UBS Group AG Lowers Holdings in Boise Cascade, L.L.C. $BCC

Key Points

• UBS Group AG cut its Boise Cascade stake by 36% in the fourth quarter, leaving it with 93,803 shares worth about $6.9 million, according to its latest SEC filing.
• Boise Cascade beat earnings expectations in its latest quarter, reporting $0.50 EPS on $1.50 billion in revenue versus estimates of $0.43 EPS and $1.46 billion in revenue.
• Analysts remain cautiously positive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $98, even as the shares traded down about 3% to $65.60.

UBS Group AG trimmed its position in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 36.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,803 shares of the construction company's stock after selling 52,831 shares during the period. UBS Group AG owned approximately 0.25% of Boise Cascade worth $6,904,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in shares of Boise Cascade by 19.8% during the 3rd quarter. Wellington Management Group LLP now owns 3,268,407 shares of the construction company's stock worth $252,713,000 after purchasing an additional 539,962 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Boise Cascade by 2.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,280,347 shares of the construction company's stock worth $176,313,000 after purchasing an additional 58,131 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Boise Cascade by 76.5% during the 2nd quarter. Bank of America Corp DE now owns 417,642 shares of the construction company's stock worth $36,260,000 after purchasing an additional 181,025 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Boise Cascade by 7.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 347,301 shares of the construction company's stock worth $26,853,000 after purchasing an additional 25,452 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of Boise Cascade by 128.8% during the 3rd quarter. Barclays PLC now owns 298,197 shares of the construction company's stock worth $23,057,000 after purchasing an additional 167,880 shares in the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Boise Cascade

In other news, SVP Jill Twedt sold 6,070 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $66.45, for a total transaction of $403,351.50. Following the completion of the transaction, the senior vice president directly owned 26,545 shares in the company, valued at approximately $1,763,915.25. This represents a 18.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.42% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BCC shares. DA Davidson decreased their price objective on shares of Boise Cascade from $95.00 to $92.00 and set a "buy" rating on the stock in a research report on Wednesday, May 6th. Truist Financial set a $97.00 price objective on shares of Boise Cascade in a research report on Wednesday, May 6th. Wall Street Zen upgraded shares of Boise Cascade from a "sell" rating to a "hold" rating in a research report on Saturday, February 28th. Weiss Ratings upgraded shares of Boise Cascade from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday. Finally, The Goldman Sachs Group boosted their price objective on shares of Boise Cascade from $85.00 to $94.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 25th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Boise Cascade currently has an average rating of "Moderate Buy" and a consensus target price of $98.00.

Boise Cascade Trading Down 3.0%

NYSE BCC opened at $65.60 on Wednesday. Boise Cascade, L.L.C. has a 12 month low of $65.14 and a 12 month high of $95.00. The company has a 50-day moving average of $75.01 and a 200-day moving average of $76.95. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.77 and a quick ratio of 1.37. The company has a market cap of $2.31 billion, a P/E ratio of 22.16, a P/E/G ratio of 1.01 and a beta of 1.15.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The construction company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.07. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.46 billion. Boise Cascade had a net margin of 1.73% and a return on equity of 5.55%. The company's quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.06 EPS. As a group, equities analysts predict that Boise Cascade, L.L.C. will post 3.67 earnings per share for the current year.

Boise Cascade Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Monday, June 1st will be given a $0.22 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.88 annualized dividend and a yield of 1.3%. Boise Cascade's dividend payout ratio (DPR) is 29.73%.

About Boise Cascade

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.

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