Intech Investment Management LLC Sells 21,419 Shares of Boise Cascade, L.L.C. $BCC

Key Points

• Intech Investment Management cut its Boise Cascade stake by 56.9% in the fourth quarter, selling 21,419 shares and leaving it with 16,200 shares worth about $1.19 million.
• Boise Cascade reported better-than-expected quarterly results, with EPS of $0.50 versus the $0.43 estimate and revenue of $1.50 billion versus $1.46 billion expected, though revenue still declined 2.5% year over year.
• The company also announced a quarterly dividend of $0.22 per share, while analysts currently rate the stock a Moderate Buy with an average price target of $98.00.

Intech Investment Management LLC lowered its stake in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 56.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 16,200 shares of the construction company's stock after selling 21,419 shares during the period. Intech Investment Management LLC's holdings in Boise Cascade were worth $1,192,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd boosted its stake in Boise Cascade by 231.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company's stock valued at $29,000 after purchasing an additional 259 shares during the last quarter. Fifth Third Bancorp boosted its stake in Boise Cascade by 77.5% during the 4th quarter. Fifth Third Bancorp now owns 410 shares of the construction company's stock valued at $30,000 after purchasing an additional 179 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in Boise Cascade by 1,071.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 492 shares of the construction company's stock valued at $38,000 after purchasing an additional 450 shares during the last quarter. Advisory Services Network LLC acquired a new position in Boise Cascade during the 3rd quarter valued at about $38,000. Finally, Signaturefd LLC boosted its stake in Boise Cascade by 5,866.7% during the 4th quarter. Signaturefd LLC now owns 537 shares of the construction company's stock valued at $40,000 after purchasing an additional 528 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company's stock.

Boise Cascade Price Performance

BCC opened at $68.18 on Friday. The firm has a market cap of $2.40 billion, a P/E ratio of 23.03, a PEG ratio of 1.02 and a beta of 1.09. The firm has a 50-day moving average of $74.15 and a 200 day moving average of $76.78. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.37 and a current ratio of 2.77. Boise Cascade, L.L.C. has a fifty-two week low of $65.00 and a fifty-two week high of $95.00.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The construction company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.07. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.46 billion. Boise Cascade had a net margin of 1.73% and a return on equity of 5.55%. The firm's revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.06 earnings per share. On average, research analysts expect that Boise Cascade, L.L.C. will post 3.67 EPS for the current year.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Monday, June 1st will be paid a dividend of $0.22 per share. The ex-dividend date is Monday, June 1st. This represents a $0.88 annualized dividend and a dividend yield of 1.3%. Boise Cascade's dividend payout ratio (DPR) is presently 29.73%.

Insider Activity

In other news, SVP Jill Twedt sold 6,070 shares of the firm's stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $66.45, for a total transaction of $403,351.50. Following the completion of the sale, the senior vice president owned 26,545 shares in the company, valued at $1,763,915.25. This trade represents a 18.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.42% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Weiss Ratings upgraded Boise Cascade from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, May 18th. Wall Street Zen upgraded Boise Cascade from a "sell" rating to a "hold" rating in a research note on Saturday, February 28th. Zacks Research upgraded Boise Cascade from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 6th. DA Davidson cut their price target on Boise Cascade from $95.00 to $92.00 and set a "buy" rating for the company in a research note on Wednesday, May 6th. Finally, The Goldman Sachs Group lifted their price target on Boise Cascade from $85.00 to $94.00 and gave the company a "neutral" rating in a research note on Wednesday, February 25th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $98.00.

Boise Cascade Company Profile

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company's operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.

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