Renaissance Technologies LLC Sells 42,200 Shares of Boise Cascade, L.L.C. $BCC

Renaissance Technologies LLC trimmed its position in Boise Cascade, L.L.C. (NYSE:BCC) by 14.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 240,549 shares of the construction company’s stock after selling 42,200 shares during the quarter. Renaissance Technologies LLC’s holdings in Boise Cascade were worth $18,246,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership bought a new stake in shares of Boise Cascade during the first quarter valued at approximately $4,412,000. Cetera Investment Advisers acquired a new position in Boise Cascade during the first quarter worth $342,000. First Trust Advisors LP lifted its stake in shares of Boise Cascade by 9.1% in the first quarter. First Trust Advisors LP now owns 60,024 shares of the construction company’s stock valued at $4,553,000 after buying an additional 4,999 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Boise Cascade by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,325,781 shares of the construction company’s stock valued at $176,410,000 after buying an additional 46,561 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in shares of Boise Cascade by 8.7% during the first quarter. Assetmark Inc. now owns 68,207 shares of the construction company’s stock valued at $5,174,000 after buying an additional 5,465 shares during the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Boise Cascade Price Performance

BCC opened at $75.45 on Friday. The firm has a market cap of $2.66 billion, a P/E ratio of 25.49, a PEG ratio of 1.07 and a beta of 1.08. The firm has a 50-day moving average of $73.58 and a 200 day moving average of $76.97. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.37 and a current ratio of 2.77. 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 posted its quarterly earnings results on Monday, May 4th. The construction company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.07. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Boise Cascade had a net margin of 1.73% and a return on equity of 5.55%. Boise Cascade’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.06 EPS. On average, research analysts expect that Boise Cascade, L.L.C. will post 3.83 EPS for the current year.

Boise Cascade Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.23 per share. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.92 dividend on an annualized basis and a yield of 1.2%. Boise Cascade’s payout ratio is currently 29.73%.

Insider Buying and Selling

In other news, SVP Jill Twedt sold 6,070 shares of the 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 of the company’s stock, 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 filing with the SEC, which can be accessed through the SEC website. 1.42% of the stock is currently owned by corporate insiders.

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.