20,300 Shares in Boise Cascade, L.L.C. $BCC Purchased by Caisse de depot et placement du Quebec

Key Points

• Caisse de dépôt et placement du Québec initiated a 20,300-share position in Boise Cascade valued at approximately $1.58 million. Institutional investors collectively own 96.18% of the company.
• Boise Cascade reported quarterly EPS of $1.63, beating estimates by $0.40, while revenue rose 5.2% year over year to $1.83 billion. The company also increased its quarterly dividend to $0.23 per share, implying a 1.2% yield.
• Analyst sentiment remains mixed, with an average rating of “Hold” and an average price target of $93.60 versus the stock’s reported $78.52 price. Two insiders recently sold shares, while the stock has traded between $65.00 and $91.97 over the past year.

Caisse de depot et placement du Quebec bought a new position in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 20,300 shares of the construction company's stock, valued at approximately $1,576,000. Caisse de depot et placement du Quebec owned 0.06% of Boise Cascade as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in BCC. Cerity Partners LLC lifted its holdings in shares of Boise Cascade by 3.8% in the second quarter. Cerity Partners LLC now owns 3,274 shares of the construction company's stock worth $284,000 after buying an additional 121 shares in the last quarter. Raymond James Financial Inc. grew its stake in Boise Cascade by 1.0% during the second quarter. Raymond James Financial Inc. now owns 13,219 shares of the construction company's stock valued at $1,148,000 after acquiring an additional 126 shares in the last quarter. Fifth Third Bancorp grew its stake in Boise Cascade by 77.5% during the fourth quarter. Fifth Third Bancorp now owns 410 shares of the construction company's stock valued at $30,000 after acquiring an additional 179 shares in the last quarter. ProShare Advisors LLC increased its holdings in Boise Cascade by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 7,329 shares of the construction company's stock worth $539,000 after acquiring an additional 226 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Boise Cascade by 231.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company's stock worth $29,000 after acquiring an additional 259 shares during the period. Hedge funds and other institutional investors own 96.18% of the company's stock.

Boise Cascade Stock Down 0.3%

BCC stock opened at $78.52 on Friday. The company's 50 day moving average is $78.88 and its 200 day moving average is $76.73. The stock has a market cap 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 company has a current ratio of 2.71, a quick ratio of 1.31 and a debt-to-equity ratio of 0.24. Boise Cascade, L.L.C. has a 1-year low of $65.00 and a 1-year high of $91.97.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its earnings results on Monday, August 3rd. The construction company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.40. Boise Cascade had a net margin of 1.64% and a return on equity of 5.41%. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the business posted $1.64 earnings per share. Boise Cascade's revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts predict that Boise Cascade, L.L.C. will post 3.86 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from Boise Cascade's previous quarterly dividend of $0.22. Boise Cascade's payout ratio is presently 29.83%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. DA Davidson increased their target price on shares of Boise Cascade from $92.00 to $99.00 and gave the stock a "buy" rating in a research note 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. The Goldman Sachs Group increased their price objective on Boise Cascade from $81.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Wall Street Zen raised Boise Cascade from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Finally, Truist Financial set a $97.00 price objective on Boise Cascade in a research note on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $93.60.

Insiders Place Their Bets

In related news, SVP Jill Twedt sold 1,250 shares of the company's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $79.40, for a total value of $99,250.00. Following the completion of the transaction, the senior vice president directly owned 25,295 shares in the company, valued at approximately $2,008,423. The trade was a 4.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kristopher J. Matula sold 1,930 shares of the company's stock in a transaction on 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 transaction, the director owned 13,982 shares of the company's stock, valued at $1,182,597.56. This trade represents a 12.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.42% of the company's stock.

About Boise Cascade

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.

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