Boise Cascade, L.L.C. $BCC Shares Sold by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd reduced its stake in Boise Cascade by 48.5% during the first quarter, now holding 5,060 shares valued at approximately $496,000.
• Boise Cascade's recent earnings report showed $1.64 earnings per share, missing estimates by $0.05, and the company's revenue declined by 3.2% year-over-year.
• The firm announced an increase in its quarterly dividend from $0.21 to $0.22 per share, which will be paid on September 17th.

Dynamic Technology Lab Private Ltd lessened its holdings in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 48.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,060 shares of the construction company's stock after selling 4,760 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Boise Cascade were worth $496,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of BCC. Westwood Holdings Group Inc. boosted its position in Boise Cascade by 25.7% during the first quarter. Westwood Holdings Group Inc. now owns 1,499,305 shares of the construction company's stock worth $147,067,000 after acquiring an additional 306,684 shares during the last quarter. GAMMA Investing LLC boosted its position in Boise Cascade by 15,650.6% during the first quarter. GAMMA Investing LLC now owns 143,015 shares of the construction company's stock worth $14,028,000 after acquiring an additional 142,107 shares during the last quarter. American Century Companies Inc. boosted its position in Boise Cascade by 8.1% during the first quarter. American Century Companies Inc. now owns 1,226,383 shares of the construction company's stock worth $120,296,000 after acquiring an additional 92,019 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Boise Cascade during the first quarter worth approximately $8,617,000. Finally, Tidal Investments LLC raised its stake in Boise Cascade by 534.5% during the fourth quarter. Tidal Investments LLC now owns 100,295 shares of the construction company's stock worth $11,921,000 after purchasing an additional 84,487 shares during the period. Institutional investors and hedge funds own 96.18% of the company's stock.

Analyst Upgrades and Downgrades

BCC has been the topic of a number of recent analyst reports. Bank of America cut their price target on shares of Boise Cascade from $111.00 to $107.00 and set a "buy" rating on the stock in a research note on Wednesday, July 9th. Truist Financial cut their price target on shares of Boise Cascade from $106.00 to $101.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. BMO Capital Markets reaffirmed a "market perform" rating and set a $100.00 price target on shares of Boise Cascade in a research note on Tuesday. Finally, DA Davidson cut their price target on shares of Boise Cascade from $115.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $111.50.

Insider Activity at Boise Cascade

In related news, COO Jeffrey Robert Strom sold 1,000 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $91.06, for a total transaction of $91,060.00. Following the completion of the sale, the chief operating officer directly owned 37,026 shares of the company's stock, valued at approximately $3,371,587.56. This trade represents a 2.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jill Twedt sold 1,782 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $83.97, for a total transaction of $149,634.54. Following the sale, the senior vice president directly owned 32,867 shares of the company's stock, valued at approximately $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 sold 4,815 shares of company stock valued at $409,637. Corporate insiders own 1.11% of the company's stock.

Boise Cascade Trading Down 3.2%

Shares of BCC stock traded down $2.69 during mid-day trading on Tuesday, reaching $82.43. The company's stock had a trading volume of 488,413 shares, compared to its average volume of 296,950. The company's 50 day simple moving average is $86.45 and its 200-day simple moving average is $90.58. 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 quick ratio of 1.54, a current ratio of 2.96 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $3.08 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 5.06 and a beta of 1.33.

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). Boise Cascade had a net margin of 4.00% and a return on equity of 12.26%. The business had revenue of $1.74 billion during the quarter, compared to analysts' expectations of $1.76 billion. During the same period in the prior year, the business posted $2.84 EPS. The business's revenue was down 3.2% on a year-over-year basis. On average, research analysts predict that Boise Cascade, L.L.C. will post 10.15 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Investors 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 yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from Boise Cascade's previous quarterly dividend of $0.21. Boise Cascade's dividend payout ratio (DPR) is 12.92%.

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.