Boise Cascade, L.L.C. $BCC Shares Purchased by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Boise Cascade by 8.1%, owning over 1.2 million shares valued at approximately $120 million, highlighting strong institutional interest in the company.
• Boise Cascade reported a fall in quarterly revenue by 3.2% compared to last year, with an EPS of $1.64, missing expectations by $0.05.
• The company is set to pay a quarterly dividend of $0.22 on September 17th, increasing from $0.21, reflecting a commitment to return value to shareholders.

American Century Companies Inc. grew its holdings in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 8.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,226,383 shares of the construction company's stock after purchasing an additional 92,019 shares during the period. American Century Companies Inc. owned approximately 3.26% of Boise Cascade worth $120,296,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BCC. Vanguard Group Inc. boosted its stake in shares of Boise Cascade by 1.6% during the 1st 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 in the last quarter. Westwood Holdings Group Inc. increased its stake in Boise Cascade by 25.7% in the 1st 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 in the last quarter. First Trust Advisors LP increased its stake in Boise Cascade by 37.9% in the 4th 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 in the last quarter. Northern Trust Corp increased its stake in Boise Cascade by 17.8% in the 4th 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Boise Cascade by 1.0% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 96.18% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BCC. 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 research note on Friday, July 18th. Bank of America cut their price objective on Boise Cascade from $111.00 to $107.00 and set a "buy" rating for the company in a research report on Wednesday, July 9th. BMO Capital Markets reduced their target price on Boise Cascade from $114.00 to $108.00 and set a "market perform" rating on the stock in a research note on Thursday, August 7th. Finally, Truist Financial reduced their target price on Boise Cascade from $106.00 to $101.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Four equities 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, Boise Cascade has an average rating of "Moderate Buy" and an average target price of $112.83.

Boise Cascade Trading Up 0.1%

Shares of Boise Cascade stock traded up $0.1190 during trading hours on Thursday, reaching $84.6190. 331,448 shares of the company's stock were exchanged, compared to its average volume of 356,351. Boise Cascade, L.L.C. has a 52-week low of $80.01 and a 52-week high of $155.42. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 5.24 and a beta of 1.28. The company has a fifty day moving average of $86.95 and a 200-day moving average of $94.68. The company has a current ratio of 2.96, a quick ratio of 1.54 and a debt-to-equity ratio of 0.21.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The construction company reported $1.64 earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.76 billion. During the same period in the prior year, the company earned $2.84 EPS. The company's revenue for the quarter was down 3.2% compared to the same quarter last year. Sell-side analysts forecast that Boise Cascade, L.L.C. will post 10.15 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 17th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.22 per share. 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. This is a positive change from Boise Cascade's previous quarterly dividend of $0.21. Boise Cascade's payout ratio is currently 12.92%.

Insider Transactions at Boise Cascade

In other news, SVP Jill Twedt sold 1,782 shares of the company's stock in a transaction on 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 sale, the senior vice president directly owned 32,867 shares in the company, valued at $2,759,841.99. This represents a 5.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Joanna L. Barney sold 1,000 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $87.68, for a total value of $87,680.00. Following the sale, the executive vice president owned 12,372 shares of the company's stock, valued at approximately $1,084,776.96. The trade was a 7.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,015 shares of company stock worth $511,869 in the last ninety days. 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.