Jefferies Financial Group Inc. Invests $1.49 Million in Boise Cascade, L.L.C. $BCC

Key Points

• Jefferies Financial Group acquired 19,210 Boise Cascade shares worth approximately $1.49 million, representing about 0.06% of the company. Institutional investors collectively own 96.18% of Boise Cascade.
• Boise Cascade exceeded quarterly expectations, reporting $1.63 in EPS versus the $1.23 consensus estimate and $1.83 billion in revenue, up 5.2% year over year.
• The company raised its quarterly dividend to $0.23 per share, equating to an annualized $0.92 payout and a 1.2% yield. Analysts maintain a consensus “Hold” rating with an average price target of $93.60.

Jefferies Financial Group Inc. acquired a new position in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 19,210 shares of the construction company's stock, valued at approximately $1,491,000. Jefferies Financial Group Inc. owned approximately 0.06% of Boise Cascade as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd raised its holdings in shares of 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 acquiring an additional 259 shares in the last quarter. Fifth Third Bancorp grew its holdings 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 purchasing an additional 179 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Boise Cascade in the third quarter worth approximately $38,000. UMB Bank n.a. increased its position in shares of Boise Cascade by 98.5% in the fourth quarter. UMB Bank n.a. now owns 524 shares of the construction company's stock worth $39,000 after purchasing an additional 260 shares during the last quarter. Finally, iSAM Funds UK Ltd purchased a new stake in Boise Cascade in the third quarter valued at approximately $44,000. Institutional investors own 96.18% of the company's stock.

Boise Cascade Price Performance

Shares of Boise Cascade stock opened at $78.52 on Friday. The company's fifty day simple moving average is $78.88 and its two-hundred day simple moving average is $76.73. Boise Cascade, L.L.C. has a 12-month low of $65.00 and a 12-month high of $91.97. The firm has a market cap of $2.74 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 1.06 and a beta of 1.10. The company has a quick ratio of 1.31, a current ratio of 2.71 and a debt-to-equity ratio of 0.24.

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 analysts' consensus estimates of $1.23 by $0.40. Boise Cascade had a net margin of 1.64% and a return on equity of 5.41%. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the business posted $1.64 earnings per share. Boise Cascade's revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities analysts expect that Boise Cascade, L.L.C. will post 3.86 EPS for the current year.

Boise Cascade Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.23 per share. 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. The ex-dividend date of this dividend is Tuesday, September 1st. Boise Cascade's payout ratio is presently 29.83%.

Insider Buying and Selling

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

Analyst Ratings Changes

BCC has been the subject of several research reports. Weiss Ratings upgraded shares of Boise Cascade from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, August 17th. Zacks Research cut Boise Cascade from a "strong-buy" rating to a "hold" rating in a report on Monday, August 17th. DA Davidson increased their price objective on Boise Cascade from $92.00 to $99.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. The Goldman Sachs Group boosted their target price on Boise Cascade from $81.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Finally, Truist Financial set a $97.00 price target on shares of Boise Cascade in a research report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Boise Cascade presently has a consensus rating of "Hold" and a consensus price target of $93.60.

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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