Hsbc Holdings PLC Acquires New Position in Boise Cascade, L.L.C. $BCC

Hsbc Holdings PLC acquired a new position in shares of Boise Cascade, L.L.C. (NYSE:BCCFree Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 20,643 shares of the construction company’s stock, valued at approximately $1,616,000. Hsbc Holdings PLC owned 0.06% of Boise Cascade as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd grew its holdings in shares of Boise Cascade by 231.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock valued at $29,000 after purchasing an additional 259 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Boise Cascade by 77.5% in the 4th quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock worth $30,000 after purchasing an additional 179 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Boise Cascade in the 3rd quarter worth approximately $38,000. UMB Bank n.a. boosted its position in Boise Cascade by 98.5% during the 4th quarter. UMB Bank n.a. now owns 524 shares of the construction company’s stock valued at $39,000 after purchasing an additional 260 shares during the period. Finally, iSAM Funds UK Ltd acquired a new position in Boise Cascade during the 3rd quarter valued at approximately $44,000. Institutional investors own 96.18% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Jill Twedt sold 1,250 shares of Boise Cascade stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $79.40, for a total transaction of $99,250.00. Following the sale, the senior vice president directly owned 25,295 shares in the company, valued at $2,008,423. The trade was a 4.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kristopher J. Matula sold 1,930 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total transaction of $163,239.40. Following the completion of the sale, the director directly owned 13,982 shares of the company’s stock, valued at $1,182,597.56. The trade was a 12.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.42% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BCC. DA Davidson increased their target price on Boise Cascade from $92.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Weiss Ratings raised shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 17th. Zacks Research lowered shares of Boise Cascade from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. The Goldman Sachs Group increased their price objective on shares of Boise Cascade from $81.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Finally, Wall Street Zen upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $93.60.

Check Out Our Latest Report on Boise Cascade

Boise Cascade Stock Performance

Shares of BCC stock opened at $78.52 on Monday. Boise Cascade, L.L.C. has a 12-month low of $65.00 and a 12-month high of $91.97. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 1.06 and a beta of 1.10. The business has a 50 day simple moving average of $78.88 and a 200 day simple moving average of $76.64. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.71 and a quick ratio of 1.31.

Boise Cascade (NYSE:BCCGet Free Report) last posted its earnings results on Monday, August 3rd. The construction company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.23 by $0.40. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Boise Cascade had a return on equity of 5.41% and a net margin of 1.64%.The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $1.64 EPS. On average, equities research analysts anticipate that Boise Cascade, L.L.C. will post 3.86 EPS for the current year.

Boise Cascade Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.2%. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, September 1st. Boise Cascade’s dividend payout ratio is 31.19%.

About Boise Cascade

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Boise Cascade (NYSE:BCC)

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