Vanguard Group Inc. Buys 70,231 Shares of Boise Cascade, L.L.C. $BCC

Key Points

• Vanguard Group Inc. increased its stake in Boise Cascade, acquiring an additional 70,231 shares, bringing its total ownership to approximately 11.63% with a value of $433.8 million.
• Boise Cascade reported Q2 earnings of $1.64 per share, missing estimates by $0.05, and revenue of $1.74 billion, down 3.2% from the previous year.
• The company recently announced a quarterly dividend of $0.22 per share, an increase from the previous dividend of $0.21, indicating a commitment to returning value to shareholders.

Vanguard Group Inc. increased its stake in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 1.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 4,422,544 shares of the construction company's stock after purchasing an additional 70,231 shares during the period. Vanguard Group Inc. owned 11.63% of Boise Cascade worth $433,807,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Quarry LP raised its holdings in shares of Boise Cascade by 502.4% during the 4th quarter. Quarry LP now owns 253 shares of the construction company's stock valued at $30,000 after buying an additional 211 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Boise Cascade by 338.5% during the 1st 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 in the last quarter. Blue Trust Inc. raised its holdings in shares of Boise Cascade by 93.7% during the 1st quarter. Blue Trust Inc. now owns 918 shares of the construction company's stock valued at $90,000 after buying an additional 444 shares in the last quarter. Curat Global LLC purchased a new position in shares of Boise Cascade during the 1st quarter valued at about $122,000. Finally, GAMMA Investing LLC raised its holdings in shares of Boise Cascade by 60.6% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 96.18% of the company's stock.

Wall Street Analysts Forecast Growth

BCC has been the topic of several recent research reports. 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. 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. Bank of America cut their price objective on Boise Cascade from $111.00 to $107.00 and set a "buy" rating on the stock in a research report on Wednesday, July 9th. Finally, Truist Financial cut their price objective on Boise Cascade from $106.00 to $101.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $112.83.

Boise Cascade Stock Up 3.7%

NYSE:BCC traded up $3.1190 during trading hours on Tuesday, reaching $87.7590. 186,171 shares of the company traded hands, compared to its average volume of 356,396. The business's 50-day moving average price is $87.08 and its two-hundred day moving average price is $94.79. The stock has a market capitalization of $3.28 billion, a P/E ratio of 12.88, a P/E/G ratio of 5.12 and a beta of 1.28. Boise Cascade, L.L.C. has a 1 year low of $80.01 and a 1 year high of $155.42. 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 (NYSE:BCC - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The construction company reported $1.64 earnings per share 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 during the quarter, compared to analysts' expectations of $1.76 billion. During the same quarter in the prior year, the firm earned $2.84 EPS. The firm's revenue for the quarter was down 3.2% compared to the same quarter last year. Analysts predict that Boise Cascade, L.L.C. will post 10.15 earnings per share for the current year.

Boise Cascade Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.0%. This is a boost from Boise Cascade's previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, September 2nd. Boise Cascade's dividend payout ratio (DPR) is currently 12.33%.

Insider Activity at Boise Cascade

In related news, 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 transaction of $149,634.54. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Troy Little sold 2,033 shares of the company's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $83.10, for a total value of $168,942.30. Following the sale, the executive vice president owned 12,701 shares of the company's stock, valued at approximately $1,055,453.10. This trade represents a 13.80% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,015 shares of company stock worth $511,869. 1.11% of the stock is 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.