MQS Management LLC Takes $403,000 Position in Boise Cascade, L.L.C. (NYSE:BCC)

MQS Management LLC acquired a new position in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,109 shares of the construction company's stock, valued at approximately $403,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. increased its holdings in Boise Cascade by 3.9% in the fourth quarter. Westwood Holdings Group Inc. now owns 1,192,621 shares of the construction company's stock worth $141,755,000 after buying an additional 45,010 shares during the last quarter. American Century Companies Inc. grew its holdings in Boise Cascade by 12.0% during the fourth quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company's stock valued at $134,831,000 after purchasing an additional 121,790 shares during the last quarter. First Trust Advisors LP grew its holdings 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 purchasing an additional 195,773 shares during the last quarter. Northern Trust Corp grew 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 valued at $57,429,000 after purchasing an additional 73,061 shares during the last quarter. Finally, Norges Bank acquired a new position in Boise Cascade during the fourth quarter valued at approximately $55,680,000. Institutional investors and hedge funds own 96.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Loop Capital lowered their price target on Boise Cascade from $140.00 to $135.00 and set a "buy" rating on the stock in a report on Monday, April 14th. 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 note on Wednesday, July 9th. Finally, Truist Financial lowered their price objective on shares of Boise Cascade from $114.00 to $106.00 and set a "buy" rating on the stock in a research note on Tuesday, July 8th. Four investment analysts have rated the stock with a hold rating and four have assigned 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 $120.17.

Insider Buying and Selling at Boise Cascade

In other Boise Cascade news, 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 transaction of $105,612.00. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joanna L. Barney sold 1,000 shares of Boise Cascade stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $87.68, for a total value of $87,680.00. Following the transaction, the executive vice president directly owned 12,372 shares of the company's stock, valued at approximately $1,084,776.96. The trade was a 7.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is owned by company insiders.

Boise Cascade Stock Performance

BCC stock traded up $0.76 during midday trading on Thursday, hitting $86.88. The stock had a trading volume of 333,663 shares, compared to its average volume of 325,942. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 10.85, a P/E/G ratio of 3.98 and a beta of 1.34. Boise Cascade, L.L.C. has a 52 week low of $83.60 and a 52 week high of $155.42. The stock has a 50-day simple moving average of $88.70 and a 200 day simple moving average of $101.05. The company has a current ratio of 2.82, a quick ratio of 1.51 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC - Get Free Report) last issued 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 firm had revenue of $1.54 billion during 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%. The firm's revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period last year, the business earned $2.61 earnings per share. As a group, equities research analysts anticipate that Boise Cascade, L.L.C. will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.84 annualized dividend and a yield of 0.97%. Boise Cascade's dividend payout ratio (DPR) is currently 10.49%.

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.