Atlas FRM LLC Makes New Investment in Boise Cascade, L.L.C. $BCC

Key Points

• Atlas FRM LLC acquired 445,000 shares of Boise Cascade during the second quarter, valued at approximately $34.5 million, giving it a 1.28% stake and making BCC its 19th-largest holding. Institutional investors collectively own 96.18% of the stock.
• Boise Cascade reported quarterly EPS of $1.63, beating estimates of $1.23, while revenue rose 5.2% year over year to $1.83 billion. The company also increased its quarterly dividend to $0.23 per share, or $0.92 annually.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $93.60; BCC recently traded at $82.56.

Atlas FRM LLC purchased a new stake in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 445,000 shares of the construction company's stock, valued at approximately $34,545,350,000. Boise Cascade accounts for 1.5% of Atlas FRM LLC's investment portfolio, making the stock its 19th biggest position. Atlas FRM LLC owned about 1.28% of Boise Cascade at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in BCC. BlackRock Inc. bought a new position in Boise Cascade during the 2nd quarter worth approximately $463,729,000. Wellington Management Group LLP boosted its position in shares of Boise Cascade by 19.8% during the third quarter. Wellington Management Group LLP now owns 3,268,407 shares of the construction company's stock worth $252,713,000 after purchasing an additional 539,962 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Boise Cascade by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,325,781 shares of the construction company's stock valued at $176,410,000 after buying an additional 46,561 shares during the period. State Street Corp grew its holdings in shares of Boise Cascade by 0.3% in the 4th quarter. State Street Corp now owns 1,472,071 shares of the construction company's stock valued at $108,344,000 after buying an additional 3,817 shares during the period. Finally, Norges Bank bought a new stake in shares of Boise Cascade in the 4th quarter valued at $42,146,000. 96.18% of the stock is owned by institutional investors and hedge funds.

Boise Cascade Trading Up 0.1%

Shares of NYSE:BCC opened at $82.56 on Monday. The company's 50-day moving average price is $78.13 and its two-hundred day moving average price is $76.95. 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, L.L.C. has a one year low of $65.00 and a one year high of $91.97. The stock has a market capitalization of $2.88 billion, a PE ratio of 27.99, a price-to-earnings-growth ratio of 1.11 and a beta of 1.10.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The construction company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.40. The company had revenue of $1.83 billion during 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%.Boise Cascade's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.64 EPS. On average, equities analysts forecast that Boise Cascade, L.L.C. will post 3.86 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The business also recently declared 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. 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%. The ex-dividend date is Tuesday, September 1st. Boise Cascade's dividend payout ratio is 29.83%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. The Goldman Sachs Group raised their price objective on Boise Cascade from $81.00 to $91.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. DA Davidson boosted their target price on Boise Cascade from $92.00 to $99.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Bank of America increased their price target on Boise Cascade from $80.00 to $81.00 and gave the stock an "underperform" rating in a report on Tuesday, July 14th. Truist Financial set a $97.00 price target on Boise Cascade in a research report on Wednesday, May 6th. Finally, Zacks Research cut Boise Cascade from a "strong-buy" rating to a "hold" rating in a report on Monday, August 17th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $93.60.

Insiders Place Their Bets

In other news, Director Kristopher J. Matula sold 1,930 shares of the company's stock in a transaction that occurred 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 sale, the director owned 13,982 shares in the company, valued at $1,182,597.56. This represents a 12.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.42% of the stock is currently owned by corporate insiders.

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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