Boise Cascade, L.L.C. (NYSE:BCC) Shares Purchased by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its holdings in Boise Cascade by 27.4%, owning approximately $11.95 million worth of shares after purchasing an additional 26,184 shares.
• Several hedge funds have significantly increased their stakes in Boise Cascade, including Blue Trust Inc., which raised its position by 93.7%.
• A recent decrease in price targets by analysts reflects a cautious outlook, with the average target price adjusted to $112.83 and a consensus rating of "Moderate Buy".

Public Sector Pension Investment Board boosted its holdings in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 27.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 121,831 shares of the construction company's stock after purchasing an additional 26,184 shares during the quarter. Public Sector Pension Investment Board owned about 0.32% of Boise Cascade worth $11,950,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Quarry LP increased its stake 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 during the period. Farther Finance Advisors LLC increased its stake in Boise Cascade by 338.5% in 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. increased its stake in Boise Cascade by 93.7% in the first quarter. Blue Trust Inc. now owns 918 shares of the construction company's stock valued at $90,000 after purchasing an additional 444 shares during the period. Curat Global LLC acquired a new position in Boise Cascade in the first quarter valued at $122,000. Finally, GAMMA Investing LLC increased its stake in Boise Cascade by 60.6% in the first quarter. GAMMA Investing LLC now owns 1,458 shares of the construction company's stock valued at $143,000 after purchasing an additional 550 shares during the period. 96.18% of the stock is owned by institutional investors and hedge funds.

Boise Cascade Price Performance

Shares of BCC stock traded down $0.38 during mid-day trading on Friday, reaching $86.24. The stock had a trading volume of 807,947 shares, compared to its average volume of 384,836. Boise Cascade, L.L.C. has a 12-month low of $80.01 and a 12-month high of $155.42. The company has a market cap of $3.22 billion, a P/E ratio of 12.66, a price-to-earnings-growth ratio of 5.15 and a beta of 1.28. The business has a 50-day simple moving average of $87.16 and a 200 day simple moving average of $95.53. The company has a current ratio of 2.96, a quick ratio of 1.54 and a debt-to-equity ratio of 0.21.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The construction company reported $1.64 EPS for the quarter, missing analysts' consensus estimates of $1.69 by ($0.05). The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.76 billion. Boise Cascade had a net margin of 4.00% and a return on equity of 12.26%. The firm's revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.84 EPS. On average, sell-side analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. 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%. Boise Cascade's dividend payout ratio is 12.33%.

Insider Activity at Boise Cascade

In related 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 transaction of $149,634.54. Following the sale, the senior vice president owned 32,867 shares of the company's stock, valued at $2,759,841.99. This trade represents a 5.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Troy Little sold 2,033 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $83.10, for a total value of $168,942.30. Following the sale, the executive vice president directly owned 12,701 shares in the company, valued at approximately $1,055,453.10. The trade was a 13.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,015 shares of company stock valued at $511,869 over the last quarter. Insiders own 0.98% of the company's stock.

Wall Street Analyst Weigh In

BCC has been the subject of several analyst reports. DA Davidson cut their price target on Boise Cascade from $115.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, July 18th. BMO Capital Markets cut their price objective on 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. Bank of America reduced 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, Truist Financial cut their price target 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 research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $112.83.

Boise Cascade 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.