SG Americas Securities LLC Cuts Stock Position in Boise Cascade, L.L.C. $BCC

SG Americas Securities LLC lessened its holdings in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 50.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,290 shares of the construction company’s stock after selling 17,687 shares during the quarter. SG Americas Securities LLC’s holdings in Boise Cascade were worth $1,311,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Boise Cascade in the fourth quarter valued at approximately $42,146,000. Wellington Management Group LLP lifted its holdings in Boise Cascade by 19.8% during the 3rd quarter. Wellington Management Group LLP now owns 3,268,407 shares of the construction company’s stock worth $252,713,000 after buying an additional 539,962 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Boise Cascade by 214,282.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 420,189 shares of the construction company’s stock worth $30,926,000 after buying an additional 419,993 shares in the last quarter. Concentric Capital Strategies LP boosted its position in Boise Cascade by 202.0% in the 4th quarter. Concentric Capital Strategies LP now owns 425,179 shares of the construction company’s stock valued at $31,293,000 after buying an additional 284,406 shares during the period. Finally, Two Sigma Investments LP boosted its position in Boise Cascade by 377.6% in the 3rd quarter. Two Sigma Investments LP now owns 292,556 shares of the construction company’s stock valued at $22,620,000 after buying an additional 231,302 shares during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. DA Davidson dropped their price target on shares of Boise Cascade from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Weiss Ratings upgraded Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Truist Financial set a $97.00 target price on Boise Cascade in a research note on Wednesday, May 6th. Finally, Zacks Research upgraded Boise Cascade from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $98.00.

Boise Cascade Stock Up 0.0%

Shares of NYSE:BCC opened at $75.96 on Friday. Boise Cascade, L.L.C. has a fifty-two week low of $65.00 and a fifty-two week high of $95.00. The firm’s 50 day moving average price is $72.49 and its 200 day moving average price is $76.88. The company has a quick ratio of 1.37, a current ratio of 2.77 and a debt-to-equity ratio of 0.24. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 25.66, a price-to-earnings-growth ratio of 1.13 and a beta of 1.08.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings results on Monday, May 4th. The construction company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.43 by $0.07. Boise Cascade had a net margin of 1.73% and a return on equity of 5.55%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the business posted $1.06 EPS. The firm’s revenue was down 2.5% on a year-over-year basis. As a group, equities research analysts predict that Boise Cascade, L.L.C. will post 3.67 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Monday, June 1st were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, June 1st. Boise Cascade’s payout ratio is 29.73%.

Insider Activity at Boise Cascade

In related news, SVP Jill Twedt sold 6,070 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $66.45, for a total transaction of $403,351.50. Following the completion of the transaction, the senior vice president owned 26,545 shares in the company, valued at approximately $1,763,915.25. The trade was a 18.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.42% of the company’s stock.

Boise Cascade Profile

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company’s operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.