Rathbones Group PLC Trims Stock Position in Boise Cascade, L.L.C. $BCC

Key Points

• Rathbones Group PLC sharply reduced its Boise Cascade stake in the fourth quarter, cutting holdings by 69.8% to 10,941 shares valued at about $805,000.
• Boise Cascade reported better-than-expected quarterly earnings, with EPS of $0.50 versus estimates of $0.43 and revenue of $1.50 billion, though sales were still down 2.5% year over year.
• The company declared a quarterly dividend of $0.22 per share and received mostly positive analyst attention, with a consensus rating of Moderate Buy and a target price of $98.00.

Rathbones Group PLC cut its stake in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 69.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,941 shares of the construction company's stock after selling 25,338 shares during the period. Rathbones Group PLC's holdings in Boise Cascade were worth $805,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cerity Partners LLC lifted its position in Boise Cascade by 3.8% in the second quarter. Cerity Partners LLC now owns 3,274 shares of the construction company's stock valued at $284,000 after acquiring an additional 121 shares during the last quarter. Raymond James Financial Inc. lifted its position in Boise Cascade by 1.0% in the second quarter. Raymond James Financial Inc. now owns 13,219 shares of the construction company's stock valued at $1,148,000 after acquiring an additional 126 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Boise Cascade by 6.2% in the third quarter. PNC Financial Services Group Inc. now owns 2,726 shares of the construction company's stock valued at $211,000 after acquiring an additional 158 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in Boise Cascade by 1.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 9,013 shares of the construction company's stock valued at $663,000 after acquiring an additional 163 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its position in Boise Cascade by 0.8% in the fourth quarter. State of Alaska Department of Revenue now owns 21,171 shares of the construction company's stock valued at $1,558,000 after acquiring an additional 164 shares during the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Jill Twedt sold 6,070 shares of the business's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $66.45, for a total transaction of $403,351.50. Following the transaction, the senior vice president directly owned 26,545 shares in the company, valued at $1,763,915.25. The trade was a 18.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.42% of the stock is currently owned by company insiders.

Boise Cascade Trading Up 0.0%

NYSE BCC opened at $67.13 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.37 and a current ratio of 2.77. The firm has a market cap of $2.36 billion, a PE ratio of 22.68, a P/E/G ratio of 1.00 and a beta of 1.15. Boise Cascade, L.L.C. has a one year low of $65.00 and a one year high of $95.00. The firm's fifty day moving average is $74.66 and its two-hundred day moving average is $76.84.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The construction company reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.07. Boise Cascade had a net margin of 1.73% and a return on equity of 5.55%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the business posted $1.06 earnings per share. The business's revenue was down 2.5% compared to the same quarter last year. Analysts expect that Boise Cascade, L.L.C. will post 3.67 earnings per share for the current year.

Boise Cascade Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Monday, June 1st will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Monday, June 1st. Boise Cascade's payout ratio is 29.73%.

Analysts Set New Price Targets

A number of research analysts have commented on BCC shares. Wall Street Zen upgraded shares of Boise Cascade from a "sell" rating to a "hold" rating in a research note on Saturday, February 28th. The Goldman Sachs Group lifted their price objective on shares of Boise Cascade from $85.00 to $94.00 and gave the company a "neutral" rating in a research note on Wednesday, February 25th. Zacks Research upgraded shares of Boise Cascade from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of Boise Cascade from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, May 18th. Finally, DA Davidson dropped their price objective on shares of Boise Cascade from $95.00 to $92.00 and set a "buy" rating on the stock in a research note on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $98.00.

Boise Cascade Profile

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company's operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.

Want to see what other hedge funds are holding BCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boise Cascade, L.L.C. (NYSE:BCC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.