Boise Cascade, L.L.C. $BCC Shares Acquired by First Eagle Investment Management LLC

Key Points

• First Eagle Investment Management increased its Boise Cascade stake by 13.4% in the second quarter, purchasing 22,900 additional shares and bringing its holdings to 193,208 shares valued at approximately $15 million. Institutional investors and hedge funds collectively own 96.18% of BCC.
• Boise Cascade reported quarterly earnings of $1.63 per share, exceeding the $1.23 consensus estimate, while revenue rose 5.2% year over year to $1.83 billion. Analysts expect full-year earnings of $3.86 per share.
• The company raised its quarterly dividend from $0.22 to $0.23 per share, equivalent to an annualized $0.92 dividend and a 1.2% yield. BCC has a consensus “Hold” rating and an average analyst price target of $93.60.

First Eagle Investment Management LLC lifted its stake in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 13.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 193,208 shares of the construction company's stock after purchasing an additional 22,900 shares during the period. First Eagle Investment Management LLC owned about 0.55% of Boise Cascade worth $14,999,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BCC. Caitong International Asset Management Co. Ltd raised its position in Boise Cascade by 231.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company's stock valued at $29,000 after purchasing an additional 259 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Boise Cascade by 77.5% during the fourth quarter. Fifth Third Bancorp now owns 410 shares of the construction company's stock worth $30,000 after buying an additional 179 shares during the period. Advisory Services Network LLC purchased a new stake in shares of Boise Cascade during the third quarter worth approximately $38,000. UMB Bank n.a. raised its holdings in Boise Cascade by 98.5% in the fourth 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 in the last quarter. Finally, iSAM Funds UK Ltd acquired a new stake in Boise Cascade in the third quarter valued at approximately $44,000. 96.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Boise Cascade

In related news, Director Kristopher Matula sold 1,930 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total value of $163,239.40. Following the transaction, the director directly owned 13,982 shares of the company's stock, valued at $1,182,597.56. This trade represents a 12.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Jill Twedt sold 1,250 shares of Boise Cascade stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $79.40, for a total transaction of $99,250.00. Following the sale, the senior vice president owned 25,295 shares in the company, valued at $2,008,423. This represents a 4.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.42% of the stock is currently owned by insiders.

Boise Cascade Trading Up 0.1%

BCC opened at $79.27 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.31 and a current ratio of 2.71. Boise Cascade, L.L.C. has a one year low of $65.00 and a one year high of $91.97. The company has a market cap of $2.77 billion, a P/E ratio of 26.87, a PEG ratio of 1.07 and a beta of 1.08. The business's 50-day simple moving average is $78.95 and its 200-day simple moving average is $76.26.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its earnings results on Monday, August 3rd. The construction company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.40. The firm 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%.The firm's revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.64 earnings per share. As a group, equities research analysts expect 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 given a dividend of $0.23 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.92 annualized dividend and a dividend yield of 1.2%. This is a boost from Boise Cascade's previous quarterly dividend of $0.22. Boise Cascade's payout ratio is presently 31.19%.

Analyst Upgrades and Downgrades

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

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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