Invst LLC Purchases Shares of 5,114 Boise Cascade (NYSE:BCC)

Invst LLC purchased a new stake in Boise Cascade (NYSE:BCC) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,114 shares of the construction company’s stock, valued at approximately $782,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC lifted its stake in Boise Cascade by 1.2% in the fourth quarter. SummerHaven Investment Management LLC now owns 7,593 shares of the construction company’s stock valued at $982,000 after buying an additional 93 shares during the period. Measured Wealth Private Client Group LLC raised its position in shares of Boise Cascade by 1.8% during the first quarter. Measured Wealth Private Client Group LLC now owns 5,273 shares of the construction company’s stock worth $809,000 after purchasing an additional 95 shares during the period. New York State Teachers Retirement System raised its position in shares of Boise Cascade by 0.4% during the fourth quarter. New York State Teachers Retirement System now owns 30,844 shares of the construction company’s stock worth $3,990,000 after purchasing an additional 108 shares during the period. Bridge City Capital LLC raised its position in shares of Boise Cascade by 0.8% during the first quarter. Bridge City Capital LLC now owns 18,270 shares of the construction company’s stock worth $2,802,000 after purchasing an additional 143 shares during the period. Finally, Capstone Investment Advisors LLC raised its position in shares of Boise Cascade by 4.4% during the fourth quarter. Capstone Investment Advisors LLC now owns 3,643 shares of the construction company’s stock worth $471,000 after purchasing an additional 154 shares during the period. 96.18% of the stock is owned by institutional investors and hedge funds.

Boise Cascade Stock Performance

Shares of NYSE BCC traded down $4.71 during mid-day trading on Friday, reaching $128.89. 326,874 shares of the company’s stock were exchanged, compared to its average volume of 295,427. The firm has a market capitalization of $5.09 billion, a price-to-earnings ratio of 10.48 and a beta of 1.50. Boise Cascade has a 52 week low of $87.32 and a 52 week high of $154.67. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.24 and a quick ratio of 2.05. The firm has a 50-day moving average price of $128.11 and a two-hundred day moving average price of $134.67.

Boise Cascade (NYSE:BCC) last released its earnings results on Monday, May 6th. The construction company reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.31. The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Boise Cascade had a return on equity of 22.00% and a net margin of 7.08%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.43 EPS. Analysts predict that Boise Cascade will post 10.41 EPS for the current year.

Boise Cascade Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be issued a $0.21 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $0.84 annualized dividend and a yield of 0.65%. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.20. Boise Cascade’s dividend payout ratio (DPR) is 6.50%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BCC. Truist Financial lowered their target price on Boise Cascade from $175.00 to $159.00 and set a “buy” rating on the stock in a research report on Tuesday, July 16th. StockNews.com raised Boise Cascade from a “hold” rating to a “buy” rating in a research report on Tuesday, May 7th. Finally, The Goldman Sachs Group lowered their target price on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $126.00.

Insider Buying and Selling

In related news, SVP Jill Twedt sold 1,852 shares of Boise Cascade stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $135.00, for a total value of $250,020.00. Following the completion of the sale, the senior vice president now owns 37,437 shares of the company’s stock, valued at approximately $5,053,995. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Boise Cascade news, EVP Jeffrey Robert Strom sold 2,500 shares of Boise Cascade stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $135.00, for a total transaction of $337,500.00. Following the completion of the transaction, the executive vice president now owns 43,353 shares of the company’s stock, valued at approximately $5,852,655. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jill Twedt sold 1,852 shares of Boise Cascade stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $135.00, for a total value of $250,020.00. Following the transaction, the senior vice president now directly owns 37,437 shares of the company’s stock, valued at approximately $5,053,995. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by insiders.

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.