Envestnet Asset Management Inc. Acquires 9,297 Shares of Boise Cascade, L.L.C. (NYSE:BCC)

Envestnet Asset Management Inc. raised its position in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 6.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 144,012 shares of the construction company's stock after purchasing an additional 9,297 shares during the quarter. Envestnet Asset Management Inc. owned about 0.38% of Boise Cascade worth $14,126,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in BCC. Quarry LP boosted its position in shares of 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 purchasing an additional 211 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Boise Cascade by 338.5% during the 1st quarter. Farther Finance Advisors LLC now owns 478 shares of the construction company's stock worth $47,000 after acquiring an additional 369 shares in the last quarter. Blue Trust Inc. raised its position in shares of Boise Cascade by 93.7% during the first quarter. Blue Trust Inc. now owns 918 shares of the construction company's stock worth $90,000 after purchasing an additional 444 shares during the period. Curat Global LLC purchased a new stake in shares of Boise Cascade during the first quarter valued at $122,000. Finally, GAMMA Investing LLC boosted its position 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 purchasing an additional 550 shares during the period. Institutional investors own 96.18% of the company's stock.

Boise Cascade Stock Performance

BCC traded down $2.83 during trading on Friday, reaching $83.89. 461,029 shares of the company's stock were exchanged, compared to its average volume of 326,971. The business has a 50 day moving average price of $88.61 and a 200 day moving average price of $100.68. The company has a market capitalization of $3.16 billion, a P/E ratio of 10.47, a PEG ratio of 3.88 and a beta of 1.34. Boise Cascade, L.L.C. has a fifty-two week low of $83.46 and a fifty-two week high of $155.42. The company has a quick ratio of 1.51, a current ratio of 2.82 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its earnings results on Monday, May 5th. The construction company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.30). The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Boise Cascade had a return on equity of 14.36% and a net margin of 4.72%. Boise Cascade's quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.61 EPS. As a group, analysts predict that Boise Cascade, L.L.C. will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.00%. The ex-dividend date was Monday, June 2nd. Boise Cascade's payout ratio is presently 10.49%.

Insider Activity

In other news, EVP Joanna L. Barney sold 1,000 shares of the 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 transaction, the executive vice president owned 12,372 shares of the company's stock, valued at $1,084,776.96. This represents a 7.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jill Twedt sold 1,200 shares of Boise Cascade stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $88.01, for a total value of $105,612.00. Following the sale, the senior vice president directly owned 34,649 shares of the company's stock, valued at approximately $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. Company insiders own 0.98% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on BCC shares. DA Davidson decreased their target price on Boise Cascade from $115.00 to $100.00 and set a "buy" rating for the company in a research report on Friday. Truist Financial reduced their price target on shares of Boise Cascade from $114.00 to $106.00 and set a "buy" rating for the company in a research report on Tuesday, July 8th. Bank of America lowered their price objective on shares of Boise Cascade from $111.00 to $107.00 and set a "buy" rating on the stock in a research report on Wednesday, July 9th. Finally, Loop Capital dropped their price objective on shares of Boise Cascade from $140.00 to $135.00 and set a "buy" rating on the stock 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $116.00.

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.