Wellington Management Group LLP Has $257.98 Million Position in Boise Cascade, L.L.C. $BCC

Key Points

• Wellington Management Group LLP has increased its stake in Boise Cascade by 1.4%, owning approximately 2.63 million shares valued at $257.98 million, as reported in their recent SEC filings.
• Boise Cascade declared a quarterly dividend of $0.22, set to be paid on September 17, raising the annualized dividend to $0.88, which represents a yield of 1.0%.
• Despite being rated with a consensus of "Moderate Buy" by analysts, Boise Cascade's stock price targets have seen multiple downward adjustments from firms like Bank of America and DA Davidson.

Wellington Management Group LLP increased its stake in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,629,978 shares of the construction company's stock after purchasing an additional 35,639 shares during the period. Wellington Management Group LLP owned 6.99% of Boise Cascade worth $257,975,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in Boise Cascade in the fourth quarter valued at $1,601,000. Townsquare Capital LLC bought a new position in shares of Boise Cascade during the fourth quarter worth about $217,000. Barclays PLC increased its holdings in shares of Boise Cascade by 5.0% in the 4th quarter. Barclays PLC now owns 94,895 shares of the construction company's stock worth $11,280,000 after acquiring an additional 4,529 shares during the period. PEAK6 LLC bought a new stake in Boise Cascade in the 4th quarter valued at about $201,000. Finally, First Trust Advisors LP boosted its stake in Boise Cascade by 37.9% during the 4th quarter. First Trust Advisors LP now owns 712,527 shares of the construction company's stock valued at $84,691,000 after purchasing an additional 195,773 shares during the period. Institutional investors and hedge funds own 96.18% of the company's stock.

Analysts Set New Price Targets

BCC has been the topic of several analyst reports. Truist Financial dropped their price target on shares of Boise Cascade from $106.00 to $101.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. BMO Capital Markets dropped their price target on shares of 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 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. Finally, Bank of America lowered their price objective on shares of Boise Cascade from $111.00 to $107.00 and set a "buy" rating on the stock in a research note on Wednesday, July 9th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Boise Cascade presently has an average rating of "Moderate Buy" and an average target price of $112.83.

Insider Activity

In other Boise Cascade news, EVP Joanna L. Barney sold 1,000 shares of the business'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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Troy Little sold 2,033 shares of the 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 completion of the sale, 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 have sold 6,015 shares of company stock worth $511,869 over the last 90 days. 0.98% of the stock is owned by company insiders.

Boise Cascade Price Performance

Shares of NYSE:BCC traded up $6.4330 during trading hours on Friday, hitting $91.1030. 500,683 shares of the company's stock traded hands, compared to its average volume of 396,381. The company's fifty day simple moving average is $87.00 and its two-hundred day simple moving average is $93.95. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 5.43 and a beta of 1.28. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.54 and a current ratio of 2.96. Boise Cascade, L.L.C. has a 52 week low of $80.01 and a 52 week high of $155.42.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its earnings results on Monday, August 4th. The construction company reported $1.64 earnings per share for the quarter, missing analysts' consensus estimates of $1.69 by ($0.05). The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.76 billion. Boise Cascade had a return on equity of 12.26% and a net margin of 4.00%.The company's quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.84 earnings per share. As a group, equities analysts anticipate that Boise Cascade, L.L.C. will post 10.15 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.88 dividend on an annualized basis and a yield of 1.0%. This is an increase from Boise Cascade's previous quarterly dividend of $0.21. Boise Cascade's dividend payout ratio (DPR) is 12.92%.

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.