Boise Cascade, L.L.C. $BCC Shares Acquired by Deutsche Bank AG

Key Points

• Deutsche Bank AG raised its stake in Boise Cascade by 69%, owning approximately 0.17% of the company worth $6,162,000 after acquiring an additional 25,656 shares during the first quarter.
• Boise Cascade recently announced an increase in its quarterly dividend from $0.21 to $0.22 per share, representing a dividend yield of 1.0% for shareholders.
• The company's latest earnings report revealed a 3.2% year-over-year revenue decline, with earnings per share of $1.64, missing analyst estimates by $0.05.

Deutsche Bank AG lifted its stake in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 69.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,823 shares of the construction company's stock after purchasing an additional 25,656 shares during the quarter. Deutsche Bank AG owned about 0.17% of Boise Cascade worth $6,162,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Vise Technologies Inc. raised its stake in Boise Cascade by 3.4% during the 4th quarter. Vise Technologies Inc. now owns 3,021 shares of the construction company's stock valued at $359,000 after buying an additional 100 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in Boise Cascade by 1.7% during the 1st quarter. SummerHaven Investment Management LLC now owns 6,708 shares of the construction company's stock valued at $658,000 after buying an additional 114 shares during the last quarter. Peak Financial Advisors LLC raised its stake in Boise Cascade by 4.8% during the 1st quarter. Peak Financial Advisors LLC now owns 3,624 shares of the construction company's stock valued at $355,000 after buying an additional 166 shares during the last quarter. Quarry LP raised its stake in Boise Cascade by 502.4% during the 4th quarter. Quarry LP now owns 253 shares of the construction company's stock valued at $30,000 after buying an additional 211 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Boise Cascade by 9.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,817 shares of the construction company's stock valued at $276,000 after buying an additional 251 shares during the last quarter. 96.18% of the stock is owned by institutional investors.

Boise Cascade Trading Down 3.6%

Shares of NYSE:BCC traded down $3.1650 during trading on Wednesday, reaching $84.8950. 133,112 shares of the company were exchanged, compared to its average volume of 355,952. The firm has a market capitalization of $3.17 billion, a PE ratio of 12.47, a P/E/G ratio of 5.04 and a beta of 1.28. The business's fifty day simple moving average is $87.04 and its 200-day simple moving average is $94.75. Boise Cascade, L.L.C. has a 12-month low of $80.01 and a 12-month 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.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its earnings results on Monday, August 4th. The construction company reported $1.64 EPS for the quarter, missing analysts' consensus estimates of $1.69 by ($0.05). The company had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.76 billion. Boise Cascade had a return on equity of 12.26% and a net margin of 4.00%.The business's revenue was down 3.2% compared to the same quarter last year. During the same period last year, the business posted $2.84 earnings per share. On average, research analysts anticipate that Boise Cascade, L.L.C. will post 10.15 EPS for the current year.

Boise Cascade Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.22 per share. This is a boost from Boise Cascade's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 2nd. Boise Cascade's payout ratio is 12.33%.

Insider Activity

In other Boise Cascade news, SVP Jill Twedt sold 1,782 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $83.97, for a total value of $149,634.54. Following the completion of the sale, the senior vice president directly owned 32,867 shares in the company, valued at $2,759,841.99. This trade represents a 5.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joanna L. Barney sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $87.68, for a total transaction of $87,680.00. Following the completion of the sale, the executive vice president owned 12,372 shares of the company's stock, valued at approximately $1,084,776.96. This trade represents a 7.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,015 shares of company stock worth $511,869. Corporate insiders own 1.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BCC. BMO Capital Markets decreased their target price on shares of 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. DA Davidson reduced their price objective 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 reduced their price objective 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 dropped their target price on shares of Boise Cascade from $106.00 to $101.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $112.83.

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.