Westwood Holdings Group Inc. Has $147.07 Million 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. increased its position in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 25.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,499,305 shares of the construction company's stock after acquiring an additional 306,684 shares during the quarter. Boise Cascade accounts for about 1.1% of Westwood Holdings Group Inc.'s holdings, making the stock its 12th largest position. Westwood Holdings Group Inc. owned approximately 3.94% of Boise Cascade worth $147,067,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. New Age Alpha Advisors LLC boosted its holdings in shares of Boise Cascade by 31.8% during the first quarter. New Age Alpha Advisors LLC now owns 5,542 shares of the construction company's stock worth $544,000 after purchasing an additional 1,337 shares during the period. PNC Financial Services Group Inc. lifted its position in Boise Cascade by 9.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,817 shares of the construction company's stock worth $276,000 after buying an additional 251 shares in the last quarter. LSV Asset Management boosted its stake in shares of Boise Cascade by 12.1% during the 1st quarter. LSV Asset Management now owns 413,852 shares of the construction company's stock valued at $40,595,000 after buying an additional 44,600 shares during the period. Jefferies Financial Group Inc. acquired a new position in shares of Boise Cascade in the first quarter worth $817,000. Finally, US Bancorp DE raised its holdings in shares of Boise Cascade by 8.6% during the first quarter. US Bancorp DE now owns 5,736 shares of the construction company's stock worth $563,000 after acquiring an additional 453 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company's stock.

Insider Transactions at Boise Cascade

In other news, SVP Jill Twedt sold 1,782 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $83.97, for a total value of $149,634.54. Following the transaction, the senior vice president directly owned 32,867 shares in the company, valued at $2,759,841.99. This trade represents a 5.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Troy Little sold 2,033 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $83.10, for a total value of $168,942.30. Following the completion of the transaction, the executive vice president owned 12,701 shares in the company, valued at $1,055,453.10. This represents a 13.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,015 shares of company stock valued at $511,869. Corporate insiders own 0.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BCC. DA Davidson lowered their target price 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. BMO Capital Markets lowered their target price on Boise Cascade from $114.00 to $108.00 and set a "market perform" rating on the stock in a research note on Thursday. Truist Financial lowered their target price on Boise Cascade from $106.00 to $101.00 and set a "buy" rating on the stock in a research note on Thursday. Loop Capital lowered their target price 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. Finally, Bank of America lowered their target price on 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 equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $112.83.

Boise Cascade Stock Up 0.3%

Shares of BCC traded up $0.27 during trading hours on Thursday, hitting $83.19. 376,352 shares of the company were exchanged, compared to its average volume of 389,212. The company has a market cap of $3.11 billion, a PE ratio of 12.22, a PEG ratio of 4.04 and a beta of 1.28. The firm's 50 day moving average is $87.41 and its 200-day moving average is $97.33. Boise Cascade, L.L.C. has a 52 week low of $80.30 and a 52 week high of $155.42. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.51 and a current ratio of 2.96.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the firm posted $2.84 EPS. Boise Cascade's revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities research analysts forecast that Boise Cascade, L.L.C. will post 10.15 EPS for the current fiscal year.

Boise Cascade Increases Dividend

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