Petrus Trust Company LTA Acquires New Shares in Boise Cascade, L.L.C. $BCC

Key Points

• Petrus Trust Company LTA acquired 3,512 shares of Boise Cascade valued at approximately $344,000 in the first quarter, contributing to a significant percentage of institutional ownership which now stands at 96.18%.
• Boise Cascade recently announced an increase in its quarterly dividend to $0.22 per share, yielding 1.0%, compared to the previous dividend of $0.21.
• Despite a miss on quarterly earnings expectations, analysts maintain a consensus rating of "Moderate Buy" for the stock, with a projected price target of $112.83.

Petrus Trust Company LTA acquired a new stake in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,512 shares of the construction company's stock, valued at approximately $344,000.

A number of other institutional investors have also recently made changes to their positions in BCC. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Boise Cascade by 120.7% during 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 during the period. Farther Finance Advisors LLC boosted its stake in shares of Boise Cascade by 338.5% during the first quarter. Farther Finance Advisors LLC now owns 478 shares of the construction company's stock valued at $47,000 after purchasing an additional 369 shares during the period. Blue Trust Inc. raised its holdings in shares of Boise Cascade by 93.7% during the first quarter. Blue Trust Inc. now owns 918 shares of the construction company's stock valued at $90,000 after acquiring an additional 444 shares in the last quarter. Curat Global LLC bought a new position in shares of Boise Cascade during the first quarter valued at approximately $122,000. Finally, GAMMA Investing LLC raised its holdings in shares of Boise Cascade by 60.6% during the first quarter. GAMMA Investing LLC now owns 1,458 shares of the construction company's stock valued at $143,000 after acquiring an additional 550 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company's stock.

Boise Cascade Stock Down 3.7%

BCC traded down $3.28 during trading on Friday, reaching $85.73. The stock had a trading volume of 227,540 shares, compared to its average volume of 325,653. The stock's 50 day moving average is $86.71 and its two-hundred day moving average is $90.85. 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 company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 12.59, a P/E/G ratio of 5.30 and a beta of 1.33. Boise Cascade, L.L.C. has a one year low of $80.01 and a one year high of $155.42.

Boise Cascade (NYSE:BCC - Get Free Report) last released its earnings results on Monday, August 4th. The construction company reported $1.64 EPS for the quarter, missing analysts' consensus estimates of $1.69 by ($0.05). Boise Cascade had a return on equity of 12.26% and a net margin of 4.00%.The company had revenue of $1.74 billion during the quarter, compared to analysts' expectations of $1.76 billion. During the same period in the prior year, the company posted $2.84 earnings per share. The company's revenue was down 3.2% on a year-over-year basis. As a group, analysts expect that Boise Cascade, L.L.C. will post 10.15 earnings per share for the current year.

Boise Cascade Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd will be paid a $0.22 dividend. This is an increase from Boise Cascade's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. Boise Cascade's payout ratio is currently 12.92%.

Insider Transactions at Boise Cascade

In other news, SVP Jill Twedt sold 1,782 shares of the stock in a transaction on 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 directly owned 32,867 shares of the company's stock, valued at approximately $2,759,841.99. This represents a 5.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jeffrey Robert Strom sold 1,000 shares of the stock in a transaction 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 sale, the chief operating officer directly owned 37,026 shares in the company, valued at $3,371,587.56. This trade represents a 2.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,815 shares of company stock valued at $409,637. Insiders own 0.98% of the company's stock.

Wall Street Analyst Weigh In

BCC has been the subject of a number of recent analyst reports. Truist Financial decreased 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. BMO Capital Markets decreased their target price on Boise Cascade from $114.00 to $108.00 and set a "market perform" rating for the company in a report on Thursday, August 7th. Bank of America decreased 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, DA Davidson decreased their target price on Boise Cascade from $115.00 to $100.00 and set a "buy" rating for the company in a report on Friday, July 18th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Boise Cascade has an average rating of "Moderate Buy" and a consensus target price 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.