Royal Bank of Canada Sells 10,609 Shares of Boise Cascade, L.L.C. $BCC

Royal Bank of Canada cut its stake in Boise Cascade, L.L.C. (NYSE:BCC) by 87.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BCC. Caitong International Asset Management Co. Ltd grew its position in Boise Cascade by 231.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock worth $29,000 after acquiring an additional 259 shares during the last quarter. Fifth Third Bancorp raised its position 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 purchasing an additional 179 shares during the last quarter. Advisory Services Network LLC acquired a new position in Boise Cascade in the third quarter worth $38,000. UMB Bank n.a. grew its holdings in shares of Boise Cascade by 98.5% during the fourth quarter. UMB Bank n.a. now owns 524 shares of the construction company’s stock worth $39,000 after purchasing an additional 260 shares during the last quarter. Finally, iSAM Funds UK Ltd bought a new stake in shares of Boise Cascade during the third quarter worth $44,000. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BCC has been the topic of several research reports. The Goldman Sachs Group upped their price target on shares of Boise Cascade from $81.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Bank of America boosted their target price on shares of Boise Cascade from $80.00 to $81.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 14th. Truist Financial set a $97.00 target price on shares of Boise Cascade in a research report on Wednesday, May 6th. Wall Street Zen raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Weiss Ratings raised Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 17th. Three 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 data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $93.60.

Insider Activity

In other news, SVP Jill Twedt sold 1,250 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $79.40, for a total transaction of $99,250.00. Following the sale, the senior vice president owned 25,295 shares of the company’s stock, valued at $2,008,423. This trade represents a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kristopher J. Matula sold 1,930 shares of the business’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 owned 13,982 shares of the company’s stock, valued at $1,182,597.56. This represents a 12.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.42% of the stock is owned by corporate insiders.

Boise Cascade Stock Down 0.3%

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

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

Boise Cascade Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Tuesday, September 1st will be paid a $0.23 dividend. 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 yield of 1.2%. Boise Cascade’s payout ratio is presently 29.83%.

About Boise Cascade

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.