Advisors Asset Management Inc. Sells 787 Shares of Boise Cascade, L.L.C. $BCC

Advisors Asset Management Inc. trimmed its holdings in Boise Cascade, L.L.C. (NYSE:BCC) by 0.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,295 shares of the construction company’s stock after selling 787 shares during the quarter. Advisors Asset Management Inc. owned about 0.26% of Boise Cascade worth $9,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Boise Cascade by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 4,422,544 shares of the construction company’s stock valued at $433,807,000 after purchasing an additional 70,231 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Boise Cascade by 1.4% in the first quarter. Wellington Management Group LLP now owns 2,629,978 shares of the construction company’s stock worth $257,975,000 after buying an additional 35,639 shares during the last quarter. Westwood Holdings Group Inc. boosted its holdings in shares of Boise Cascade by 25.7% in the first quarter. Westwood Holdings Group Inc. now owns 1,499,305 shares of the construction company’s stock worth $147,067,000 after buying an additional 306,684 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Boise Cascade by 8.1% in the first quarter. American Century Companies Inc. now owns 1,226,383 shares of the construction company’s stock worth $120,296,000 after buying an additional 92,019 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Boise Cascade by 17.8% in the fourth quarter. Northern Trust Corp now owns 483,165 shares of the construction company’s stock worth $57,429,000 after buying an additional 73,061 shares during the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. DA Davidson decreased their target price on shares of 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 price objective on shares of Boise Cascade from $114.00 to $108.00 and set a “market perform” rating for the company in a research report on Thursday, August 7th. Bank of America decreased their target price on shares of Boise Cascade from $111.00 to $107.00 and set a “buy” rating on the stock in a research report on Wednesday, July 9th. Finally, Truist Financial dropped their price objective on shares of Boise Cascade from $106.00 to $101.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $112.83.

Insider Activity

In other news, EVP Troy Little sold 2,033 shares of the company’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $83.10, for a total transaction of $168,942.30. Following 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jill Twedt sold 1,782 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $83.97, for a total transaction of $149,634.54. Following the transaction, the senior vice president owned 32,867 shares in the company, valued at approximately $2,759,841.99. This trade represents a 5.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,815 shares of company stock worth $409,637 over the last 90 days. 1.11% of the stock is currently owned by corporate insiders.

Boise Cascade Stock Performance

Shares of Boise Cascade stock opened at $83.99 on Thursday. The company has a market capitalization of $3.14 billion, a PE ratio of 12.33, a P/E/G ratio of 5.18 and a beta of 1.33. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.54 and a current ratio of 2.96. The company has a 50-day simple moving average of $87.17 and a two-hundred day simple moving average of $92.21. Boise Cascade, L.L.C. has a one year low of $80.01 and a one year high of $155.42.

Boise Cascade (NYSE:BCC) last announced its earnings results on Monday, August 4th. The construction company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.05). The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.76 billion. Boise Cascade had a return on equity of 12.26% and a net margin of 4.00%.The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.84 earnings per share. Research analysts expect that Boise Cascade, L.L.C. will post 10.15 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.0%. This is an increase from Boise Cascade’s previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, September 2nd. Boise Cascade’s dividend payout ratio is currently 12.33%.

About Boise Cascade

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.