Canada Pension Plan Investment Board Makes New $2.28 Million Investment in Boise Cascade, L.L.C. $BCC

Key Points

• Canada Pension Plan Investment Board acquired 29,400 Boise Cascade shares worth approximately $2.28 million, while institutional investors collectively own 96.18% of the company.
• Boise Cascade exceeded quarterly expectations with $1.63 EPS versus the $1.23 consensus and $1.83 billion in revenue; analysts maintain a consensus “Hold” rating with an average $93.60 price target.
• The company raised its quarterly dividend from $0.22 to $0.23 per share, equating to an annualized dividend of $0.92 and a 1.2% yield.

Canada Pension Plan Investment Board acquired a new stake in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 29,400 shares of the construction company's stock, valued at approximately $2,282,000. Canada Pension Plan Investment Board owned approximately 0.08% of Boise Cascade at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BCC. BlackRock Inc. purchased a new position in shares of Boise Cascade in the second quarter worth approximately $463,729,000. Wellington Management Group LLP lifted its position 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 acquiring an additional 539,962 shares in the last quarter. Dimensional Fund Advisors LP lifted its position 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 acquiring an additional 46,561 shares in the last quarter. State Street Corp lifted its position 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 acquiring an additional 3,817 shares in the last quarter. Finally, Norges Bank acquired a new position in Boise Cascade in the 4th quarter worth approximately $42,146,000. 96.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BCC. The Goldman Sachs Group boosted their target price 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 cut Boise Cascade from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 17th. DA Davidson raised their target price on Boise Cascade from $92.00 to $99.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Bank of America lifted their price target on Boise Cascade from $80.00 to $81.00 and gave the company an "underperform" rating in a report on Tuesday, July 14th. Finally, Weiss Ratings raised Boise Cascade from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, August 17th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Boise Cascade presently has a consensus rating of "Hold" and an average price target of $93.60.

Boise Cascade Stock Performance

Shares of BCC opened at $78.52 on Monday. The company has a market capitalization of $2.74 billion, a PE ratio of 26.62, a PEG ratio of 1.06 and a beta of 1.10. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.31 and a current ratio of 2.71. The company's 50 day moving average price is $78.88 and its 200 day moving average price is $76.64. Boise Cascade, L.L.C. has a 52 week low of $65.00 and a 52 week 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 (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.40. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.77 billion. Boise Cascade had a net margin of 1.64% and a return on equity of 5.41%. The company's revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.64 EPS. 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 declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Tuesday, September 1st will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend 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 dividend payout ratio (DPR) is currently 29.83%.

Insider Buying and Selling at Boise Cascade

In other Boise Cascade news, 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 owned 25,295 shares in the company, valued at $2,008,423. The trade was a 4.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kristopher J. Matula sold 1,930 shares of the business's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total value of $163,239.40. Following the completion of the transaction, the director owned 13,982 shares in the company, valued at $1,182,597.56. This trade represents a 12.13% decrease in their position. The SEC filing for this sale provides additional information. 1.42% of the stock is currently owned by company insiders.

About Boise Cascade

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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