Strs Ohio Makes New $1.07 Million Investment in Boise Cascade, L.L.C. $BCC

Key Points

• Strs Ohio has acquired a new stake in Boise Cascade, purchasing 10,900 shares worth approximately $1.069 million during the first quarter of the year.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for Boise Cascade, with several analysts adjusting their price targets between $96.00 and $110.67.
• Boise Cascade has recently increased its quarterly dividend to $0.22, reflecting a positive change from the previous dividend and representing a 1.1% yield.

Strs Ohio bought a new position in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,900 shares of the construction company's stock, valued at approximately $1,069,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Cetera Investment Advisers raised its stake in shares of Boise Cascade by 34.8% during the 4th quarter. Cetera Investment Advisers now owns 2,706 shares of the construction company's stock valued at $322,000 after buying an additional 699 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new position in Boise Cascade during the fourth quarter valued at approximately $728,000. Quantinno Capital Management LP purchased a new position in Boise Cascade during the fourth quarter valued at approximately $200,000. ProShare Advisors LLC lifted its holdings in Boise Cascade by 42.2% in the fourth quarter. ProShare Advisors LLC now owns 11,730 shares of the construction company's stock valued at $1,394,000 after acquiring an additional 3,481 shares during the period. Finally, Two Sigma Advisers LP boosted its position in Boise Cascade by 22.8% in the 4th quarter. Two Sigma Advisers LP now owns 23,200 shares of the construction company's stock worth $2,758,000 after purchasing an additional 4,300 shares in the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Trading Up 0.1%

Shares of NYSE BCC traded up $0.10 during midday trading on Monday, reaching $79.57. 581,944 shares of the stock were exchanged, compared to its average volume of 324,177. The stock has a market capitalization of $2.97 billion, a P/E ratio of 11.68, a PEG ratio of 5.41 and a beta of 1.33. 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 $85.54 and a 200 day simple moving average of $89.94. Boise Cascade, L.L.C. has a twelve month low of $78.44 and a twelve month high of $155.42.

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

Boise Cascade Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd were paid a $0.22 dividend. This is a positive change from Boise Cascade's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.1%. Boise Cascade's payout ratio is presently 12.92%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BCC. DA Davidson cut their target price on shares of Boise Cascade from $115.00 to $100.00 and set a "buy" rating for the company in a report on Friday, July 18th. BMO Capital Markets restated a "market perform" rating and issued a $100.00 price objective on shares of Boise Cascade in a research report on Tuesday, September 16th. Bank of America dropped their price target on shares of Boise Cascade from $111.00 to $107.00 and set a "buy" rating on the stock in a research note on Wednesday, July 9th. Finally, Truist Financial reduced their price target on shares of Boise Cascade from $101.00 to $96.00 and set a "buy" rating for the company in a research report on Wednesday, September 17th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $110.67.

Insider Transactions at Boise Cascade

In related news, COO Jeffrey Robert Strom sold 1,000 shares of Boise Cascade stock in a transaction that occurred 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 completion of the sale, the chief operating officer owned 37,026 shares in the company, valued at approximately $3,371,587.56. This trade represents a 2.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jill Twedt sold 1,782 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $83.97, for a total value of $149,634.54. Following the transaction, the senior vice president owned 32,867 shares in the company, valued at $2,759,841.99. This trade represents a 5.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,815 shares of company stock worth $409,637. 1.11% of the stock is currently owned by insiders.

Boise Cascade Company Profile

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.