Dimensional Fund Advisors LP Has $221.61 Million Stock Holdings in Boise Cascade, L.L.C. $BCC

Key Points

• Dimensional Fund Advisors LP reduced its holdings in Boise Cascade by 7.4%, owning 2,259,325 shares, while other institutional investors like Quarry LP and Farther Finance Advisors LLC increased their positions significantly.
• Boise Cascade reported $1.64 earnings per share for the last quarter, missing analysts' estimates of $1.69, and its revenue declined by 3.2% year-over-year.
• The company declared a quarterly dividend increase to $0.22 per share, with the ex-dividend date on September 2nd, representing a 1.0% annualized dividend yield.

Dimensional Fund Advisors LP lowered its position in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 7.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,259,325 shares of the construction company's stock after selling 181,024 shares during the quarter. Dimensional Fund Advisors LP owned approximately 6.00% of Boise Cascade worth $221,614,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Boise Cascade by 1.6% during the first quarter. Vanguard Group Inc. now owns 4,422,544 shares of the construction company's stock worth $433,807,000 after acquiring an additional 70,231 shares during the last quarter. Westwood Holdings Group Inc. increased its holdings in Boise Cascade by 25.7% in the first quarter. Westwood Holdings Group Inc. now owns 1,499,305 shares of the construction company's stock valued at $147,067,000 after purchasing an additional 306,684 shares during the last quarter. First Trust Advisors LP increased its holdings in Boise Cascade by 37.9% in the fourth quarter. First Trust Advisors LP now owns 712,527 shares of the construction company's stock valued at $84,691,000 after purchasing an additional 195,773 shares during the last quarter. Northern Trust Corp increased its holdings in Boise Cascade by 17.8% in the fourth quarter. Northern Trust Corp now owns 483,165 shares of the construction company's stock valued at $57,429,000 after purchasing an additional 73,061 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Boise Cascade by 1.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 448,133 shares of the construction company's stock valued at $43,957,000 after purchasing an additional 4,442 shares during the last quarter. Institutional investors own 96.18% of the company's stock.

Boise Cascade Trading Up 7.6%

Shares of Boise Cascade stock traded up $6.4330 during trading hours on Friday, hitting $91.1030. The company's stock had a trading volume of 500,683 shares, compared to its average volume of 396,381. Boise Cascade, L.L.C. has a 12 month low of $80.01 and a 12 month high of $155.42. The stock has a 50 day moving average of $87.00 and a 200 day moving average of $94.16. The company has a market capitalization of $3.40 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 5.04 and a beta of 1.28. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.96 and a quick ratio of 1.54.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The construction company reported $1.64 earnings per share (EPS) 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 business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the company earned $2.84 earnings per share. The firm's revenue was down 3.2% compared to the same quarter last year. Analysts predict that Boise Cascade, L.L.C. will post 10.15 earnings per share for the current year.

Boise Cascade Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd will be given 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 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. Boise Cascade's payout ratio is currently 12.33%.

Analysts Set New Price Targets

A number of research firms recently commented on BCC. Truist Financial dropped their price objective on Boise Cascade from $106.00 to $101.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Bank of America dropped their price objective on Boise Cascade from $111.00 to $107.00 and set a "buy" rating for the company in a report on Wednesday, July 9th. DA Davidson dropped their price objective on Boise Cascade from $115.00 to $100.00 and set a "buy" rating for the company in a report on Friday, July 18th. Finally, BMO Capital Markets dropped their price objective on Boise Cascade from $114.00 to $108.00 and set a "market perform" rating for the company in a report on Thursday, August 7th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $112.83.

Insider Transactions at Boise Cascade

In other news, SVP Jill Twedt sold 1,782 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $83.97, for a total transaction of $149,634.54. Following the completion of the transaction, the senior vice president directly owned 32,867 shares of the company's stock, valued at $2,759,841.99. This represents a 5.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joanna L. Barney sold 1,000 shares of the company's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $87.68, for a total value of $87,680.00. Following the transaction, the executive vice president directly owned 12,372 shares of the company's stock, valued at $1,084,776.96. This represents a 7.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,015 shares of company stock valued at $511,869 over the last three months. Company insiders own 0.98% of the company's stock.

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.