Trexquant Investment LP Has $3.16 Million Stake in Boise Cascade, L.L.C. $BCC

Key Points

• Trexquant Investment LP sold 15,797 shares of Boise Cascade, reducing its holdings by 32.9%, leaving it with approximately 0.09% ownership valued at $3.16 million.
• Boise Cascade recently reported Q2 earnings of $1.64 per share, missing estimates, and noted a 3.2% year-over-year decline in revenue.
• The company announced a dividend increase to $0.22 per share, with a yield of 1.0%, up from the previous dividend of $0.21.

Trexquant Investment LP cut its stake in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 32.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,197 shares of the construction company's stock after selling 15,797 shares during the period. Trexquant Investment LP owned 0.09% of Boise Cascade worth $3,158,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of BCC. Northwestern Mutual Wealth Management Co. raised its stake in shares of Boise Cascade by 120.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 406 shares of the construction company's stock worth $40,000 after acquiring an additional 222 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Boise Cascade by 338.5% in the first quarter. Farther Finance Advisors LLC now owns 478 shares of the construction company's stock valued at $47,000 after buying an additional 369 shares during the period. Blue Trust Inc. lifted its holdings in Boise Cascade by 93.7% in the first quarter. Blue Trust Inc. now owns 918 shares of the construction company's stock valued at $90,000 after buying an additional 444 shares during the period. Curat Global LLC acquired a new position in Boise Cascade in the first quarter valued at approximately $122,000. Finally, GAMMA Investing LLC lifted its holdings in Boise Cascade by 60.6% in the first quarter. GAMMA Investing LLC now owns 1,458 shares of the construction company's stock valued at $143,000 after buying an additional 550 shares during the period. 96.18% of the stock is owned by institutional investors.

Insider Transactions at Boise Cascade

In related news, SVP Jill Twedt sold 1,782 shares of the stock in a transaction on Wednesday, August 6th. The shares were 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. This represents a 5.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Troy Little sold 2,033 shares of the stock in a transaction 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 transaction, the executive vice president owned 12,701 shares of the company's stock, valued at $1,055,453.10. The trade was a 13.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,815 shares of company stock valued at $409,637 over the last quarter. Corporate insiders own 1.11% of the company's stock.

Analysts Set New Price Targets

BCC has been the topic of several analyst reports. BMO Capital Markets cut their price objective on shares of Boise Cascade from $114.00 to $108.00 and set a "market perform" rating on the stock in a report on Thursday, August 7th. Bank of America cut their price objective on shares of Boise Cascade from $111.00 to $107.00 and set a "buy" rating on the stock in a report on Wednesday, July 9th. Truist Financial cut their price objective on shares of Boise Cascade from $106.00 to $101.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Finally, DA Davidson lowered their target price on shares of Boise Cascade from $115.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $112.83.

Boise Cascade Stock Down 1.6%

Shares of BCC stock traded down $1.47 during trading hours on Monday, hitting $88.55. 47,404 shares of the company were exchanged, compared to its average volume of 352,180. The business has a 50 day moving average of $87.19 and a two-hundred day moving average of $91.39. The company has a current ratio of 2.96, a quick ratio of 1.54 and a debt-to-equity ratio of 0.21. Boise Cascade, L.L.C. has a 52 week low of $80.01 and a 52 week high of $155.42. The company has a market capitalization of $3.31 billion, a PE ratio of 13.02, a PEG ratio of 5.36 and a beta of 1.33.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the prior year, the company earned $2.84 EPS. The firm's revenue was down 3.2% on a year-over-year basis. Analysts anticipate that Boise Cascade, L.L.C. will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.22 per share. This is a positive change from Boise Cascade's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. Boise Cascade's payout ratio is currently 12.92%.

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.