Rockefeller Capital Management L.P. Sells 99,771 Shares of Boise Cascade, L.L.C. $BCC

Key Points

• Rockefeller Capital Management slashed its Boise Cascade stake by 99.2% in the fourth quarter, selling 99,771 shares and retaining just 792 shares worth about $58,000.
• Despite the move, institutional ownership remains very high, with 96.18% of Boise Cascade stock held by institutions. Several other funds, including Royal Bank of Canada and UBS AM, increased their positions.
• Wall Street sentiment is mixed but constructive: Boise Cascade has a “Moderate Buy” consensus rating with a $95.75 price target, while the company recently beat quarterly EPS and revenue estimates and pays a quarterly dividend yielding about 1.2%.

Rockefeller Capital Management L.P. trimmed its position in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 99.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 792 shares of the construction company's stock after selling 99,771 shares during the period. Rockefeller Capital Management L.P.'s holdings in Boise Cascade were worth $58,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Royal Bank of Canada lifted its stake in shares of Boise Cascade by 4.0% in the 1st quarter. Royal Bank of Canada now owns 34,704 shares of the construction company's stock worth $3,404,000 after purchasing an additional 1,332 shares during the period. AQR Capital Management LLC grew its position in Boise Cascade by 8.8% during the first quarter. AQR Capital Management LLC now owns 36,639 shares of the construction company's stock valued at $3,594,000 after buying an additional 2,966 shares during the period. Jones Financial Companies Lllp increased its holdings in Boise Cascade by 1,638.4% during the first quarter. Jones Financial Companies Lllp now owns 4,120 shares of the construction company's stock valued at $404,000 after buying an additional 3,883 shares during the last quarter. United Services Automobile Association purchased a new stake in Boise Cascade during the first quarter valued at approximately $258,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Boise Cascade by 2.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 203,631 shares of the construction company's stock worth $19,974,000 after acquiring an additional 3,978 shares during the period. 96.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Zacks Research raised shares of Boise Cascade from a "strong sell" rating to a "hold" rating in a research report on Wednesday, May 6th. DA Davidson lowered their target price on Boise Cascade from $95.00 to $92.00 and set a "buy" rating on the stock in a research report on Wednesday, May 6th. Weiss Ratings raised Boise Cascade from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, May 18th. Finally, Truist Financial set a $97.00 price target on Boise Cascade in a report on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Boise Cascade currently has an average rating of "Moderate Buy" and a consensus price target of $95.75.

Boise Cascade Stock Down 0.3%

BCC opened at $75.80 on Monday. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 25.61, a price-to-earnings-growth ratio of 1.14 and a beta of 1.08. 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's fifty day moving average is $71.59 and its 200 day moving average is $76.82. Boise Cascade, L.L.C. has a fifty-two week low of $65.00 and a fifty-two week high of $93.06.

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 return on equity of 5.55% and a net margin of 1.73%.The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the business posted $1.06 EPS. Boise Cascade's revenue for the quarter was down 2.5% compared to the same quarter last year. On average, sell-side analysts forecast that Boise Cascade, L.L.C. will post 3.67 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Monday, June 1st were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, June 1st. Boise Cascade's dividend payout ratio (DPR) is 29.73%.

Insider Transactions at Boise Cascade

In related news, SVP Jill Twedt sold 6,070 shares of Boise Cascade stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $66.45, for a total transaction of $403,351.50. Following the sale, the senior vice president owned 26,545 shares of the company's stock, valued at approximately $1,763,915.25. This trade represents a 18.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.42% of the company's stock.

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.

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