Envestnet Asset Management Inc. Boosts Holdings in Boise Cascade, L.L.C. (NYSE:BCC)

Envestnet Asset Management Inc. boosted its position in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 6.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 144,012 shares of the construction company’s stock after acquiring an additional 9,297 shares during the period. Envestnet Asset Management Inc. owned 0.38% of Boise Cascade worth $14,126,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vise Technologies Inc. lifted its position in Boise Cascade by 3.4% during the fourth quarter. Vise Technologies Inc. now owns 3,021 shares of the construction company’s stock valued at $359,000 after acquiring an additional 100 shares during the last quarter. SummerHaven Investment Management LLC increased its stake in Boise Cascade by 1.7% during the 1st quarter. SummerHaven Investment Management LLC now owns 6,708 shares of the construction company’s stock valued at $658,000 after purchasing an additional 114 shares in the last quarter. Peak Financial Advisors LLC increased its stake in Boise Cascade by 4.8% during the 1st quarter. Peak Financial Advisors LLC now owns 3,624 shares of the construction company’s stock valued at $355,000 after purchasing an additional 166 shares in the last quarter. Bridge City Capital LLC increased its stake in Boise Cascade by 0.9% during the 4th quarter. Bridge City Capital LLC now owns 21,528 shares of the construction company’s stock valued at $2,559,000 after purchasing an additional 192 shares in the last quarter. Finally, Quarry LP increased its stake in Boise Cascade by 502.4% during the 4th quarter. Quarry LP now owns 253 shares of the construction company’s stock valued at $30,000 after purchasing an additional 211 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Loop Capital cut their price target on shares of Boise Cascade from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Truist Financial cut their price target on shares of Boise Cascade from $114.00 to $106.00 and set a “buy” rating on the stock in a research note on Tuesday, July 8th. DA Davidson cut their price target on shares of Boise Cascade from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Bank of America cut their price target on shares of Boise Cascade from $111.00 to $107.00 and set a “buy” rating on the stock in a research note on Wednesday, July 9th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Boise Cascade presently has an average rating of “Moderate Buy” and an average target price of $116.00.

Boise Cascade Stock Down 3.3%

NYSE:BCC opened at $83.89 on Friday. The firm has a market capitalization of $3.16 billion, a P/E ratio of 10.47, a PEG ratio of 4.01 and a beta of 1.34. Boise Cascade, L.L.C. has a 1-year low of $83.46 and a 1-year high of $155.42. The company’s fifty day moving average price is $88.61 and its 200-day moving average price is $100.81. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.82 and a quick ratio of 1.51.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data on Monday, May 5th. The construction company reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.30). The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Boise Cascade had a return on equity of 14.36% and a net margin of 4.72%. The firm’s revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.61 EPS. As a group, equities research analysts anticipate that Boise Cascade, L.L.C. will post 10.15 EPS for the current year.

Boise Cascade Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd were paid a $0.21 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.00%. Boise Cascade’s payout ratio is currently 10.49%.

Insider Buying and Selling at Boise Cascade

In related news, SVP Jill Twedt sold 1,200 shares of the firm’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $88.01, for a total transaction of $105,612.00. Following the sale, the senior vice president owned 34,649 shares in the company, valued at approximately $3,049,458.49. This trade represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Joanna L. Barney sold 1,000 shares of the firm’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $87.68, for a total transaction of $87,680.00. Following the sale, the executive vice president owned 12,372 shares in the company, valued at approximately $1,084,776.96. This represents a 7.48% decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by company insiders.

About Boise Cascade

Boise Cascade Company engages in manufacture of wood products and distribution of building materials in the United States and Canada. It operates through two segments, Wood Products and Building Materials Distribution. The Wood Products segment manufactures laminated veneer lumber and laminated beams used in headers and beams; I-joists for residential and commercial flooring and roofing systems, and other structural applications; structural, appearance, and industrial plywood panels; and ponderosa pine shop lumber and appearance grade boards.