Renaissance Technologies LLC Sells 42,200 Shares of Boise Cascade, L.L.C. $BCC

Renaissance Technologies LLC cut its position in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 14.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 240,549 shares of the construction company’s stock after selling 42,200 shares during the quarter. Renaissance Technologies LLC owned 0.68% of Boise Cascade worth $18,246,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership acquired a new position in shares of Boise Cascade during the 1st quarter worth approximately $4,412,000. Cetera Investment Advisers acquired a new stake in shares of Boise Cascade in the 1st quarter valued at approximately $342,000. First Trust Advisors LP grew its stake in shares of Boise Cascade by 9.1% in the first quarter. First Trust Advisors LP now owns 60,024 shares of the construction company’s stock valued at $4,553,000 after buying an additional 4,999 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Boise Cascade by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,325,781 shares of the construction company’s stock valued at $176,410,000 after buying an additional 46,561 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in Boise Cascade by 8.7% during the first quarter. Assetmark Inc. now owns 68,207 shares of the construction company’s stock worth $5,174,000 after buying an additional 5,465 shares during the last quarter. Institutional investors own 96.18% of the company’s stock.

Analysts Set New Price Targets

BCC has been the topic of a number of recent analyst reports. Truist Financial set a $97.00 price target on Boise Cascade in a research report on Wednesday, May 6th. Bank of America lifted their target price on Boise Cascade from $80.00 to $81.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 14th. DA Davidson decreased their target price on Boise Cascade from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Weiss Ratings upgraded Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Finally, Zacks Research raised Boise Cascade from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Boise Cascade presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.80.

Insider Buying and Selling at Boise Cascade

In related news, SVP Jill Twedt sold 6,070 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $66.45, for a total value of $403,351.50. Following the completion of the transaction, the senior vice president owned 26,545 shares in the company, valued at $1,763,915.25. This trade represents a 18.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.42% of the company’s stock.

Boise Cascade Price Performance

Boise Cascade stock opened at $75.45 on Friday. The stock’s fifty day moving average price is $73.58 and its two-hundred day moving average price is $76.97. Boise Cascade, L.L.C. has a one year low of $65.00 and a one year high of $91.97. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.77 and a quick ratio of 1.37. The firm has a market cap of $2.66 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 1.07 and a beta of 1.08.

Boise Cascade (NYSE:BCC) last issued its earnings results on Monday, May 4th. The construction company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.43 by $0.07. Boise Cascade had a net margin of 1.73% and a return on equity of 5.55%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the company earned $1.06 EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, research analysts expect that Boise Cascade, L.L.C. will post 3.83 EPS 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. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.2%. Boise Cascade’s payout ratio is 29.73%.

Boise Cascade 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.