Carnegie Lake Advisors LLC Buys Shares of 16,500 Boise Cascade, L.L.C. $BCC

Key Points

• Carnegie Lake Advisors initiated a new position in Boise Cascade, buying 16,500 shares worth about $1.214 million in the fourth quarter.
• Boise Cascade reported better-than-expected Q1 results, with EPS of $0.50 versus $0.43 expected and revenue of $1.50 billion topping estimates, though revenue still fell 2.5% year over year.
• The company declared a quarterly dividend of $0.22 per share, payable June 17, and analysts currently rate the stock a Moderate Buy with an average price target of $98.00.

Carnegie Lake Advisors LLC bought a new stake in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,500 shares of the construction company's stock, valued at approximately $1,214,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd increased its position in Boise Cascade by 231.3% during 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 during the period. Fifth Third Bancorp increased its position in Boise Cascade by 77.5% during the 4th quarter. Fifth Third Bancorp now owns 410 shares of the construction company's stock valued at $30,000 after purchasing an additional 179 shares during the period. Hantz Financial Services Inc. increased its position in Boise Cascade by 1,071.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 492 shares of the construction company's stock valued at $38,000 after purchasing an additional 450 shares during the period. Advisory Services Network LLC acquired a new stake in Boise Cascade during the 3rd quarter valued at approximately $38,000. Finally, Signaturefd LLC increased its position 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 purchasing an additional 528 shares during the period. Institutional investors and hedge funds own 96.18% of the company's stock.

Insider Activity

In related news, SVP Jill Twedt sold 6,070 shares of the 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 transaction, the senior vice president directly owned 26,545 shares in the company, valued at $1,763,915.25. This trade represents a 18.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.42% of the stock is currently owned by corporate insiders.

Boise Cascade Price Performance

Shares of BCC opened at $70.50 on Friday. Boise Cascade, L.L.C. has a 12-month low of $65.00 and a 12-month high of $95.00. The business's fifty day moving average is $74.50 and its 200 day moving average is $76.85. The company has a quick ratio of 1.37, a current ratio of 2.77 and a debt-to-equity ratio of 0.24. The stock has a market cap of $2.48 billion, a P/E ratio of 23.82, a P/E/G ratio of 1.05 and a beta of 1.15.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its earnings results on Monday, May 4th. The construction company reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.07. Boise Cascade had a return on equity of 5.55% and a net margin of 1.73%.The company had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.46 billion. During the same period last year, the business earned $1.06 EPS. Boise Cascade's quarterly revenue was down 2.5% compared to the same quarter last year. Sell-side analysts anticipate that Boise Cascade, L.L.C. will post 3.67 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Monday, June 1st will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, June 1st. Boise Cascade's dividend payout ratio (DPR) is currently 29.73%.

Analysts Set New Price Targets

A number of research firms have issued reports on BCC. Zacks Research upgraded Boise Cascade from a "strong sell" rating to a "hold" rating in a report on Wednesday, May 6th. The Goldman Sachs Group increased their price target on Boise Cascade from $85.00 to $94.00 and gave the stock a "neutral" rating in a report on Wednesday, February 25th. Wall Street Zen upgraded Boise Cascade from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. DA Davidson cut their price target on Boise Cascade from $95.00 to $92.00 and set a "buy" rating on the stock in a report on Wednesday, May 6th. Finally, Weiss Ratings upgraded Boise Cascade from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, May 18th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $98.00.

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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