Royce & Associates LP Sells 24,400 Shares of Boise Cascade, L.L.C. $BCC

Royce & Associates LP cut its position in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 23.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 80,000 shares of the construction company’s stock after selling 24,400 shares during the period. Royce & Associates LP’s holdings in Boise Cascade were worth $5,888,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its position in shares of Boise Cascade by 231.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock valued at $29,000 after purchasing an additional 259 shares during the period. Fifth Third Bancorp increased its position in shares of Boise Cascade by 77.5% during the fourth quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock valued at $30,000 after purchasing an additional 179 shares during the period. Hantz Financial Services Inc. increased its position in shares of Boise Cascade by 1,071.4% during the third quarter. Hantz Financial Services Inc. now owns 492 shares of the construction company’s stock valued at $38,000 after purchasing an additional 450 shares during the period. Advisory Services Network LLC bought a new stake in shares of Boise Cascade during the third quarter valued at approximately $38,000. Finally, Signaturefd LLC increased its position in shares of Boise Cascade by 5,866.7% during the fourth quarter. Signaturefd LLC now owns 537 shares of the construction company’s stock valued at $40,000 after purchasing an additional 528 shares during the period. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Stock Performance

NYSE:BCC opened at $69.98 on Friday. Boise Cascade, L.L.C. has a 1 year low of $65.00 and a 1 year high of $95.00. The firm has a 50 day moving average of $74.46 and a 200-day moving average of $76.81. The company has a current ratio of 2.77, a quick ratio of 1.37 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $2.46 billion, a P/E ratio of 23.64, a price-to-earnings-growth ratio of 1.05 and a beta of 1.15.

Boise Cascade (NYSE:BCC) last posted its earnings results on Monday, May 4th. The construction company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the company posted $1.06 earnings per share. Boise Cascade’s quarterly revenue was down 2.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Boise Cascade, L.L.C. will post 3.67 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Monday, June 1st will be paid a $0.22 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.3%. Boise Cascade’s payout ratio is 29.73%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BCC. The Goldman Sachs Group boosted their price objective on Boise Cascade from $85.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. DA Davidson lowered their price target on Boise Cascade from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Wall Street Zen upgraded Boise Cascade from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Truist Financial set a $97.00 price target on Boise Cascade in a research report on Wednesday, May 6th. Finally, Zacks Research upgraded Boise Cascade from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.00.

Insider Activity at Boise Cascade

In other news, SVP Jill Twedt sold 6,070 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $66.45, for a total transaction of $403,351.50. Following the sale, the senior vice president owned 26,545 shares in the company, valued at approximately $1,763,915.25. This represents a 18.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.42% of the company’s stock.

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.