Voya Investment Management LLC Sells 792 Shares of Boise Cascade, L.L.C. $BCC

Voya Investment Management LLC trimmed its stake in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 3.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,167 shares of the construction company’s stock after selling 792 shares during the quarter. Voya Investment Management LLC owned 0.06% of Boise Cascade worth $2,371,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vise Technologies Inc. raised its stake in shares of Boise Cascade by 3.4% during the 4th quarter. Vise Technologies Inc. now owns 3,021 shares of the construction company’s stock valued at $359,000 after purchasing an additional 100 shares during the period. SummerHaven Investment Management LLC raised its stake in shares of 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 during the period. Peak Financial Advisors LLC raised its stake in shares of 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 during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Boise Cascade by 120.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 406 shares of the construction company’s stock valued at $40,000 after purchasing an additional 222 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in shares of 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 valued at $276,000 after purchasing an additional 251 shares during the period. 96.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Boise Cascade news, EVP Troy Little sold 2,033 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $83.10, for a total value of $168,942.30. Following the completion of the sale, the executive vice president owned 12,701 shares in the company, valued at approximately $1,055,453.10. This trade represents a 13.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey Robert Strom sold 1,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $91.06, for a total value of $91,060.00. Following the completion of the sale, the chief operating officer owned 37,026 shares of the company’s stock, valued at approximately $3,371,587.56. This trade represents a 2.63% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,815 shares of company stock worth $409,637. 1.11% of the stock is currently owned by company insiders.

Boise Cascade Price Performance

BCC opened at $79.36 on Monday. The stock’s 50 day simple moving average is $85.74 and its 200 day simple moving average is $90.09. 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, L.L.C. has a 1 year low of $79.27 and a 1 year high of $155.42. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 5.41 and a beta of 1.33.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings results on Monday, August 4th. The construction company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.05). Boise Cascade had a return on equity of 12.26% and a net margin of 4.00%.The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the business earned $2.84 earnings per share. Boise Cascade’s revenue was down 3.2% compared to the same quarter last year. As a group, analysts predict that Boise Cascade, L.L.C. will post 10.15 earnings per share for the current year.

Boise Cascade Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd were issued a $0.22 dividend. This is an increase from Boise Cascade’s previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, September 2nd. This represents a $0.88 annualized dividend and a yield of 1.1%. Boise Cascade’s dividend payout ratio (DPR) is 12.92%.

Analyst Ratings Changes

BCC has been the topic of a number of analyst reports. Truist Financial decreased their price objective on Boise Cascade from $101.00 to $96.00 and set a “buy” rating on the stock in a research note on Wednesday, September 17th. BMO Capital Markets restated a “market perform” rating and issued a $100.00 target price on shares of Boise Cascade in a research note on Tuesday, September 16th. DA Davidson decreased their target price on Boise Cascade from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, July 18th. Finally, Bank of America decreased their target price on 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 analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $110.67.

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.