Caxton Associates LLP Takes $1.40 Million Position in Boise Cascade, L.L.C. $BCC

Key Points

• Caxton Associates LLP invested approximately $1.40 million in Boise Cascade by acquiring 14,293 shares during the first quarter.
• Boise Cascade recently declared an increased quarterly dividend of $0.22, reflecting a boost from the previous dividend of $0.21.
• Analysts have set a consensus price target of $112.83 for Boise Cascade, with many rating it a "Moderate Buy."

Caxton Associates LLP purchased a new stake in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 14,293 shares of the construction company's stock, valued at approximately $1,402,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. grew its stake in shares of Boise Cascade by 120.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 406 shares of the construction company's stock valued at $40,000 after buying an additional 222 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Boise Cascade by 338.5% in the 1st quarter. Farther Finance Advisors LLC now owns 478 shares of the construction company's stock valued at $47,000 after buying an additional 369 shares during the period. Blue Trust Inc. grew its stake in shares of Boise Cascade by 93.7% in the 1st quarter. Blue Trust Inc. now owns 918 shares of the construction company's stock valued at $90,000 after buying an additional 444 shares during the period. Curat Global LLC purchased a new stake in shares of Boise Cascade in the 1st quarter valued at approximately $122,000. Finally, GAMMA Investing LLC grew its stake in shares of Boise Cascade by 60.6% in the 1st quarter. GAMMA Investing LLC now owns 1,458 shares of the construction company's stock valued at $143,000 after buying an additional 550 shares during the period. Institutional investors and hedge funds own 96.18% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. DA Davidson lowered their price objective on shares of Boise Cascade from $115.00 to $100.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Bank of America lowered their price objective on shares of 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 lowered their price objective on shares of Boise Cascade from $114.00 to $108.00 and set a "market perform" rating for the company in a research report on Thursday, August 7th. Finally, Truist Financial lowered their price objective on shares of Boise Cascade from $106.00 to $101.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Boise Cascade presently has a consensus rating of "Moderate Buy" and a consensus target price of $112.83.

Boise Cascade Stock Down 0.9%

Shares of NYSE BCC traded down $0.73 during mid-day trading on Monday, reaching $84.95. The company had a trading volume of 54,209 shares, compared to its average volume of 351,460. Boise Cascade, L.L.C. has a 52-week low of $80.01 and a 52-week high of $155.42. The company has a current ratio of 2.96, a quick ratio of 1.54 and a debt-to-equity ratio of 0.21. The stock has a market cap of $3.17 billion, a P/E ratio of 12.48, a PEG ratio of 5.10 and a beta of 1.33. The firm has a 50 day simple moving average of $86.71 and a two-hundred day simple moving average of $90.77.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $1.76 billion. During the same period in the previous year, the business posted $2.84 earnings per share. The company's revenue for the quarter was down 3.2% on a year-over-year basis. Sell-side analysts predict that Boise Cascade, L.L.C. will post 10.15 earnings per share for the current year.

Boise Cascade Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is an increase from Boise Cascade's previous quarterly dividend of $0.21. Boise Cascade's payout ratio is 12.92%.

Insiders Place Their Bets

In other Boise Cascade news, EVP Troy Little sold 2,033 shares of the firm's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $83.10, for a total transaction of $168,942.30. Following the transaction, the executive vice president directly owned 12,701 shares of the company's stock, valued at approximately $1,055,453.10. This trade represents a 13.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jill Twedt sold 1,782 shares of the firm'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 transaction, the senior vice president directly owned 32,867 shares in the company, valued at $2,759,841.99. The trade was a 5.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,815 shares of company stock valued at $409,637. Insiders own 0.98% of the company's stock.

Boise Cascade 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.