Empirical Financial Services LLC d.b.a. Empirical Wealth Management Trims Stock Position in Boise Cascade, L.L.C. (NYSE:BCC)

Key Points

• Empirical Wealth Management sold 3,242 shares of Boise Cascade, reducing its holdings by 55% to a total of 2,648 shares, valued at approximately $260,000.
• Boise Cascade reported earnings of $1.06 per share for the last quarter, missing expectations by $0.30, with a year-over-year revenue decline of 6.6%.
• The company announced an increase in its quarterly dividend to $0.22 per share, reflecting an annual yield of 1.1% and a payout ratio of 10.49%.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management decreased its stake in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 55.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,648 shares of the construction company's stock after selling 3,242 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Boise Cascade were worth $260,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of BCC. Westwood Holdings Group Inc. lifted its holdings in 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 worth $141,755,000 after acquiring an additional 45,010 shares during the period. First Trust Advisors LP grew its position in 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 buying an additional 195,773 shares during the period. Northern Trust Corp increased its holdings in Boise Cascade by 17.8% during the fourth quarter. Northern Trust Corp now owns 483,165 shares of the construction company's stock worth $57,429,000 after buying an additional 73,061 shares during the last quarter. Invesco Ltd. boosted its stake in Boise Cascade by 8.7% in the fourth quarter. Invesco Ltd. now owns 358,368 shares of the construction company's stock valued at $42,596,000 after acquiring an additional 28,814 shares during the last quarter. Finally, Marshall Wace LLP grew its position in shares of Boise Cascade by 6.8% during the 4th quarter. Marshall Wace LLP now owns 356,912 shares of the construction company's stock valued at $42,423,000 after acquiring an additional 22,678 shares during the period. Institutional investors and hedge funds own 96.18% of the company's stock.

Boise Cascade Price Performance

Boise Cascade stock traded up $4.51 during midday trading on Tuesday, reaching $87.22. 854,268 shares of the stock were exchanged, compared to its average volume of 361,285. Boise Cascade, L.L.C. has a 52 week low of $80.30 and a 52 week high of $155.42. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.51 and a current ratio of 2.82. The firm has a market cap of $3.28 billion, a PE ratio of 12.81, a PEG ratio of 4.03 and a beta of 1.28. The company's fifty day moving average is $87.62 and its 200-day moving average is $97.81.

Boise Cascade (NYSE:BCC - Get Free Report) last posted 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 net margin of 4.00% and a return on equity of 12.29%. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the prior year, the business posted $2.84 EPS. Boise Cascade's quarterly revenue was down 3.2% on a year-over-year basis. On average, sell-side analysts forecast that Boise Cascade, L.L.C. will post 10.15 EPS for the current year.

Boise Cascade Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.0%. 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 payout ratio is currently 10.49%.

Insiders Place Their Bets

In other Boise Cascade news, EVP Joanna L. Barney sold 1,000 shares of Boise Cascade stock in a transaction dated Wednesday, June 4th. The stock was 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 $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 SEC, which is available at this hyperlink. Also, SVP Jill Twedt sold 1,200 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $88.01, for a total value of $105,612.00. Following the transaction, the senior vice president owned 34,649 shares in the company, valued at $3,049,458.49. This trade represents a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.11% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Truist Financial lowered their price target on shares of Boise Cascade from $114.00 to $106.00 and set a "buy" rating on the stock in a report on Tuesday, July 8th. Bank of America dropped their price objective on shares of Boise Cascade from $111.00 to $107.00 and set a "buy" rating on the stock in a report on Wednesday, July 9th. DA Davidson dropped 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. Finally, Loop Capital reduced their price objective on shares of Boise Cascade from $140.00 to $135.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Boise Cascade currently has a consensus rating of "Moderate Buy" and a consensus price target of $116.00.

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.