Royce & Associates LP Cuts Stock Position in Boise Cascade, L.L.C. (NYSE:BCC)

Royce & Associates LP reduced its stake in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 56.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,628 shares of the construction company's stock after selling 4,725 shares during the period. Royce & Associates LP's holdings in Boise Cascade were worth $356,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Blue Trust Inc. grew its position in 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 acquiring an additional 444 shares in the last quarter. GAMMA Investing LLC grew its position in 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 acquiring an additional 550 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Boise Cascade by 50.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 23,699 shares of the construction company's stock valued at $2,325,000 after acquiring an additional 7,983 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new position in Boise Cascade in the 4th quarter valued at about $728,000. Finally, Caxton Associates LP acquired a new position in Boise Cascade in the 4th quarter valued at about $522,000. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Boise Cascade Stock Down 0.8%

BCC stock traded down $0.64 during trading on Friday, hitting $83.17. 365,379 shares of the company's stock were exchanged, compared to its average volume of 350,240. The business has a 50-day moving average price of $87.77 and a two-hundred day moving average price of $98.82. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 4.14 and a beta of 1.34. Boise Cascade, L.L.C. has a 52-week low of $81.89 and a 52-week high of $155.42. The company has a current ratio of 2.82, a quick ratio of 1.51 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its earnings results on Monday, May 5th. The construction company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.30). The business had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.53 billion. Boise Cascade had a return on equity of 14.36% and a net margin of 4.72%. Boise Cascade's revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.61 EPS. As a group, equities research analysts expect that Boise Cascade, L.L.C. will post 10.15 EPS for the current year.

Boise Cascade Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd will be paid a $0.22 dividend. 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 yield of 1.1%. The ex-dividend date is Tuesday, September 2nd. Boise Cascade's dividend payout ratio (DPR) is presently 10.49%.

Insider Buying and Selling

In other Boise Cascade news, EVP Joanna L. Barney sold 1,000 shares of the business'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 completion of the sale, the executive vice president owned 12,372 shares in the company, valued at approximately $1,084,776.96. The trade was a 7.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jill Twedt sold 1,200 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $88.01, for a total value of $105,612.00. Following the completion of the sale, the senior vice president owned 34,649 shares of the company's stock, valued at approximately $3,049,458.49. This represents a 3.35% decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on BCC shares. Bank of America lowered their price objective 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. DA Davidson lowered their price objective 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. Truist Financial lowered their price objective on Boise Cascade from $114.00 to $106.00 and set a "buy" rating for the company in a research report on Tuesday, July 8th. Finally, Loop Capital lowered their price objective on Boise Cascade from $140.00 to $135.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Boise Cascade presently has a consensus rating of "Moderate Buy" and a consensus target price of $116.00.

About Boise Cascade

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.