Northwestern Mutual Wealth Management Co. Has $40,000 Stock Holdings in Boise Cascade, L.L.C. $BCC

Northwestern Mutual Wealth Management Co. increased its stake in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 120.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 406 shares of the construction company’s stock after purchasing an additional 222 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Boise Cascade were worth $40,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vise Technologies Inc. grew its holdings in Boise Cascade by 3.4% during the 4th quarter. Vise Technologies Inc. now owns 3,021 shares of the construction company’s stock worth $359,000 after acquiring an additional 100 shares during the last quarter. SummerHaven Investment Management LLC raised its position 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 worth $658,000 after purchasing an additional 114 shares during the last quarter. Peak Financial Advisors LLC raised its position 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 worth $355,000 after purchasing an additional 166 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Boise Cascade by 9.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,817 shares of the construction company’s stock worth $276,000 after purchasing an additional 251 shares during the last quarter. Finally, Mission Wealth Management LP raised its position in Boise Cascade by 4.4% during the 1st quarter. Mission Wealth Management LP now owns 7,729 shares of the construction company’s stock worth $758,000 after purchasing an additional 327 shares during the last quarter. 96.18% of the stock is owned by institutional investors.

Insider Buying and Selling at Boise Cascade

In related news, COO Jeffrey Robert Strom sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $91.06, for a total transaction of $91,060.00. Following the transaction, the chief operating officer directly owned 37,026 shares of the company’s stock, valued at $3,371,587.56. This trade represents a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Troy Little sold 2,033 shares of the firm’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $83.10, for a total transaction of $168,942.30. Following the transaction, the executive vice president directly owned 12,701 shares in the company, valued at $1,055,453.10. The trade was a 13.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,815 shares of company stock valued at $409,637. Corporate insiders own 1.11% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BCC. Truist Financial lowered their target price on Boise Cascade from $106.00 to $101.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. DA Davidson reduced their price objective 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, July 18th. BMO Capital Markets reduced their price objective on shares of Boise Cascade from $114.00 to $108.00 and set a “market perform” rating on the stock in a research note on Thursday, August 7th. Finally, Bank of America reduced their price objective 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 research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $112.83.

Boise Cascade Stock Performance

Shares of Boise Cascade stock opened at $90.05 on Monday. Boise Cascade, L.L.C. has a one year low of $80.01 and a one year high of $155.42. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 5.36 and a beta of 1.33. The business has a 50-day simple moving average of $87.19 and a 200 day simple moving average of $91.39. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.96 and a quick ratio of 1.54.

Boise Cascade (NYSE:BCC) last issued its earnings results on Monday, August 4th. The construction company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.05). Boise Cascade had a net margin of 4.00% and a return on equity of 12.26%. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the firm earned $2.84 earnings per share. The business’s quarterly revenue was down 3.2% on a year-over-year basis. On average, research analysts anticipate that Boise Cascade, L.L.C. will post 10.15 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 17th. Shareholders of record on Tuesday, September 2nd will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.0%. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, September 2nd. Boise Cascade’s payout ratio is 12.92%.

Boise Cascade Profile

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.