UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Stock Position in Boise Cascade, L.L.C. $BCC

Key Points

• UBS Asset Management cut its Boise Cascade position by 27.8% in the second quarter, selling 29,652 shares and retaining 77,195 shares valued at approximately $5.99 million. Institutional investors collectively own 96.18% of the company.
• Analyst sentiment remains mixed, with three Buy, three Hold, and one Sell rating; the average rating is Hold with a $93.60 price target. Recent targets from Goldman Sachs and DA Davidson were raised to $91 and $99, respectively.
• Boise Cascade reported quarterly EPS of $1.63, beating estimates by $0.40, while revenue rose 5.2% year over year to $1.83 billion. The company also increased its quarterly dividend to $0.23 per share, or $0.92 annually.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 27.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 77,195 shares of the construction company's stock after selling 29,652 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.22% of Boise Cascade worth $5,993,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its position in Boise Cascade by 231.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company's stock worth $29,000 after purchasing an additional 259 shares in the last quarter. Advisory Services Network LLC acquired a new position in Boise Cascade during the third quarter valued at approximately $38,000. UMB Bank n.a. grew its stake in Boise Cascade by 98.5% during the fourth quarter. UMB Bank n.a. now owns 524 shares of the construction company's stock worth $39,000 after buying an additional 260 shares during the period. iSAM Funds UK Ltd acquired a new stake in shares of Boise Cascade in the third quarter worth $44,000. Finally, CIBC Private Wealth Group LLC increased its position in shares of Boise Cascade by 662.4% in the third quarter. CIBC Private Wealth Group LLC now owns 648 shares of the construction company's stock worth $50,000 after acquiring an additional 563 shares in the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Zacks Research lowered shares of Boise Cascade from a "strong-buy" rating to a "hold" rating in a report on Monday, August 17th. Wall Street Zen raised Boise Cascade from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. The Goldman Sachs Group boosted their price objective on Boise Cascade from $81.00 to $91.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. Weiss Ratings raised Boise Cascade from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, August 17th. Finally, DA Davidson increased their target price on Boise Cascade from $92.00 to $99.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $93.60.

Insider Activity

In related news, SVP Jill Twedt sold 1,250 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $79.40, for a total value of $99,250.00. Following the completion of the transaction, the senior vice president owned 25,295 shares of the company's stock, valued at approximately $2,008,423. This represents a 4.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kristopher Matula sold 1,930 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total value of $163,239.40. Following the transaction, the director owned 13,982 shares of the company's stock, valued at approximately $1,182,597.56. This trade represents a 12.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.42% of the company's stock.

Boise Cascade Price Performance

Shares of BCC stock opened at $76.82 on Wednesday. The company has a market capitalization of $2.68 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 1.07 and a beta of 1.08. The firm has a fifty day simple moving average of $78.94 and a 200-day simple moving average of $76.15. The company has a current ratio of 2.71, a quick ratio of 1.31 and a debt-to-equity ratio of 0.24. Boise Cascade, L.L.C. has a twelve month low of $65.00 and a twelve month high of $91.97.

Boise Cascade (NYSE:BCC - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The construction company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.40. Boise Cascade had a net margin of 1.64% and a return on equity of 5.41%. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the firm posted $1.64 EPS. The firm's quarterly revenue was up 5.2% on a year-over-year basis. Equities research analysts anticipate that Boise Cascade, L.L.C. will post 3.86 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from Boise Cascade's previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.2%. Boise Cascade's dividend payout ratio is presently 31.19%.

Boise Cascade Profile

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company's operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.

Want to see what other hedge funds are holding BCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boise Cascade, L.L.C. (NYSE:BCC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.