Deutsche Bank AG Purchases Shares of 37,619 Boise Cascade, L.L.C. $BCC

Key Points

• Deutsche Bank acquired 37,619 shares of Boise Cascade in the second quarter, valued at approximately $2.92 million and representing about 0.11% of the company. Institutional investors collectively own 96.18% of BCC.
• Boise Cascade exceeded quarterly expectations, reporting EPS of $1.63 versus the $1.23 consensus and revenue of $1.83 billion, up 5.2% year over year. The company also raised its quarterly dividend to $0.23 per share.
• Analysts maintain a generally neutral outlook, with the stock carrying an average “Hold” rating and a consensus price target of $93.60, compared with a recent price of $79.83.

Deutsche Bank AG purchased a new stake in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 37,619 shares of the construction company's stock, valued at approximately $2,920,000. Deutsche Bank AG owned approximately 0.11% of Boise Cascade at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in BCC. Caitong International Asset Management Co. Ltd grew its position in Boise Cascade by 231.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company's stock worth $29,000 after buying an additional 259 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Boise Cascade by 77.5% in the 4th quarter. Fifth Third Bancorp now owns 410 shares of the construction company's stock valued at $30,000 after acquiring an additional 179 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Boise Cascade during the 3rd quarter valued at about $38,000. UMB Bank n.a. boosted its position in shares of Boise Cascade by 98.5% during the 4th 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 during the last quarter. Finally, iSAM Funds UK Ltd purchased a new position in shares of Boise Cascade during the third quarter worth about $44,000. Hedge funds and other institutional investors own 96.18% of the company's stock.

Boise Cascade Trading Down 1.5%

NYSE BCC opened at $79.83 on Thursday. Boise Cascade, L.L.C. has a fifty-two week low of $65.00 and a fifty-two week high of $91.97. 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 stock has a 50 day simple moving average of $78.72 and a two-hundred day simple moving average of $76.80. The stock has a market cap of $2.79 billion, a P/E ratio of 27.06, a price-to-earnings-growth ratio of 1.09 and a beta of 1.10.

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 (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.40. Boise Cascade had a return on equity of 5.41% and a net margin of 1.64%.The firm had revenue of $1.83 billion for the quarter, compared to analysts' expectations of $1.77 billion. During the same period in the previous year, the firm earned $1.64 earnings per share. The business's revenue was up 5.2% compared to the same quarter last year. On average, analysts forecast that Boise Cascade, L.L.C. will post 3.86 earnings per share for the current year.

Boise Cascade Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Tuesday, September 1st will be issued a $0.23 dividend. This is a boost from Boise Cascade's previous quarterly dividend of $0.22. The ex-dividend date is Tuesday, September 1st. This represents a $0.92 annualized dividend and a yield of 1.2%. Boise Cascade's dividend payout ratio (DPR) is currently 29.83%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BCC. Weiss Ratings raised shares of Boise Cascade from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, August 17th. Truist Financial set a $97.00 price target on shares of Boise Cascade in a report on Wednesday, May 6th. Bank of America raised 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. Zacks Research downgraded shares of Boise Cascade from a "strong-buy" rating to a "hold" rating in a report on Monday, August 17th. Finally, The Goldman Sachs Group increased their target price on Boise Cascade from $81.00 to $91.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $93.60.

Insider Buying and Selling

In other news, Director Kristopher J. Matula sold 1,930 shares of the firm'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 sale, the director directly owned 13,982 shares of the company's stock, valued at approximately $1,182,597.56. This trade represents a 12.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.42% of the company's stock.

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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