Rathbones Group PLC Cuts Holdings in Boise Cascade, L.L.C. (NYSE:BCC)

Key Points

• Rathbones Group PLC reduced its stake in Boise Cascade, L.L.C. by 16.6%, now holding 77,526 shares valued at approximately $7.6 million.
• Boise Cascade reported earnings per share of $1.64 in its latest quarterly results, missing estimates and showing a 3.2% year-over-year revenue decline.
• The company announced an increase in its quarterly dividend from $0.21 to $0.22, representing an annualized yield of 1.0%.

Rathbones Group PLC reduced its holdings in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 16.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 77,526 shares of the construction company's stock after selling 15,411 shares during the period. Rathbones Group PLC owned about 0.21% of Boise Cascade worth $7,605,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Quarry LP boosted its stake in shares of Boise Cascade by 502.4% in the fourth quarter. Quarry LP now owns 253 shares of the construction company's stock worth $30,000 after acquiring an additional 211 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Boise Cascade by 338.5% in the first quarter. Farther Finance Advisors LLC now owns 478 shares of the construction company's stock worth $47,000 after acquiring an additional 369 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Boise Cascade by 93.7% in the first quarter. Blue Trust Inc. now owns 918 shares of the construction company's stock worth $90,000 after acquiring an additional 444 shares during the last quarter. Curat Global LLC acquired a new stake in shares of Boise Cascade in the first quarter worth approximately $122,000. Finally, GAMMA Investing LLC boosted its stake in shares of Boise Cascade by 60.6% in the first quarter. GAMMA Investing LLC now owns 1,458 shares of the construction company's stock worth $143,000 after acquiring an additional 550 shares during the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Troy Little sold 2,033 shares of Boise Cascade stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $83.10, for a total value of $168,942.30. Following the completion of the sale, the executive vice president directly owned 12,701 shares of the company's stock, valued at approximately $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 SEC, which can be accessed through this hyperlink. Also, SVP Jill Twedt sold 1,782 shares of Boise Cascade stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $83.97, for a total value of $149,634.54. Following the completion of the sale, the senior vice president directly 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. Over the last ninety days, insiders sold 6,015 shares of company stock valued at $511,869. 0.98% of the stock is currently owned by corporate insiders.

Boise Cascade Trading Down 0.4%

NYSE:BCC traded down $0.38 on Friday, reaching $86.24. The company's 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 quick ratio of 1.54, a current ratio of 2.96 and a debt-to-equity ratio of 0.21. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 5.15 and a beta of 1.28. The stock has a 50 day moving average price of $87.16 and a 200 day moving average price of $95.53.

Boise Cascade (NYSE:BCC - Get Free Report) last posted 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 net margin of 4.00% and a return on equity of 12.26%. The business had revenue of $1.74 billion during the quarter, compared to analysts' expectations of $1.76 billion. During the same quarter in the prior 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. On average, equities analysts anticipate that Boise Cascade, L.L.C. will post 10.15 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a boost 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 payout ratio is presently 12.33%.

Analysts Set New Price Targets

BCC has been the topic of a number of analyst reports. Truist Financial reduced their price objective on Boise Cascade from $106.00 to $101.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. DA Davidson reduced their price objective on Boise Cascade from $115.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Bank of America reduced their price objective on Boise Cascade from $111.00 to $107.00 and set a "buy" rating on the stock in a research report on Wednesday, July 9th. Finally, BMO Capital Markets reduced their price objective on Boise Cascade from $114.00 to $108.00 and set a "market perform" rating on the stock in a research report on Thursday, August 7th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Boise Cascade has an average rating of "Moderate Buy" and an average price target of $112.83.

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.