Russell Investments Group Ltd. Boosts Stock Position in Boise Cascade, L.L.C. $BCC

Key Points

• Russell Investments Group Ltd. increased its stake in Boise Cascade, acquiring an additional 10,645 shares, resulting in a total ownership of 64,383 shares valued at approximately $6.3 million.
• Insider transactions revealed that EVP Troy Little sold 2,033 shares at $83.10, reducing his ownership by 13.80%, while SVP Jill Twedt sold 1,782 shares at $83.97, representing a 5.14% decrease in her position.
• Boise Cascade has declared a quarterly dividend of $0.22 per share, an increase from the previous quarter's $0.21, with the payout expected on September 17th to stockholders of record by September 2nd.

Russell Investments Group Ltd. lifted its stake in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 19.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 64,383 shares of the construction company's stock after acquiring an additional 10,645 shares during the quarter. Russell Investments Group Ltd. owned about 0.17% of Boise Cascade worth $6,315,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in Boise Cascade during the 4th quarter valued at approximately $1,601,000. Townsquare Capital LLC bought a new stake in Boise Cascade during the 4th quarter valued at approximately $217,000. BI Asset Management Fondsmaeglerselskab A S boosted its stake in Boise Cascade by 39.9% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,008 shares of the construction company's stock valued at $595,000 after purchasing an additional 1,428 shares during the period. MetLife Investment Management LLC boosted its stake in Boise Cascade by 4.3% during the 4th quarter. MetLife Investment Management LLC now owns 23,327 shares of the construction company's stock valued at $2,773,000 after purchasing an additional 965 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in Boise Cascade by 1.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 303,832 shares of the construction company's stock valued at $36,114,000 after purchasing an additional 2,998 shares during the period. Institutional investors own 96.18% of the company's stock.

Insider Activity

In related news, EVP Troy Little sold 2,033 shares of the 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 sale, the executive vice president owned 12,701 shares of the company's stock, valued at $1,055,453.10. This represents a 13.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Joanna L. Barney sold 1,000 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were 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 directly owned 12,372 shares in the company, valued at approximately $1,084,776.96. This represents a 7.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,015 shares of company stock worth $511,869 over the last three months. Corporate insiders own 1.11% of the company's stock.

Wall Street Analysts Forecast Growth

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

Boise Cascade Price Performance

Shares of BCC traded down $1.44 during mid-day trading on Monday, reaching $89.78. The company had a trading volume of 120,739 shares, compared to its average volume of 356,803. Boise Cascade, L.L.C. has a twelve month low of $80.01 and a twelve month high of $155.42. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.96 and a quick ratio of 1.54. The company's 50-day moving average is $87.00 and its 200-day moving average is $93.73. The company has a market capitalization of $3.35 billion, a P/E ratio of 13.19, a P/E/G ratio of 5.43 and a beta of 1.28.

Boise Cascade (NYSE:BCC - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The construction company reported $1.64 earnings per share for the quarter, missing analysts' consensus estimates of $1.69 by ($0.05). The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.76 billion. Boise Cascade had a net margin of 4.00% and a return on equity of 12.26%. The company's revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.84 earnings per share. On average, equities analysts anticipate that Boise Cascade, L.L.C. will post 10.15 EPS for the current year.

Boise Cascade Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from Boise Cascade's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 1.0%. Boise Cascade's payout ratio is presently 12.33%.

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.