Engineers Gate Manager LP Cuts Stock Position in Boise Cascade, L.L.C. $BCC

Engineers Gate Manager LP cut its stake in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 30.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 30,021 shares of the construction company’s stock after selling 12,875 shares during the period. Engineers Gate Manager LP’s holdings in Boise Cascade were worth $2,331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. WINTON GROUP Ltd purchased a new position in Boise Cascade during the 4th quarter worth $6,655,000. Pictet Asset Management Holding SA boosted its holdings in shares of Boise Cascade by 22.2% in the second quarter. Pictet Asset Management Holding SA now owns 117,675 shares of the construction company’s stock valued at $9,135,000 after acquiring an additional 21,362 shares in the last quarter. Verition Fund Management LLC boosted its holdings in shares of Boise Cascade by 10.4% in the fourth quarter. Verition Fund Management LLC now owns 458,192 shares of the construction company’s stock valued at $33,723,000 after acquiring an additional 43,255 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Boise Cascade by 214,282.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 420,189 shares of the construction company’s stock worth $30,926,000 after acquiring an additional 419,993 shares during the period. Finally, Concentric Capital Strategies LP increased its stake in shares of Boise Cascade by 202.0% during the fourth quarter. Concentric Capital Strategies LP now owns 425,179 shares of the construction company’s stock worth $31,293,000 after acquiring an additional 284,406 shares during the period. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Boise Cascade Stock Performance

Shares of BCC opened at $75.29 on Tuesday. The company has a 50-day simple moving average of $78.92 and a 200-day simple moving average of $75.92. The company has a quick ratio of 1.31, a current ratio of 2.71 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $2.63 billion, a PE ratio of 25.52, a P/E/G ratio of 1.02 and a beta of 1.08. Boise Cascade, L.L.C. has a 52-week low of $65.00 and a 52-week high of $91.97.

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

Boise Cascade Increases Dividend

The company also recently declared 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 is a positive change from Boise Cascade’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.92 annualized dividend and a dividend yield of 1.2%. Boise Cascade’s dividend payout ratio is presently 31.19%.

Analysts Set New Price Targets

Several research firms recently issued reports on BCC. Zacks Research cut shares of Boise Cascade from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Wall Street Zen upgraded Boise Cascade from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings raised Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, August 17th. The Goldman Sachs Group raised their price target on Boise Cascade from $81.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Finally, DA Davidson lifted their price target on Boise Cascade from $92.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Three equities research 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’s stock. Based on data from MarketBeat, Boise Cascade currently has an average rating of “Hold” and an average target price of $93.60.

Insider Activity at Boise Cascade

In related news, Director Kristopher Matula sold 1,930 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total value of $163,239.40. Following the sale, the director owned 13,982 shares in the company, valued at $1,182,597.56. This represents a 12.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Jill Twedt sold 1,250 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $79.40, for a total value of $99,250.00. Following the completion of the sale, the senior vice president owned 25,295 shares in the company, valued at approximately $2,008,423. This represents a 4.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.42% of the stock is owned by insiders.

About Boise Cascade

Boise Cascade Company is a wood products manufacturer and building materials distributor headquartered in Boise, Idaho. The company serves residential construction, repair and remodeling, and other construction markets through two primary business segments: Wood Products and Building Materials Distribution.

Its Wood Products business manufactures engineered wood products, including laminated veneer lumber, I-joists, laminated strand lumber, plywood, and other structural panels. These products are used in floors, roofs, walls, and other components of residential and commercial buildings.

Through its Building Materials Distribution operations, Boise Cascade supplies engineered wood, lumber, plywood, oriented strand board, siding, and other construction materials to dealers and professional contractors.