Boise Cascade, L.L.C. $BCC Shares Acquired by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP boosted its Boise Cascade stake by 2.0% in the first quarter, owning 2,325,781 shares worth about $176.4 million and representing roughly 6.49% of the company.
• Boise Cascade has continued to attract significant institutional investor interest, with hedge funds and other institutions holding 96.18% of the stock overall.
• The company recently posted better-than-expected quarterly results, with EPS of $0.50 versus the $0.43 consensus and revenue of $1.50 billion, while analysts currently rate the stock a consensus “Moderate Buy” with a $92.80 target price.

Dimensional Fund Advisors LP increased its position in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 2.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,325,781 shares of the construction company's stock after purchasing an additional 46,561 shares during the period. Dimensional Fund Advisors LP owned approximately 6.49% of Boise Cascade worth $176,410,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Boise Cascade during the 4th quarter worth approximately $42,146,000. Wellington Management Group LLP lifted its holdings in shares of Boise Cascade by 19.8% in the 3rd quarter. Wellington Management Group LLP now owns 3,268,407 shares of the construction company's stock valued at $252,713,000 after buying an additional 539,962 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Boise Cascade by 214,282.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 420,189 shares of the construction company's stock valued at $30,926,000 after buying an additional 419,993 shares during the period. Concentric Capital Strategies LP boosted its stake in shares of Boise Cascade by 202.0% in the fourth quarter. Concentric Capital Strategies LP now owns 425,179 shares of the construction company's stock valued at $31,293,000 after buying an additional 284,406 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake in shares of Boise Cascade by 377.6% in the third quarter. Two Sigma Investments LP now owns 292,556 shares of the construction company's stock valued at $22,620,000 after buying an additional 231,302 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company's stock.

Wall Street Analysts Forecast Growth

BCC has been the topic of a number of recent analyst reports. Bank of America upped their price objective 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 target price on Boise Cascade in a report on Wednesday, May 6th. Zacks Research upgraded shares of Boise Cascade from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 17th. Weiss Ratings raised shares of Boise Cascade from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, May 18th. Finally, DA Davidson cut their price target on shares of Boise Cascade from $95.00 to $92.00 and set a "buy" rating for the company in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $92.80.

Insider Buying and Selling at Boise Cascade

In other news, SVP Jill Twedt sold 6,070 shares of the firm's stock in a transaction on Wednesday, May 13th. The stock was 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 $1,763,915.25. This trade represents a 18.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.42% of the stock is currently owned by corporate insiders.

Boise Cascade Stock Performance

BCC opened at $77.89 on Friday. The stock has a market cap of $2.74 billion, a P/E ratio of 26.31, a P/E/G ratio of 1.07 and a beta of 1.08. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.77 and a quick ratio of 1.37. The stock's 50 day simple moving average is $72.70 and its 200 day simple moving average is $76.96. 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 quarterly earnings data on Monday, May 4th. The construction company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.07. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.46 billion. Boise Cascade had a return on equity of 5.55% and a net margin of 1.73%.Boise Cascade's quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the business posted $1.06 EPS. As a group, equities analysts anticipate that Boise Cascade, L.L.C. will post 3.83 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Monday, June 1st were issued a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.88 annualized dividend and a yield of 1.1%. Boise Cascade's dividend payout ratio is 29.73%.

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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