Russell Investments Group Ltd. Increases Holdings 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. grew its position in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 19.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,383 shares of the construction company's stock after purchasing an additional 10,645 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.17% of Boise Cascade worth $6,315,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of BCC. Raymond James Financial Inc. bought a new position in Boise Cascade during the 4th quarter worth approximately $1,601,000. Townsquare Capital LLC bought a new position in Boise Cascade during the 4th quarter worth approximately $217,000. BI Asset Management Fondsmaeglerselskab A S grew its position 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 worth $595,000 after acquiring an additional 1,428 shares during the last quarter. MetLife Investment Management LLC grew its position 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 worth $2,773,000 after acquiring an additional 965 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position 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 worth $36,114,000 after acquiring an additional 2,998 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BCC has been the topic of several recent research reports. DA Davidson reduced their price target 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. BMO Capital Markets reduced their price target 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. Truist Financial dropped their price objective on Boise Cascade from $106.00 to $101.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Finally, Bank of America dropped their price objective on Boise Cascade from $111.00 to $107.00 and set a "buy" rating for the company in a report on Wednesday, July 9th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $112.83.

Insider Transactions at Boise Cascade

In other Boise Cascade news, SVP Jill Twedt sold 1,782 shares of Boise Cascade stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $83.97, for a total transaction of $149,634.54. Following the completion of the transaction, the senior vice president owned 32,867 shares in the company, valued at approximately $2,759,841.99. The trade was a 5.14% 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, COO Jeffrey Robert Strom sold 1,000 shares of Boise Cascade stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $91.06, for a total value of $91,060.00. Following the transaction, the chief operating officer owned 37,026 shares of the company's stock, valued at $3,371,587.56. The trade was a 2.63% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,015 shares of company stock worth $602,929. 1.11% of the stock is owned by company insiders.

Boise Cascade Stock Down 1.1%

Shares of BCC traded down $0.95 on Tuesday, reaching $89.03. The stock had a trading volume of 360,425 shares, compared to its average volume of 402,867. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 5.35 and a beta of 1.28. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.54 and a current ratio of 2.96. The company has a 50-day simple moving average of $87.18 and a 200-day simple moving average of $93.46. Boise Cascade, L.L.C. has a 12-month low of $80.01 and a 12-month high of $155.42.

Boise Cascade (NYSE:BCC - Get Free Report) last released 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). The firm had revenue of $1.74 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.84 EPS. Sell-side analysts predict that Boise Cascade, L.L.C. will post 10.15 EPS for the current year.

Boise Cascade Increases Dividend

The company also recently announced 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. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 2nd. This is a boost from Boise Cascade's previous quarterly dividend of $0.21. Boise Cascade's dividend payout ratio (DPR) is 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.