Royal Bank of Canada Has $114,000 Stock Holdings in Boise Cascade, L.L.C. $BCC

Royal Bank of Canada lowered its stake in Boise Cascade, L.L.C. (NYSE:BCC) by 87.6% during the first quarter, Holdings Channel.com reports. The fund owned 1,508 shares of the construction company’s stock after selling 10,609 shares during the period. Royal Bank of Canada’s holdings in Boise Cascade were worth $114,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in Boise Cascade in the fourth quarter valued at approximately $42,146,000. Wellington Management Group LLP raised its stake in shares of Boise Cascade by 19.8% during the 3rd quarter. Wellington Management Group LLP now owns 3,268,407 shares of the construction company’s stock worth $252,713,000 after purchasing an additional 539,962 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Boise Cascade by 214,282.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 420,189 shares of the construction company’s stock valued at $30,926,000 after buying an additional 419,993 shares during the last quarter. Concentric Capital Strategies LP boosted its holdings in shares of Boise Cascade by 202.0% in the 4th quarter. Concentric Capital Strategies LP now owns 425,179 shares of the construction company’s stock valued at $31,293,000 after buying an additional 284,406 shares during the last quarter. Finally, Two Sigma Investments LP grew its stake in shares of Boise Cascade by 377.6% in the third quarter. Two Sigma Investments LP now owns 292,556 shares of the construction company’s stock valued at $22,620,000 after buying an additional 231,302 shares in the last quarter. Institutional investors own 96.18% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. DA Davidson upped their price target on shares of Boise Cascade from $92.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Bank of America lifted their price objective on shares of Boise Cascade from $80.00 to $81.00 and gave the company an “underperform” rating in a research report on Tuesday, July 14th. The Goldman Sachs Group boosted their price objective on shares of Boise Cascade from $81.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Weiss Ratings raised shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 17th. Finally, Truist Financial set a $97.00 target price on shares of Boise Cascade in a research note on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $93.60.

Insider Activity

In other news, SVP Jill Twedt sold 1,250 shares of the business’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 transaction of $99,250.00. Following the completion of the sale, the senior vice president owned 25,295 shares in the company, valued at $2,008,423. The trade was a 4.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kristopher J. Matula sold 1,930 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total value of $163,239.40. Following the completion of the transaction, the director directly owned 13,982 shares in the company, valued at $1,182,597.56. The trade was a 12.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.42% of the company’s stock.

Boise Cascade Stock Down 0.3%

BCC stock opened at $78.52 on Monday. Boise Cascade, L.L.C. has a 1-year low of $65.00 and a 1-year high of $91.97. The business’s 50 day simple moving average is $78.88 and its 200 day simple moving average is $76.64. The company has a current ratio of 2.71, a quick ratio of 1.31 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $2.74 billion, a PE ratio of 26.62, a PEG ratio of 1.06 and a beta of 1.10.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Monday, August 3rd. The construction company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.40. Boise Cascade had a return on equity of 5.41% and a net margin of 1.64%.The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the firm posted $1.64 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, research analysts anticipate that Boise Cascade, L.L.C. will post 3.86 EPS for the current year.

Boise Cascade Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.2%. 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. Boise Cascade’s payout ratio is presently 29.83%.

Boise Cascade Company 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.