OMERS ADMINISTRATION Corp Has $1.38 Million Position in Boise Cascade, L.L.C. $BCC

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Boise Cascade by 58.3%, owning 14,088 shares worth approximately $1.38 million after acquiring an additional 5,188 shares.
• Boise Cascade reported a quarterly revenue of $1.74 billion, missing analyst estimates, with a net margin of 4.00% and a return on equity of 12.26%.
• The company recently announced a dividend increase from $0.21 to $0.22 per share, reflecting an annualized payout of $0.88 and a dividend yield of 1.0%.

OMERS ADMINISTRATION Corp increased its stake in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 58.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,088 shares of the construction company's stock after acquiring an additional 5,188 shares during the period. OMERS ADMINISTRATION Corp's holdings in Boise Cascade were worth $1,382,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in BCC. Quarry LP grew its position in Boise Cascade by 502.4% in the fourth 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. Northwestern Mutual Wealth Management Co. grew its position in Boise Cascade by 120.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 406 shares of the construction company's stock valued at $40,000 after purchasing an additional 222 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of 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 acquiring an additional 369 shares during the period. Blue Trust Inc. grew its position in shares of 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 acquiring an additional 444 shares during the period. Finally, Curat Global LLC bought a new position in shares of Boise Cascade in the 1st quarter valued at about $122,000. Institutional investors own 96.18% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on BCC. BMO Capital Markets decreased their price objective on shares of Boise Cascade from $114.00 to $108.00 and set a "market perform" rating for the company in a research report on Thursday, August 7th. DA Davidson decreased their price objective on shares of Boise Cascade from $115.00 to $100.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Bank of America reduced their target price on shares of 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 shares of 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 assigned a Hold rating to the stock. Based on data from MarketBeat, Boise Cascade has an average rating of "Moderate Buy" and an average price target of $112.83.

Boise Cascade Stock Performance

Boise Cascade stock traded up $3.11 during midday trading on Thursday, hitting $87.08. The company's stock had a trading volume of 270,770 shares, compared to its average volume of 354,390. Boise Cascade, L.L.C. has a 1-year low of $80.01 and a 1-year high of $155.42. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.96 and a quick ratio of 1.54. The company has a 50-day moving average price of $87.17 and a two-hundred day moving average price of $92.21. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 5.18 and a beta of 1.33.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The construction company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.05). Boise Cascade had a return on equity of 12.26% and a net margin of 4.00%.The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the firm earned $2.84 EPS. Boise Cascade's revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, sell-side analysts predict 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd will be paid 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 1.0%. Boise Cascade's dividend payout ratio is presently 12.33%.

Insider Activity

In other news, COO Jeffrey Robert Strom sold 1,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $91.06, for a total value of $91,060.00. Following the completion of the transaction, the chief operating officer directly owned 37,026 shares in the company, valued at approximately $3,371,587.56. The trade was a 2.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jill Twedt sold 1,782 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $83.97, for a total transaction of $149,634.54. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,815 shares of company stock worth $409,637. 1.11% of the stock is currently owned by corporate insiders.

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.