Norges Bank Acquires New Position in Boise Cascade, L.L.C. $BCC

Norges Bank acquired a new stake in shares of Boise Cascade, L.L.C. (NYSE:BCCFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 572,639 shares of the construction company’s stock, valued at approximately $42,146,000.

Several other institutional investors have also made changes to their positions in BCC. SG Americas Securities LLC lifted its stake in Boise Cascade by 890.3% in the fourth quarter. SG Americas Securities LLC now owns 34,977 shares of the construction company’s stock valued at $2,574,000 after acquiring an additional 31,445 shares during the last quarter. Cinctive Capital Management LP acquired a new stake in shares of Boise Cascade in the third quarter worth about $4,214,000. Dimensional Fund Advisors LP lifted its position in shares of Boise Cascade by 2.6% in the third quarter. Dimensional Fund Advisors LP now owns 2,280,347 shares of the construction company’s stock worth $176,313,000 after buying an additional 58,131 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Boise Cascade by 7.9% in the third quarter. JPMorgan Chase & Co. now owns 347,301 shares of the construction company’s stock worth $26,853,000 after buying an additional 25,452 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Boise Cascade by 28.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 44,561 shares of the construction company’s stock worth $3,280,000 after buying an additional 9,825 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Jill Twedt sold 6,070 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $66.45, for a total value of $403,351.50. Following the completion of the transaction, the senior vice president owned 26,545 shares in the company, valued at approximately $1,763,915.25. This represents a 18.61% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.42% of the company’s stock.

Boise Cascade Trading Down 0.1%

Boise Cascade stock opened at $68.00 on Tuesday. The business has a 50 day moving average price of $74.03 and a two-hundred day moving average price of $76.86. The company has a quick ratio of 1.37, a current ratio of 2.77 and a debt-to-equity ratio of 0.24. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 1.02 and a beta of 1.09. Boise Cascade, L.L.C. has a 12 month low of $65.00 and a 12 month high of $95.00.

Boise Cascade (NYSE:BCCGet Free Report) last posted its quarterly earnings results on Monday, May 4th. The construction company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.43 by $0.07. Boise Cascade had a return on equity of 5.55% and a net margin of 1.73%.The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the firm posted $1.06 EPS. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, equities analysts forecast that Boise Cascade, L.L.C. will post 3.67 EPS for the current year.

Boise Cascade Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Monday, June 1st will be paid a $0.22 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.3%. Boise Cascade’s dividend payout ratio is currently 29.73%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BCC. Truist Financial set a $97.00 price objective on shares of Boise Cascade in a research note on Wednesday, May 6th. Wall Street Zen raised Boise Cascade from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Zacks Research raised Boise Cascade from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Weiss Ratings raised Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Finally, The Goldman Sachs Group boosted their price objective on Boise Cascade from $85.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $98.00.

Check Out Our Latest Analysis on Boise Cascade

Boise Cascade Profile

(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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