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

MQS Management LLC purchased a new stake in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,109 shares of the construction company's stock, valued at approximately $403,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Boise Cascade in the fourth quarter valued at $55,680,000. First Trust Advisors LP raised 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. GAMMA Investing LLC lifted its stake in Boise Cascade by 15,650.6% in the 1st quarter. GAMMA Investing LLC now owns 143,015 shares of the construction company's stock worth $14,028,000 after acquiring an additional 142,107 shares in the last quarter. American Century Companies Inc. lifted its stake in Boise Cascade by 12.0% in the 4th quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company's stock worth $134,831,000 after acquiring an additional 121,790 shares in the last quarter. Finally, Tidal Investments LLC boosted its position in Boise Cascade by 534.5% during the 4th quarter. Tidal Investments LLC now owns 100,295 shares of the construction company's stock worth $11,921,000 after acquiring an additional 84,487 shares during the period. Institutional investors and hedge funds own 96.18% of the company's stock.

Insiders Place Their Bets

In other news, SVP Jill Twedt sold 1,200 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $88.01, for a total transaction of $105,612.00. Following the transaction, the senior vice president owned 34,649 shares of the company's stock, valued at approximately $3,049,458.49. This represents a 3.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Joanna L. Barney sold 1,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 12,372 shares in the company, valued at $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. Corporate insiders own 1.11% of the company's stock.

Boise Cascade Stock Down 2.3%

Shares of Boise Cascade stock opened at $91.16 on Monday. The stock has a 50-day simple moving average of $88.86 and a 200-day simple moving average of $101.70. Boise Cascade, L.L.C. has a 52-week low of $83.60 and a 52-week high of $155.42. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 11.38, a P/E/G ratio of 4.22 and a beta of 1.34. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.82 and a quick ratio of 1.51.

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

Boise Cascade Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Monday, June 2nd. Boise Cascade's dividend payout ratio is presently 10.49%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BCC. Truist Financial dropped their target price on 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 research note on Wednesday, July 9th. Finally, Loop Capital cut their target price on shares of Boise Cascade from $140.00 to $135.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $120.17.

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.

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