Boise Cascade, L.L.C. $BCC Shares Sold by Engineers Gate Manager LP

Engineers Gate Manager LP reduced its position in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 30.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,021 shares of the construction company’s stock after selling 12,875 shares during the period. Engineers Gate Manager LP owned about 0.09% of Boise Cascade worth $2,331,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BCC. BlackRock Inc. acquired a new position in Boise Cascade in the second quarter valued at approximately $463,729,000. California State Teachers Retirement System increased its stake in Boise Cascade by 7,450.4% in the second quarter. California State Teachers Retirement System now owns 3,278,315 shares of the construction company’s stock valued at $254,496,000 after purchasing an additional 3,234,896 shares during the last quarter. Norges Bank acquired a new stake in Boise Cascade during the fourth quarter worth approximately $42,146,000. Atlas FRM LLC acquired a new stake in Boise Cascade during the second quarter worth approximately $34,545,350. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Boise Cascade by 214,282.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 420,189 shares of the construction company’s stock worth $30,926,000 after buying an additional 419,993 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Price Performance

BCC stock opened at $75.29 on Tuesday. The company has a market capitalization of $2.63 billion, a P/E ratio of 25.52, a PEG ratio of 1.02 and a beta of 1.08. Boise Cascade, L.L.C. has a twelve month low of $65.00 and a twelve month high of $91.97. The business has a 50 day simple moving average of $78.92 and a 200-day simple moving average of $75.92. The company has a current ratio of 2.71, a quick ratio of 1.31 and a debt-to-equity ratio of 0.24.

Boise Cascade (NYSE:BCC) last announced its earnings results 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 business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the company posted $1.64 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities 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 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 is a boost 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%. The ex-dividend date is Tuesday, September 1st. Boise Cascade’s dividend payout ratio (DPR) is presently 31.19%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BCC. Weiss Ratings upgraded shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 17th. The Goldman Sachs Group boosted their price target on shares of Boise Cascade from $81.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Bank of America upped their price objective on shares of Boise Cascade from $80.00 to $81.00 and gave the company an “underperform” rating in a research note on Tuesday, July 14th. Zacks Research lowered Boise Cascade from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Finally, DA Davidson raised their price objective on Boise Cascade from $92.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $93.60.

Insider Transactions at Boise Cascade

In related news, Director Kristopher J. Matula sold 1,930 shares of the firm’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 transaction, the director owned 13,982 shares of the company’s stock, valued at $1,182,597.56. This trade represents a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 value of $99,250.00. Following the transaction, the senior vice president directly owned 25,295 shares in the company, valued at approximately $2,008,423. This represents a 4.71% decrease in their position. The SEC filing for this sale provides additional information. 1.42% of the stock is currently owned by corporate insiders.

About Boise Cascade

Boise Cascade Company is a wood products manufacturer and building materials distributor headquartered in Boise, Idaho. The company serves residential construction, repair and remodeling, and other construction markets through two primary business segments: Wood Products and Building Materials Distribution.

Its Wood Products business manufactures engineered wood products, including laminated veneer lumber, I-joists, laminated strand lumber, plywood, and other structural panels. These products are used in floors, roofs, walls, and other components of residential and commercial buildings.

Through its Building Materials Distribution operations, Boise Cascade supplies engineered wood, lumber, plywood, oriented strand board, siding, and other construction materials to dealers and professional contractors.