Great Lakes Advisors LLC Decreases Stake in Boise Cascade, L.L.C. $BCC

Key Points

• Great Lakes Advisors LLC reduced its stake in Boise Cascade by 20.3%, now owning approximately 0.06% of the company, valued at $2,315,000.
• Boise Cascade reported a quarterly earnings miss with EPS of $1.64, which is lower than the consensus estimate of $1.69, and revenues fell 3.2% year-over-year.
• The company increased its quarterly dividend to $0.22 per share, resulting in an annualized dividend of $0.88 and a dividend yield of 1.0%.

Great Lakes Advisors LLC cut its holdings in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 20.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,598 shares of the construction company's stock after selling 6,026 shares during the period. Great Lakes Advisors LLC owned 0.06% of Boise Cascade worth $2,315,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Northwestern Mutual Wealth Management Co. grew its position in 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 last quarter. Farther Finance Advisors LLC grew its position in 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 last quarter. Blue Trust Inc. grew its position in 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 last quarter. Curat Global LLC purchased a new position in Boise Cascade in the 1st quarter valued at $122,000. Finally, GAMMA Investing LLC grew its position in 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 last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Boise Cascade Trading Down 2.9%

BCC traded down $2.48 during midday trading on Tuesday, hitting $82.65. The company's stock had a trading volume of 106,026 shares, compared to its average volume of 351,154. 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 firm has a market cap of $3.09 billion, a P/E ratio of 12.18, a PEG ratio of 5.10 and a beta of 1.33. The firm has a 50-day moving average price of $86.61 and a two-hundred day moving average price of $90.64. Boise Cascade, L.L.C. has a 52-week low of $80.01 and a 52-week high of $155.42.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The construction company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.05). The business had revenue of $1.74 billion during the quarter, compared to analysts' expectations of $1.76 billion. Boise Cascade had a net margin of 4.00% and a return on equity of 12.26%. The firm's quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.84 EPS. On average, research analysts anticipate 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 declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd will be issued a $0.22 dividend. This is a positive change from Boise Cascade's previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, September 2nd. This represents a $0.88 annualized dividend and a yield of 1.1%. Boise Cascade's dividend payout ratio (DPR) is presently 12.92%.

Insider Buying and Selling at Boise Cascade

In other Boise Cascade news, EVP Troy Little sold 2,033 shares of Boise Cascade stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $83.10, for a total value of $168,942.30. Following the completion of the sale, the executive vice president owned 12,701 shares in the company, valued at $1,055,453.10. The trade was a 13.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jill Twedt sold 1,782 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $83.97, for a total value of $149,634.54. Following the sale, the senior vice president owned 32,867 shares of the company's stock, valued at $2,759,841.99. The trade was a 5.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,815 shares of company stock worth $409,637 in the last 90 days. 1.11% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BCC. DA Davidson lowered their price objective on shares of Boise Cascade from $115.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. BMO Capital Markets reissued a "market perform" rating on shares of Boise Cascade in a report on Tuesday. Bank of America reduced their target price on Boise Cascade from $111.00 to $107.00 and set a "buy" rating for the company in a report on Wednesday, July 9th. Finally, Truist Financial reduced their target price on Boise Cascade from $106.00 to $101.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Boise Cascade presently has a consensus rating of "Moderate Buy" and an average price target of $112.83.

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.