Victory Capital Management Inc. Sells 16,933 Shares of Boise Cascade, L.L.C. (NYSE:BCC)

Key Points

• Victory Capital Management Inc. has reduced its holdings in Boise Cascade by 22.9%, now owning approximately 0.15% of the company, valued at $5.6 million after selling 16,933 shares in the first quarter.
• Several institutional investors have increased their stakes in Boise Cascade, with notable increases of 37.9% by First Trust Advisors LP and 3.9% by Westwood Holdings Group Inc. during the fourth quarter.
• Boise Cascade's stock price recently opened at $88.03 and the company declared a quarterly dividend of $0.21 per share, yielding 0.95% annually.

Victory Capital Management Inc. lowered its stake in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 22.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,016 shares of the construction company's stock after selling 16,933 shares during the quarter. Victory Capital Management Inc. owned approximately 0.15% of Boise Cascade worth $5,593,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BCC. Raymond James Financial Inc. acquired a new position in Boise Cascade in the fourth quarter valued at approximately $1,601,000. HighTower Advisors LLC grew its position in shares of Boise Cascade by 139.1% during the 4th quarter. HighTower Advisors LLC now owns 4,507 shares of the construction company's stock valued at $536,000 after acquiring an additional 2,622 shares during the period. Corient Private Wealth LLC raised its stake in shares of Boise Cascade by 19.3% in the fourth quarter. Corient Private Wealth LLC now owns 1,915 shares of the construction company's stock valued at $236,000 after buying an additional 310 shares during the period. LPL Financial LLC lifted its stake in shares of Boise Cascade by 29.1% during the 4th quarter. LPL Financial LLC now owns 14,127 shares of the construction company's stock valued at $1,679,000 after buying an additional 3,187 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in Boise Cascade by 133.7% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,016 shares of the construction company's stock valued at $834,000 after buying an additional 4,014 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on BCC shares. Bank of America cut their price target on shares of Boise Cascade from $111.00 to $107.00 and set a "buy" rating for the company in a research note on Wednesday, July 9th. Truist Financial dropped their price target on Boise Cascade from $114.00 to $106.00 and set a "buy" rating for the company in a research note on Tuesday, July 8th. DA Davidson cut their price objective 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. Finally, Loop Capital decreased their price target on shares of Boise Cascade from $140.00 to $135.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $116.00.

Insider Transactions at Boise Cascade

In related news, SVP Jill Twedt sold 1,200 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $88.01, for a total value of $105,612.00. Following the transaction, the senior vice president directly owned 34,649 shares of the company's stock, valued at approximately $3,049,458.49. The trade was a 3.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joanna L. Barney sold 1,000 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $87.68, for a total transaction of $87,680.00. Following the transaction, the executive vice president directly owned 12,372 shares of the company's stock, valued at $1,084,776.96. The trade was a 7.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is owned by company insiders.

Boise Cascade Stock Performance

NYSE BCC traded down $1.32 during trading hours on Wednesday, hitting $84.82. 313,766 shares of the company's stock traded hands, compared to its average volume of 325,774. Boise Cascade, L.L.C. has a 52 week low of $83.09 and a 52 week high of $155.42. The firm has a market capitalization of $3.19 billion, a P/E ratio of 10.59, a P/E/G ratio of 4.20 and a beta of 1.34. The company has a current ratio of 2.82, a quick ratio of 1.51 and a debt-to-equity ratio of 0.22. The business's fifty day moving average price is $87.89 and its two-hundred day moving average price is $99.17.

Boise Cascade (NYSE:BCC - Get Free Report) last released its earnings results on Monday, May 5th. The construction company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.30). The company had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.53 billion. Boise Cascade had a net margin of 4.72% and a return on equity of 14.36%. Boise Cascade's revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.61 earnings per share. Equities research analysts predict that Boise Cascade, L.L.C. will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.99%. Boise Cascade's dividend payout ratio (DPR) is presently 10.49%.

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.