has a market capitalization of $2.62 billion, a PE ratio of 25.41, a P/E/G ratio of 1.02 and a beta of 1.08. The company's 50 day simple moving average is $78.92 and its 200 day simple moving average is $76.04. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.71 and a quick ratio of 1.31.

Boise Cascade (NYSE:BCC - Get Free Report) last released its earnings results on Monday, August 3rd. The construction company reported $1.63 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.40. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.77 billion. Boise Cascade had a return on equity of 5.41% and a net margin of 1.64%.The firm's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.64 earnings per share. As a group, equities research analysts forecast that Boise Cascade, L.L.C. will post 3.86 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Tuesday, September 1st will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.2%. This is a positive change from Boise Cascade's previous quarterly dividend of $0.22. The ex-dividend date is Tuesday, September 1st. Boise Cascade's payout ratio is currently 31.19%.

Insider Activity

In related news, Director Kristopher Matula sold 1,930 shares of the firm's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total transaction of $163,239.40. Following the completion of the transaction, the director owned 13,982 shares of the company's stock, valued at $1,182,597.56. This trade represents a 12.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Jill Twedt sold 1,250 shares of Boise Cascade stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $79.40, for a total value of $99,250.00. Following the transaction, the senior vice president directly owned 25,295 shares in the company, valued at approximately $2,008,423. The trade was a 4.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.42% of the company's stock.

Boise Cascade 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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