Glenmede Trust Co. NA Sells 9,517 Shares of Boise Cascade, L.L.C. $BCC

Glenmede Trust Co. NA cut its position in Boise Cascade, L.L.C. (NYSE:BCC) by 8.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 102,420 shares of the construction company’s stock after selling 9,517 shares during the period. Glenmede Trust Co. NA’s holdings in Boise Cascade were worth $7,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Royal Bank of Canada increased its stake in Boise Cascade by 4.0% in the 1st quarter. Royal Bank of Canada now owns 34,704 shares of the construction company’s stock worth $3,404,000 after buying an additional 1,332 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Boise Cascade by 8.8% in the first quarter. AQR Capital Management LLC now owns 36,639 shares of the construction company’s stock valued at $3,594,000 after acquiring an additional 2,966 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Boise Cascade by 1,638.4% in the first quarter. Jones Financial Companies Lllp now owns 4,120 shares of the construction company’s stock worth $404,000 after acquiring an additional 3,883 shares during the period. United Services Automobile Association bought a new position in shares of Boise Cascade in the first quarter worth about $258,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Boise Cascade by 2.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 203,631 shares of the construction company’s stock worth $19,974,000 after purchasing an additional 3,978 shares in the last quarter. 96.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BCC. Zacks Research raised Boise Cascade from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. Bank of America increased their price objective on shares of Boise Cascade from $80.00 to $81.00 and gave the company an “underperform” rating in a report on Tuesday, July 14th. DA Davidson reduced their price objective on shares of Boise Cascade from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Truist Financial set a $97.00 target price on shares of Boise Cascade in a report on Wednesday, May 6th. Finally, Weiss Ratings upgraded shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Boise Cascade currently has a consensus rating of “Moderate Buy” and an average price target of $92.80.

Insider Activity at Boise Cascade

In other news, SVP Jill Twedt sold 6,070 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $66.45, for a total value of $403,351.50. Following the sale, the senior vice president directly owned 26,545 shares in the company, valued at $1,763,915.25. The trade was a 18.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.42% of the stock is owned by insiders.

Boise Cascade Stock Up 8.6%

Shares of BCC opened at $82.92 on Tuesday. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 28.01, a price-to-earnings-growth ratio of 1.05 and a beta of 1.08. 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 $74.08 and its 200-day simple moving average is $76.92. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.77 and a quick ratio of 1.37.

Boise Cascade (NYSE:BCC) last posted its earnings results on Monday, August 3rd. The construction company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.40. Boise Cascade had a net margin of 1.73% and a return on equity of 5.55%. The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the firm posted $1.64 earnings per share. Boise Cascade’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities analysts expect that Boise Cascade, L.L.C. will post 3.83 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The firm also recently disclosed 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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase from Boise Cascade’s previous quarterly dividend of $0.22. Boise Cascade’s dividend payout ratio is 31.08%.

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.