Boise Cascade, L.L.C. $BCC Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP trimmed its holdings in Boise Cascade, L.L.C. (NYSE:BCC) by 23.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,824,952 shares of the construction company’s stock after selling 555,547 shares during the period. Wellington Management Group LLP owned approximately 0.05% of Boise Cascade worth $141,671,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cerity Partners LLC lifted its stake in shares of Boise Cascade by 3.8% in the 2nd quarter. Cerity Partners LLC now owns 3,274 shares of the construction company’s stock valued at $284,000 after purchasing an additional 121 shares during the last quarter. Raymond James Financial Inc. raised its holdings in Boise Cascade by 1.0% in the 2nd quarter. Raymond James Financial Inc. now owns 13,219 shares of the construction company’s stock valued at $1,148,000 after buying an additional 126 shares during the period. Fifth Third Bancorp raised its holdings in Boise Cascade by 77.5% in the 4th quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock valued at $30,000 after buying an additional 179 shares during the period. ProShare Advisors LLC lifted its position in Boise Cascade by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 7,329 shares of the construction company’s stock valued at $539,000 after buying an additional 226 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in Boise Cascade by 231.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock valued at $29,000 after buying an additional 259 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on BCC. Bank of America lifted their price target 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. DA Davidson upped their price objective on shares of Boise Cascade from $92.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Weiss Ratings raised shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 17th. Zacks Research downgraded shares of Boise Cascade from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Finally, The Goldman Sachs Group boosted their target price on Boise Cascade from $81.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $93.60.

Insider Buying and Selling at Boise Cascade

In other news, Director Kristopher J. Matula sold 1,930 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total transaction of $163,239.40. Following the completion of the transaction, the director directly owned 13,982 shares of the company’s stock, valued at approximately $1,182,597.56. This represents a 12.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jill Twedt sold 1,250 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $79.40, for a total value of $99,250.00. Following the completion of the transaction, the senior vice president owned 25,295 shares in the company, valued at approximately $2,008,423. The trade was a 4.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.42% of the company’s stock.

Boise Cascade Trading Down 1.1%

NYSE BCC opened at $77.92 on Tuesday. The company has a quick ratio of 1.31, a current ratio of 2.71 and a debt-to-equity ratio of 0.24. Boise Cascade, L.L.C. has a 52 week low of $65.00 and a 52 week high of $91.97. The stock has a market capitalization of $2.72 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 1.06 and a beta of 1.10. The firm has a 50 day moving average of $78.99 and a two-hundred day moving average of $76.56.

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

Boise Cascade Increases Dividend

The firm 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 $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.2%. This is a boost from Boise Cascade’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, September 1st. Boise Cascade’s dividend payout ratio is currently 29.83%.

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.