Quantbot Technologies LP Acquires Shares of 23,580 Boise Cascade, L.L.C. $BCC

Quantbot Technologies LP purchased a new position in Boise Cascade, L.L.C. (NYSE:BCC) in the second quarter, Holdings Channel reports. The fund purchased 23,580 shares of the construction company’s stock, valued at approximately $1,831,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd raised its position in shares of Boise Cascade by 231.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock worth $29,000 after purchasing an additional 259 shares during the last quarter. Fifth Third Bancorp boosted its stake in Boise Cascade by 77.5% during the fourth quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock worth $30,000 after buying an additional 179 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of Boise Cascade during the 3rd quarter valued at about $38,000. UMB Bank n.a. grew its stake in shares of Boise Cascade by 98.5% in the 4th quarter. UMB Bank n.a. now owns 524 shares of the construction company’s stock valued at $39,000 after buying an additional 260 shares during the period. Finally, iSAM Funds UK Ltd purchased a new position in Boise Cascade in the third quarter worth approximately $44,000. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Kristopher J. Matula sold 1,930 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total transaction of $163,239.40. Following the transaction, the director owned 13,982 shares of the company’s stock, valued at $1,182,597.56. This trade represents a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.42% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

BCC has been the subject of a number of recent analyst reports. Zacks Research cut shares of Boise Cascade from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Wall Street Zen upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. The Goldman Sachs Group increased their price target on Boise Cascade from $81.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. DA Davidson lifted their price objective on shares of Boise Cascade from $92.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, August 17th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $93.60.

Boise Cascade Stock Down 0.3%

BCC stock opened at $82.20 on Tuesday. The company has a market cap of $2.87 billion, a price-to-earnings ratio of 27.86, a price-to-earnings-growth ratio of 1.11 and a beta of 1.10. The company has a fifty day moving average price of $78.34 and a 200 day moving average price of $76.93. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.71 and a quick ratio of 1.31. Boise Cascade, L.L.C. has a 12 month low of $65.00 and a 12 month high of $91.97.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Monday, August 3rd. The construction company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.40. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.77 billion. Boise Cascade had a net margin of 1.64% and a return on equity of 5.41%. Boise Cascade’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the firm posted $1.64 EPS. Sell-side analysts expect that Boise Cascade, L.L.C. will post 3.86 earnings per share for the current year.

Boise Cascade Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.1%. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.22. The ex-dividend date is Tuesday, September 1st. Boise Cascade’s payout ratio is currently 31.19%.

Boise Cascade Company 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.