Peregrine Capital Management LLC Grows Stock Holdings in Boise Cascade, L.L.C. $BCC

Peregrine Capital Management LLC grew its holdings in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 1.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,218 shares of the construction company’s stock after buying an additional 1,296 shares during the quarter. Peregrine Capital Management LLC’s holdings in Boise Cascade were worth $6,444,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Boise Cascade by 120.7% in the first 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. RMG Wealth Management LLC purchased a new position in shares of Boise Cascade in the second quarter valued at $42,000. Blue Trust Inc. boosted its stake in shares of Boise Cascade by 28.6% in the second quarter. Blue Trust Inc. now owns 1,181 shares of the construction company’s stock valued at $103,000 after purchasing an additional 263 shares during the period. GAMMA Investing LLC boosted its stake in shares of Boise Cascade by 60.6% in the first quarter. GAMMA Investing LLC now owns 1,458 shares of the construction company’s stock valued at $143,000 after purchasing an additional 550 shares during the period. Finally, Magnetar Financial LLC purchased a new position in shares of Boise Cascade in the first quarter valued at $206,000. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Boise Cascade Trading Up 0.0%

BCC opened at $73.11 on Tuesday. The stock has a market capitalization of $2.73 billion, a PE ratio of 10.74, a P/E/G ratio of 5.58 and a beta of 1.27. The firm’s fifty day moving average price is $80.20 and its 200 day moving average price is $85.82. 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 12-month low of $70.00 and a 12-month high of $155.42.

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). The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.76 billion. Boise Cascade had a net margin of 4.00% and a return on equity of 12.26%. The company’s revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.84 earnings per share. As a group, research analysts expect that Boise Cascade, L.L.C. will post 10.15 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd were issued a $0.22 dividend. This is a boost from Boise Cascade’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.2%. Boise Cascade’s dividend payout ratio is 12.92%.

Insider Buying and Selling

In related news, EVP Troy Little sold 2,033 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $83.10, for a total value of $168,942.30. Following the sale, the executive vice president owned 12,701 shares of the company’s stock, valued at $1,055,453.10. This trade represents a 13.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeffrey Robert Strom sold 1,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $91.06, for a total transaction of $91,060.00. Following the completion of the transaction, the chief operating officer owned 37,026 shares of the company’s stock, valued at $3,371,587.56. This represents a 2.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,815 shares of company stock valued at $409,637 in the last quarter. Company insiders own 1.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BCC shares. 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. Weiss Ratings restated a “hold (c-)” rating on shares of Boise Cascade in a research note on Wednesday, October 8th. Bank of America decreased their target price on shares of Boise Cascade from $111.00 to $107.00 and set a “buy” rating for the company in a research note on Wednesday, July 9th. The Goldman Sachs Group decreased their target price on shares of Boise Cascade from $96.00 to $82.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. Finally, DA Davidson decreased their target price on shares of Boise Cascade from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Friday. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $102.50.

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.