QRG Capital Management Inc. Sells 27,407 Shares of Boise Cascade, L.L.C. $BCC

QRG Capital Management Inc. cut its stake in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 89.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,315 shares of the construction company’s stock after selling 27,407 shares during the period. QRG Capital Management Inc.’s holdings in Boise Cascade were worth $256,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Fund Management S.A. bought a new stake in Boise Cascade in the 2nd quarter worth about $2,342,000. American Century Companies Inc. boosted its stake in shares of Boise Cascade by 4.5% in the 2nd quarter. American Century Companies Inc. now owns 1,281,435 shares of the construction company’s stock worth $111,254,000 after buying an additional 55,052 shares during the last quarter. Westwood Holdings Group Inc. grew its holdings in shares of Boise Cascade by 9.7% in the second quarter. Westwood Holdings Group Inc. now owns 1,645,026 shares of the construction company’s stock valued at $142,821,000 after acquiring an additional 145,721 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Boise Cascade by 12.5% during the second quarter. Public Employees Retirement System of Ohio now owns 39,811 shares of the construction company’s stock valued at $3,456,000 after acquiring an additional 4,414 shares during the last quarter. Finally, Wedge Capital Management L L P NC increased its position in shares of Boise Cascade by 16.0% during the third quarter. Wedge Capital Management L L P NC now owns 153,873 shares of the construction company’s stock valued at $11,897,000 after acquiring an additional 21,232 shares during the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Stock Down 1.5%

BCC opened at $84.25 on Friday. Boise Cascade, L.L.C. has a 12 month low of $65.14 and a 12 month high of $129.74. The company has a market cap of $3.12 billion, a PE ratio of 16.65 and a beta of 1.27. The company has a current ratio of 3.10, a quick ratio of 1.69 and a debt-to-equity ratio of 0.22. The company has a 50 day moving average of $76.37 and a 200 day moving average of $79.07.

Boise Cascade (NYSE:BCC) last posted its earnings results on Monday, November 3rd. The construction company reported $0.58 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.58. The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.64 billion. Boise Cascade had a return on equity of 9.00% and a net margin of 2.96%.The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.33 earnings per share. On average, sell-side analysts expect that Boise Cascade, L.L.C. will post 10.15 EPS for the current year.

Boise Cascade Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Monday, December 1st were paid a $0.22 dividend. The ex-dividend date was Monday, December 1st. This represents a $0.88 annualized dividend and a yield of 1.0%. Boise Cascade’s dividend payout ratio (DPR) is currently 17.39%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BCC. Wall Street Zen downgraded Boise Cascade from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. DA Davidson reissued a “buy” rating and issued a $95.00 price target on shares of Boise Cascade in a report on Thursday, November 20th. Weiss Ratings restated a “sell (d+)” rating on shares of Boise Cascade in a report on Monday, December 29th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Boise Cascade in a research report on Thursday, January 8th. Finally, Truist Financial increased their target price on shares of Boise Cascade from $88.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $101.83.

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.