Glenmede Trust Co. NA Decreases Stake in Boise Cascade, L.L.C. $BCC

Glenmede Trust Co. NA reduced its holdings in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 8.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 102,420 shares of the construction company’s stock after selling 9,517 shares during the quarter. Glenmede Trust Co. NA owned 0.29% of Boise Cascade worth $7,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its position in Boise Cascade by 231.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock worth $29,000 after buying an additional 259 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Boise Cascade by 77.5% during the 4th quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock valued at $30,000 after acquiring an additional 179 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Boise Cascade during the 3rd quarter valued at about $38,000. UMB Bank n.a. grew its stake in shares of Boise Cascade by 98.5% in the fourth quarter. UMB Bank n.a. now owns 524 shares of the construction company’s stock worth $39,000 after acquiring an additional 260 shares during the period. Finally, Signaturefd LLC grew its stake in shares of Boise Cascade by 5,866.7% in the fourth quarter. Signaturefd LLC now owns 537 shares of the construction company’s stock worth $40,000 after acquiring an additional 528 shares during the period. 96.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Boise Cascade Trading Up 8.6%

Shares of Boise Cascade stock opened at $82.92 on Tuesday. The company’s fifty day simple moving average is $74.08 and its 200-day simple moving average is $76.92. The stock has a market capitalization of $2.92 billion, a PE ratio of 28.01, a P/E/G ratio of 1.05 and a beta of 1.08. Boise Cascade, L.L.C. has a 1-year low of $65.00 and a 1-year high of $91.97. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.77 and a quick ratio of 1.37.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Monday, August 3rd. The construction company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.40. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.77 billion. Boise Cascade had a net margin of 1.73% and a return on equity of 5.55%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.64 EPS. As a group, equities analysts anticipate that Boise Cascade, L.L.C. will post 3.83 earnings per share for the current year.

Boise Cascade Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.23 per share. This is a boost from Boise Cascade’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 1st. Boise Cascade’s dividend payout ratio is presently 31.08%.

Insider Buying and Selling

In other Boise Cascade news, SVP Jill Twedt sold 6,070 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $66.45, for a total value of $403,351.50. Following the completion of the sale, the senior vice president owned 26,545 shares in the company, valued at $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 is available through this hyperlink. 1.42% of the stock is currently owned by insiders.

About Boise Cascade

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.