MQS Management LLC Purchases 2,222 Shares of Boise Cascade, L.L.C. $BCC

MQS Management LLC boosted its position in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 54.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,331 shares of the construction company’s stock after purchasing an additional 2,222 shares during the period. MQS Management LLC’s holdings in Boise Cascade were worth $550,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in BCC. GAMMA Investing LLC increased its holdings in Boise Cascade by 60.6% during the 1st quarter. GAMMA Investing LLC now owns 1,458 shares of the construction company’s stock worth $143,000 after purchasing an additional 550 shares in the last quarter. U S Global Investors Inc. bought a new position in shares of Boise Cascade in the 1st quarter valued at about $147,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Boise Cascade by 27.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 89,273 shares of the construction company’s stock valued at $8,830,000 after acquiring an additional 19,317 shares in the last quarter. Peregrine Capital Management LLC grew its holdings in shares of Boise Cascade by 3.3% in the 1st quarter. Peregrine Capital Management LLC now owns 72,922 shares of the construction company’s stock valued at $7,153,000 after acquiring an additional 2,313 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Boise Cascade by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 214,074 shares of the construction company’s stock valued at $20,999,000 after acquiring an additional 5,751 shares in the last quarter. Institutional investors own 96.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BCC shares. Bank of America decreased their price objective on Boise Cascade from $111.00 to $107.00 and set a “buy” rating for the company in a report on Wednesday, July 9th. Weiss Ratings restated a “hold (c-)” rating on shares of Boise Cascade in a report on Friday. BMO Capital Markets restated a “market perform” rating and set a $100.00 price objective on shares of Boise Cascade in a report on Tuesday, September 16th. Truist Financial dropped their price target on shares of Boise Cascade from $101.00 to $96.00 and set a “buy” rating for the company in a research report on Wednesday, September 17th. Finally, DA Davidson dropped their price target on shares of Boise Cascade from $100.00 to $95.00 and set a “buy” rating for the company in a research report on Friday. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Boise Cascade currently has an average rating of “Moderate Buy” and a consensus price target of $102.50.

Boise Cascade Stock Up 1.6%

NYSE BCC opened at $73.13 on Friday. Boise Cascade, L.L.C. has a 1-year low of $70.00 and a 1-year high of $155.42. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 10.74, a PEG ratio of 5.58 and a beta of 1.27. The company has a current ratio of 2.96, a quick ratio of 1.54 and a debt-to-equity ratio of 0.21. The company has a 50 day moving average of $80.43 and a 200-day moving average of $86.08.

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

Boise Cascade Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.22 per share. This is an increase from Boise Cascade’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 1.2%. The ex-dividend date was Tuesday, September 2nd. Boise Cascade’s dividend payout ratio (DPR) is presently 12.92%.

Insider Buying and Selling at Boise Cascade

In other Boise Cascade news, EVP Troy Little sold 2,033 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $83.10, for a total transaction of $168,942.30. Following the completion of the transaction, the executive vice president directly owned 12,701 shares in the company, valued at $1,055,453.10. The trade was a 13.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jill Twedt sold 1,782 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,759,841.99. This represents a 5.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,815 shares of company stock worth $409,637 over the last three months. Corporate insiders own 0.98% of the company’s stock.

Boise Cascade 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.