Quent Capital LLC Sells 1,000 Shares of Boise Cascade (NYSE:BCC)

Quent Capital LLC decreased its stake in Boise Cascade (NYSE:BCC) by 5.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,945 shares of the construction company’s stock after selling 1,000 shares during the period. Quent Capital LLC’s holdings in Boise Cascade were worth $1,531,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Neo Ivy Capital Management bought a new position in shares of Boise Cascade in the second quarter valued at about $25,000. CoreCap Advisors LLC acquired a new position in Boise Cascade during the 4th quarter worth approximately $28,000. Dark Forest Capital Management LP raised its stake in shares of Boise Cascade by 12,950.0% during the 4th quarter. Dark Forest Capital Management LP now owns 522 shares of the construction company’s stock worth $36,000 after purchasing an additional 518 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Boise Cascade by 94.4% in the 4th quarter. Quadrant Capital Group LLC now owns 589 shares of the construction company’s stock valued at $40,000 after acquiring an additional 286 shares during the period. Finally, WealthPLAN Partners LLC bought a new position in Boise Cascade during the 1st quarter worth $65,000. Institutional investors and hedge funds own 91.75% of the company’s stock.

Boise Cascade Stock Performance

Shares of NYSE:BCC traded down $3.20 during midday trading on Friday, reaching $100.09. 1,304,470 shares of the company traded hands, compared to its average volume of 309,690. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of 6.87 and a beta of 1.57. The company has a quick ratio of 2.39, a current ratio of 3.44 and a debt-to-equity ratio of 0.22. The firm’s fifty day moving average price is $104.30 and its two-hundred day moving average price is $82.95. Boise Cascade has a 12 month low of $55.14 and a 12 month high of $112.58.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Tuesday, August 1st. The construction company reported $3.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $1.13. Boise Cascade had a return on equity of 27.77% and a net margin of 8.12%. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the business earned $5.49 EPS. The company’s revenue for the quarter was down 20.3% compared to the same quarter last year. On average, equities analysts expect that Boise Cascade will post 11.75 earnings per share for the current year.

Boise Cascade Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, August 31st. This is a boost from Boise Cascade’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a yield of 0.80%. Boise Cascade’s dividend payout ratio is currently 5.49%.

Analyst Ratings Changes

Several analysts recently weighed in on BCC shares. BMO Capital Markets raised their price objective on Boise Cascade from $90.00 to $115.00 and gave the company a “market perform” rating in a research note on Wednesday, August 2nd. Truist Financial raised their price objective on Boise Cascade from $100.00 to $129.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. StockNews.com initiated coverage on Boise Cascade in a research report on Thursday, August 17th. They set a “buy” rating on the stock. The Goldman Sachs Group lifted their target price on Boise Cascade from $96.00 to $108.00 and gave the company a “neutral” rating in a research report on Wednesday, August 2nd. Finally, Bank of America raised Boise Cascade from an “underperform” rating to a “neutral” rating in a research report on Monday, July 10th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $103.00.

Insider Activity at Boise Cascade

In other news, Director Sue Ying Taylor sold 300 shares of Boise Cascade stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $104.92, for a total value of $31,476.00. Following the sale, the director now directly owns 9,642 shares in the company, valued at approximately $1,011,638.64. The sale was disclosed in a filing with the SEC, which is available through this link. In other Boise Cascade news, Director Sue Ying Taylor sold 300 shares of Boise Cascade stock in a transaction on Friday, August 25th. The stock was sold at an average price of $104.92, for a total transaction of $31,476.00. Following the completion of the transaction, the director now owns 9,642 shares in the company, valued at $1,011,638.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kristopher J. Matula sold 8,633 shares of Boise Cascade stock in a transaction on Monday, August 28th. The shares were sold at an average price of $107.50, for a total value of $928,047.50. Following the transaction, the director now owns 14,172 shares of the company’s stock, valued at approximately $1,523,490. The disclosure for this sale can be found here. Insiders sold 18,968 shares of company stock worth $2,045,908 in the last ninety days. 0.98% of the stock is owned by company insiders.

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 lumber products.