Boise Cascade, L.L.C. (NYSE:BCC) Holdings Trimmed by Jennison Associates LLC

Jennison Associates LLC cut its stake in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 30.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,811 shares of the construction company's stock after selling 3,408 shares during the quarter. Jennison Associates LLC's holdings in Boise Cascade were worth $766,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in BCC. Westwood Holdings Group Inc. grew its stake in shares of Boise Cascade by 3.9% during the fourth quarter. Westwood Holdings Group Inc. now owns 1,192,621 shares of the construction company's stock valued at $141,755,000 after acquiring an additional 45,010 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Boise Cascade by 12.0% during the fourth quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company's stock valued at $134,831,000 after acquiring an additional 121,790 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Boise Cascade by 37.9% during the fourth 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. Northern Trust Corp grew its stake in shares of Boise Cascade by 17.8% during the fourth quarter. Northern Trust Corp now owns 483,165 shares of the construction company's stock valued at $57,429,000 after acquiring an additional 73,061 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Boise Cascade during the fourth quarter valued at about $55,680,000. 96.18% of the stock is owned by hedge funds and other institutional investors.

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 transaction of $87,680.00. Following the sale, the executive vice president owned 12,372 shares of the company's stock, valued at $1,084,776.96. The trade was a 7.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jill Twedt sold 1,200 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $88.01, for a total value of $105,612.00. Following the sale, the senior vice president directly owned 34,649 shares in the company, valued at approximately $3,049,458.49. The trade was a 3.35% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BCC. Loop Capital decreased their price target on Boise Cascade from $140.00 to $135.00 and set a "buy" rating for the company in a research note on Monday, April 14th. DA Davidson decreased 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 decreased 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, Truist Financial decreased their price target on Boise Cascade from $114.00 to $106.00 and set a "buy" rating for the company in a research note on Tuesday, July 8th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $116.00.

Boise Cascade Stock Performance

BCC stock traded down $2.01 during midday trading on Thursday, reaching $86.35. The company had a trading volume of 124,790 shares, compared to its average volume of 350,523. The company has a quick ratio of 1.51, a current ratio of 2.82 and a debt-to-equity ratio of 0.22. The stock has a 50 day moving average price of $88.22 and a 200 day moving average price of $100.15. Boise Cascade, L.L.C. has a fifty-two week low of $83.09 and a fifty-two week high of $155.42. The firm has a market capitalization of $3.25 billion, a PE ratio of 10.78, a P/E/G ratio of 4.25 and a beta of 1.34.

Boise Cascade (NYSE:BCC - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The construction company reported $1.06 earnings per share for the quarter, missing analysts' consensus estimates of $1.36 by ($0.30). The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Boise Cascade had a net margin of 4.72% and a return on equity of 14.36%. The business's quarterly revenue was down 6.6% on a year-over-year basis. During the same period last year, the firm posted $2.61 EPS. Analysts anticipate that Boise Cascade, L.L.C. will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.97%. Boise Cascade's dividend payout ratio (DPR) is presently 10.49%.

Boise Cascade Company Profile

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.