Allianz Asset Management GmbH Has $15.76 Million Holdings in Boise Cascade, L.L.C. $BCC

Key Points

• Allianz Asset Management increased its Boise Cascade stake by 44.6% in the second quarter, bringing its holdings to 202,949 shares valued at approximately $15.76 million. Institutional investors and hedge funds collectively own 96.18% of BCC.
• Boise Cascade exceeded quarterly expectations, reporting earnings of $1.63 per share on $1.83 billion in revenue, while revenue rose 5.2% year over year. The company also raised its quarterly dividend to $0.23 per share, equivalent to a 1.2% yield.
• BCC was trading at $76.82, below analysts’ consensus price target of $93.60; however, analyst sentiment remained mixed, with three Buy, three Hold and one Sell rating, resulting in an overall consensus rating of Hold.

Allianz Asset Management GmbH lifted its position in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 44.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 202,949 shares of the construction company's stock after buying an additional 62,597 shares during the quarter. Allianz Asset Management GmbH owned about 0.58% of Boise Cascade worth $15,755,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd boosted its stake in shares of 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. Advisory Services Network LLC acquired a new position in shares of Boise Cascade during the 3rd quarter worth approximately $38,000. UMB Bank n.a. lifted its stake in shares of Boise Cascade by 98.5% during the 4th quarter. UMB Bank n.a. now owns 524 shares of the construction company's stock worth $39,000 after buying an additional 260 shares during the last quarter. iSAM Funds UK Ltd acquired a new stake in shares of Boise Cascade during the 3rd quarter worth about $44,000. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of Boise Cascade by 662.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 648 shares of the construction company's stock worth $50,000 after buying an additional 563 shares during the period. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Boise Cascade Stock Down 3.0%

NYSE BCC opened at $76.82 on Wednesday. The company has a current ratio of 2.71, a quick ratio of 1.31 and a debt-to-equity ratio of 0.24. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 1.07 and a beta of 1.08. The company has a 50 day moving average of $78.94 and a 200-day moving average of $76.15. 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 released its earnings results on Monday, August 3rd. The construction company reported $1.63 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.40. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.77 billion. Boise Cascade had a return on equity of 5.41% and a net margin of 1.64%.The company's revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.64 EPS. On average, equities research analysts expect that Boise Cascade, L.L.C. will post 3.86 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Tuesday, September 1st will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.2%. This is a boost from Boise Cascade's previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, September 1st. Boise Cascade's payout ratio is 31.19%.

Insider Activity

In other Boise Cascade news, Director Kristopher Matula sold 1,930 shares of Boise Cascade stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total value of $163,239.40. Following the transaction, the director owned 13,982 shares in the company, valued at $1,182,597.56. The trade was a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jill Twedt sold 1,250 shares of the business's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $79.40, for a total value of $99,250.00. Following the transaction, the senior vice president directly owned 25,295 shares of the company's stock, valued at approximately $2,008,423. The trade was a 4.71% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BCC. The Goldman Sachs Group upped their price target on shares of Boise Cascade from $81.00 to $91.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Zacks Research downgraded shares of Boise Cascade from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 17th. Weiss Ratings upgraded Boise Cascade from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, August 17th. Wall Street Zen raised Boise Cascade from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Bank of America boosted their price target on Boise Cascade from $80.00 to $81.00 and gave the company an "underperform" rating in a research note on Tuesday, July 14th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $93.60.

Boise Cascade Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.