Quantbot Technologies LP Purchases 17,835 Shares of Boise Cascade, L.L.C. $BCC

Key Points

• Quantbot Technologies LP significantly increased its stake in Boise Cascade, L.L.C. by 244.3% in the first quarter, owning approximately 0.07% of the company valued at $2.47 million.
• Boise Cascade's stock recently saw a decline of 4.2%, with shares trading around $84.37, and analysts forecasting a drop in earnings compared to last year.
• The company declared a quarterly dividend of $0.22, marking an increase from the previous dividend of $0.21, which represents a yield of 1.0%.

Quantbot Technologies LP lifted its position in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 244.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,135 shares of the construction company's stock after buying an additional 17,835 shares during the quarter. Quantbot Technologies LP owned about 0.07% of Boise Cascade worth $2,465,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in BCC. Quarry LP grew its stake in shares of Boise Cascade by 502.4% in the 4th quarter. Quarry LP now owns 253 shares of the construction company's stock valued at $30,000 after buying an additional 211 shares in the last quarter. Farther Finance Advisors LLC grew its stake 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 buying an additional 369 shares in the last quarter. Blue Trust Inc. grew its stake 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 buying an additional 444 shares in the last quarter. Curat Global LLC bought a new stake in shares of Boise Cascade in the 1st quarter valued at approximately $122,000. Finally, GAMMA Investing LLC grew its stake in shares of Boise Cascade by 60.6% in the 1st quarter. GAMMA Investing LLC now owns 1,458 shares of the construction company's stock valued at $143,000 after buying an additional 550 shares in the last quarter. Institutional investors own 96.18% of the company's stock.

Boise Cascade Stock Performance

Shares of BCC stock traded down $1.5490 during trading hours on Monday, reaching $89.6710. 148,930 shares of the company's stock were exchanged, compared to its average volume of 356,982. Boise Cascade, L.L.C. has a fifty-two week low of $80.01 and a fifty-two week high of $155.42. The stock has a market capitalization of $3.35 billion, a P/E ratio of 13.16, a P/E/G ratio of 5.43 and a beta of 1.28. The business has a fifty day moving average price of $87.00 and a 200-day moving average price of $93.73. The company has a quick ratio of 1.54, a current ratio of 2.96 and a debt-to-equity ratio of 0.21.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its quarterly 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 business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the firm earned $2.84 earnings per share. The firm's quarterly revenue was down 3.2% compared to the same quarter last year. Analysts predict that Boise Cascade, L.L.C. will post 10.15 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from Boise Cascade's previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, September 2nd. Boise Cascade's dividend payout ratio is presently 12.33%.

Wall Street Analyst Weigh In

Several brokerages recently commented on BCC. BMO Capital Markets lowered their price target on Boise Cascade from $114.00 to $108.00 and set a "market perform" rating for the company in a research note on Thursday, August 7th. 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 research report on Thursday, August 7th. 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 research report on Friday, July 18th. Finally, 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 research report on Wednesday, July 9th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $112.83.

Insider Transactions at Boise Cascade

In other news, EVP Troy Little sold 2,033 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $83.10, for a total transaction of $168,942.30. Following the completion of the transaction, the executive vice president directly owned 12,701 shares in the company, valued at $1,055,453.10. The trade was a 13.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joanna L. Barney sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $87.68, for a total value of $87,680.00. Following the transaction, the executive vice president owned 12,372 shares of the company's stock, valued at approximately $1,084,776.96. This trade represents a 7.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,015 shares of company stock worth $511,869 over the last three months. 1.11% of the stock is currently owned by insiders.

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.