Westwood Holdings Group Inc. Increases Stake in Boise Cascade, L.L.C. (NYSE:BCC)

Key Points

• Westwood Holdings Group Inc. increased its holdings in Boise Cascade by 25.7%, acquiring an additional 306,684 shares during the first quarter, bringing its total ownership to approximately $147 million.
• Several hedge funds have significantly boosted their stakes in Boise Cascade, with Blue Trust Inc. increasing its position by 93.7% during the same period.
• Boise Cascade recently announced a quarterly dividend increase to $0.22 per share, reflecting a 1.1% yield, up from the previous dividend of $0.21.

Westwood Holdings Group Inc. grew its holdings in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 25.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,499,305 shares of the construction company's stock after purchasing an additional 306,684 shares during the period. Boise Cascade comprises approximately 1.1% of Westwood Holdings Group Inc.'s holdings, making the stock its 12th largest holding. Westwood Holdings Group Inc. owned approximately 3.94% of Boise Cascade worth $147,067,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BCC. First Trust Advisors LP increased its stake in Boise Cascade by 37.9% in the fourth quarter. First Trust Advisors LP now owns 712,527 shares of the construction company's stock worth $84,691,000 after purchasing an additional 195,773 shares during the period. GAMMA Investing LLC increased its stake in shares of Boise Cascade by 15,650.6% during the first quarter. GAMMA Investing LLC now owns 143,015 shares of the construction company's stock valued at $14,028,000 after buying an additional 142,107 shares during the period. Tidal Investments LLC increased its stake in shares of Boise Cascade by 534.5% during the fourth quarter. Tidal Investments LLC now owns 100,295 shares of the construction company's stock valued at $11,921,000 after buying an additional 84,487 shares during the period. Rockefeller Capital Management L.P. increased its stake in shares of Boise Cascade by 322.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 109,770 shares of the construction company's stock valued at $13,048,000 after buying an additional 83,776 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Boise Cascade during the fourth quarter valued at $9,894,000. Hedge funds and other institutional investors own 96.18% of the company's stock.

Boise Cascade Stock Down 1.2%

NYSE BCC traded down $1.03 during trading on Friday, hitting $82.16. The company's stock had a trading volume of 337,768 shares, compared to its average volume of 384,619. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.96 and a quick ratio of 1.51. The company has a market cap of $3.07 billion, a PE ratio of 12.06, a P/E/G ratio of 4.59 and a beta of 1.28. The business's 50 day simple moving average is $87.31 and its 200-day simple moving average is $97.00. Boise Cascade, L.L.C. has a fifty-two week low of $80.30 and a fifty-two week high of $155.42.

Boise Cascade (NYSE:BCC - Get Free Report) last issued 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). The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.76 billion. Boise Cascade had a return on equity of 12.26% and a net margin of 4.00%. Boise Cascade's revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.84 EPS. On average, equities analysts anticipate that Boise Cascade, L.L.C. will post 10.15 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.1%. This is a positive change from Boise Cascade's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, September 2nd. Boise Cascade's dividend payout ratio is presently 12.33%.

Insider Buying and Selling

In related news, EVP Troy Little sold 2,033 shares of Boise Cascade stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $83.10, for a total transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jill Twedt sold 1,782 shares of Boise Cascade stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $83.97, for a total value of $149,634.54. Following the sale, the senior vice president directly owned 32,867 shares of the company's stock, valued at $2,759,841.99. This trade represents a 5.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,015 shares of company stock valued at $511,869 over the last quarter. 0.98% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BCC has been the topic of several research reports. BMO Capital Markets cut their price target on Boise Cascade from $114.00 to $108.00 and set a "market perform" rating on the stock in a research note on Thursday. DA Davidson cut their price target on Boise Cascade from $115.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Loop Capital cut their price target on Boise Cascade from $140.00 to $135.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Bank of America dropped 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 dropped 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. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Boise Cascade currently has an average rating of "Moderate Buy" and an average target price of $112.83.

Boise Cascade 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.