Los Angeles Capital Management LLC Sells 1,183 Shares of Boise Cascade (NYSE:BCC)

Los Angeles Capital Management LLC reduced its stake in Boise Cascade (NYSE:BCC) by 7.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,372 shares of the construction company’s stock after selling 1,183 shares during the period. Los Angeles Capital Management LLC’s holdings in Boise Cascade were worth $2,204,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. SummerHaven Investment Management LLC boosted its stake in shares of Boise Cascade by 1.2% during the fourth quarter. SummerHaven Investment Management LLC now owns 7,593 shares of the construction company’s stock valued at $982,000 after purchasing an additional 93 shares in the last quarter. New York State Teachers Retirement System boosted its stake in shares of Boise Cascade by 0.4% during the fourth quarter. New York State Teachers Retirement System now owns 30,844 shares of the construction company’s stock valued at $3,990,000 after purchasing an additional 108 shares in the last quarter. Capstone Investment Advisors LLC boosted its stake in shares of Boise Cascade by 4.4% during the fourth quarter. Capstone Investment Advisors LLC now owns 3,643 shares of the construction company’s stock valued at $471,000 after purchasing an additional 154 shares in the last quarter. D.A. Davidson & CO. boosted its stake in shares of Boise Cascade by 2.8% during the fourth quarter. D.A. Davidson & CO. now owns 5,610 shares of the construction company’s stock valued at $726,000 after purchasing an additional 155 shares in the last quarter. Finally, Great Lakes Advisors LLC boosted its stake in shares of Boise Cascade by 5.0% during the fourth quarter. Great Lakes Advisors LLC now owns 3,643 shares of the construction company’s stock valued at $471,000 after purchasing an additional 175 shares in the last quarter. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Trading Down 0.3 %

NYSE:BCC opened at $122.41 on Friday. Boise Cascade has a 52 week low of $79.56 and a 52 week high of $154.67. The firm has a 50 day moving average of $134.30 and a 200 day moving average of $134.05. The company has a quick ratio of 2.05, a current ratio of 3.24 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of 9.95 and a beta of 1.57.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings results on Monday, May 6th. The construction company reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.31. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Boise Cascade had a net margin of 7.08% and a return on equity of 22.00%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company posted $2.43 earnings per share. As a group, sell-side analysts anticipate that Boise Cascade will post 10.84 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a $0.20 dividend. The ex-dividend date was Monday, June 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.65%. Boise Cascade’s dividend payout ratio is currently 6.50%.

Insiders Place Their Bets

In other Boise Cascade news, SVP Jill Twedt sold 1,852 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $135.00, for a total value of $250,020.00. Following the completion of the transaction, the senior vice president now owns 37,437 shares of the company’s stock, valued at $5,053,995. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Boise Cascade news, SVP Jill Twedt sold 1,852 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $135.00, for a total value of $250,020.00. Following the completion of the transaction, the senior vice president now owns 37,437 shares of the company’s stock, valued at $5,053,995. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jeffrey Robert Strom sold 2,500 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $135.00, for a total transaction of $337,500.00. Following the completion of the transaction, the executive vice president now directly owns 43,353 shares of the company’s stock, valued at approximately $5,852,655. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,352 shares of company stock valued at $587,520. Insiders own 0.98% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BCC shares. Truist Financial increased their price objective on shares of Boise Cascade from $156.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. StockNews.com raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a research report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $131.75.

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.