Hexagon Capital Partners LLC Decreases Stock Holdings in Boise Cascade (NYSE:BCC)

Hexagon Capital Partners LLC decreased its holdings in Boise Cascade (NYSE:BCC) by 17.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 610 shares of the construction company’s stock after selling 133 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Boise Cascade were worth $94,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of BCC. Leuthold Group LLC increased its holdings in Boise Cascade by 10.0% in the 4th quarter. Leuthold Group LLC now owns 25,252 shares of the construction company’s stock worth $3,267,000 after acquiring an additional 2,299 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Boise Cascade by 1,809.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 12,659 shares of the construction company’s stock worth $1,638,000 after acquiring an additional 11,996 shares in the last quarter. Jackson Creek Investment Advisors LLC purchased a new stake in Boise Cascade in the 4th quarter worth approximately $1,200,000. Vanguard Group Inc. increased its holdings in Boise Cascade by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 4,709,276 shares of the construction company’s stock worth $609,192,000 after acquiring an additional 35,963 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in Boise Cascade by 54.2% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 58,919 shares of the construction company’s stock worth $7,596,000 after acquiring an additional 20,712 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Price Performance

BCC stock traded down $1.46 during midday trading on Monday, hitting $117.76. The company’s stock had a trading volume of 375,048 shares, compared to its average volume of 313,040. Boise Cascade has a 12 month low of $87.32 and a 12 month high of $154.67. The company has a quick ratio of 2.05, a current ratio of 3.24 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of 9.57 and a beta of 1.50. The company has a 50 day moving average of $132.02 and a two-hundred day moving average of $134.61.

Boise Cascade (NYSE:BCC) last posted its earnings results on Monday, May 6th. The construction company reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.31. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.56 billion. Boise Cascade had a return on equity of 22.00% and a net margin of 7.08%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.43 EPS. On average, analysts expect that Boise Cascade will post 10.84 EPS for the current year.

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a dividend of $0.20 per share. The ex-dividend date was Monday, June 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.68%. Boise Cascade’s dividend payout ratio is currently 6.50%.

Insider Activity

In other news, EVP Jeffrey Robert Strom sold 2,500 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $135.00, for a total transaction of $337,500.00. Following the completion of the transaction, the executive vice president now directly owns 43,353 shares in the company, valued at approximately $5,852,655. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Jeffrey Robert Strom sold 2,500 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $135.00, for a total value of $337,500.00. Following the completion of the sale, the executive vice president now directly owns 43,353 shares in the company, valued at $5,852,655. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jill Twedt sold 1,852 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $135.00, for a total value of $250,020.00. Following the completion of the sale, the senior vice president now owns 37,437 shares of the company’s stock, valued at $5,053,995. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,352 shares of company stock worth $587,520. 1.05% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently issued reports on BCC. Truist Financial increased their target price on shares of Boise Cascade from $156.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. StockNews.com upgraded Boise Cascade from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $131.75.

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.