Arrowstreet Capital Limited Partnership Makes New $4.41 Million Investment in Boise Cascade, L.L.C. $BCC

Key Points

• Arrowstreet Capital initiated a $4.41 million position in Boise Cascade, purchasing 58,161 shares and owning approximately 0.17% of the company. Institutional investors overall hold 96.18% of BCC’s shares.
• 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.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $92.80, compared with the stock’s reported opening price of $82.92.

Arrowstreet Capital Limited Partnership bought a new position in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 58,161 shares of the construction company's stock, valued at approximately $4,412,000. Arrowstreet Capital Limited Partnership owned about 0.17% of Boise Cascade as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its position 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 worth $29,000 after buying an additional 259 shares in the last quarter. Fifth Third Bancorp raised its holdings in Boise Cascade by 77.5% in 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. Advisory Services Network LLC bought a new position in Boise Cascade during the 3rd quarter valued at $38,000. UMB Bank n.a. boosted its stake 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 acquiring an additional 260 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in Boise Cascade by 5,866.7% during the 4th quarter. Signaturefd LLC now owns 537 shares of the construction company's stock valued at $40,000 after acquiring an additional 528 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company's stock.

Insider Activity

In other news, SVP Jill Twedt sold 6,070 shares of the company's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $66.45, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.42% of the company's stock.

Boise Cascade Stock Up 8.6%

Shares of Boise Cascade stock opened at $82.92 on Tuesday. The company has a current ratio of 2.77, a quick ratio of 1.37 and a debt-to-equity ratio of 0.24. The business's 50 day simple moving average is $74.08 and its 200-day simple moving average is $76.92. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 1.05 and a beta of 1.08. Boise Cascade, L.L.C. has a twelve month low of $65.00 and a twelve month high of $91.97.

Boise Cascade (NYSE:BCC - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The construction company reported $1.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.40. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.77 billion. Boise Cascade had a return on equity of 5.55% and a net margin of 1.73%.The business's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.64 EPS. Equities research analysts forecast that Boise Cascade, L.L.C. will post 3.83 earnings per share for the current year.

Boise Cascade Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Tuesday, September 1st will be paid a $0.23 dividend. The ex-dividend date is Tuesday, September 1st. This is a positive change from Boise Cascade's previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 1.1%. Boise Cascade's dividend payout ratio (DPR) is 31.08%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BCC. DA Davidson dropped their target price on shares of Boise Cascade from $95.00 to $92.00 and set a "buy" rating for the company in a research report on Wednesday, May 6th. Weiss Ratings raised shares of Boise Cascade from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, May 18th. Bank of America lifted their price target on Boise Cascade from $80.00 to $81.00 and gave the stock an "underperform" rating in a research note on Tuesday, July 14th. Zacks Research raised Boise Cascade from a "hold" rating to a "strong-buy" rating in a report on Friday, July 17th. Finally, Truist Financial set a $97.00 price objective on Boise Cascade in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Boise Cascade currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.80.

Boise Cascade 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.

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