Louisiana State Employees Retirement System Purchases Shares of 16,400 Boise Cascade, L.L.C. $BCC

Key Points

• Louisiana State Employees Retirement System initiated a new position in Boise Cascade, buying 16,400 shares valued at about $1.24 million in the first quarter.
• Institutional interest remains heavy, with hedge funds and other large investors holding 96.18% of the company’s shares. Several firms added to positions, while Boise Cascade also saw some insider selling, including SVP Jill Twedt’s sale of 6,070 shares.
• Analysts currently have a Moderate Buy consensus on Boise Cascade, with an average price target of $98. The company recently beat quarterly EPS and revenue estimates, and it paid a quarterly dividend of $0.22 per share.

Louisiana State Employees Retirement System acquired a new position in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 16,400 shares of the construction company's stock, valued at approximately $1,244,000.

Several other large investors have also modified their holdings of the stock. Norges Bank purchased a new position in shares of Boise Cascade in the 4th quarter valued at $42,146,000. Wellington Management Group LLP raised its stake in Boise Cascade by 19.8% during the 3rd quarter. Wellington Management Group LLP now owns 3,268,407 shares of the construction company's stock worth $252,713,000 after acquiring an additional 539,962 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Boise Cascade by 214,282.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 420,189 shares of the construction company's stock valued at $30,926,000 after acquiring an additional 419,993 shares during the last quarter. Concentric Capital Strategies LP lifted its position in Boise Cascade by 202.0% in the fourth quarter. Concentric Capital Strategies LP now owns 425,179 shares of the construction company's stock valued at $31,293,000 after acquiring an additional 284,406 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake in Boise Cascade by 377.6% in the third quarter. Two Sigma Investments LP now owns 292,556 shares of the construction company's stock valued at $22,620,000 after acquiring an additional 231,302 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BCC. Truist Financial set a $97.00 price objective on Boise Cascade in a report on Wednesday, May 6th. Zacks Research raised Boise Cascade from a "strong sell" rating to a "hold" rating in a report on Wednesday, May 6th. DA Davidson decreased their target price on Boise Cascade from $95.00 to $92.00 and set a "buy" rating for the company in a research report on Wednesday, May 6th. Finally, Weiss Ratings upgraded Boise Cascade from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, May 18th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $98.00.

Insiders Place Their Bets

In related news, SVP Jill Twedt sold 6,070 shares of the company's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $66.45, for a total transaction of $403,351.50. Following the transaction, the senior vice president owned 26,545 shares of the company's stock, valued at $1,763,915.25. This represents a 18.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.42% of the stock is owned by corporate insiders.

Boise Cascade Trading Up 0.0%

Shares of Boise Cascade stock opened at $75.96 on Friday. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 25.66, a price-to-earnings-growth ratio of 1.13 and a beta of 1.08. Boise Cascade, L.L.C. has a 52-week low of $65.00 and a 52-week high of $95.00. The company's 50-day simple moving average is $72.49 and its 200-day simple moving average is $76.88. The company has a quick ratio of 1.37, a current ratio of 2.77 and a debt-to-equity ratio of 0.24.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The construction company reported $0.50 earnings per share for the quarter, beating 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 analyst estimates of $1.46 billion. During the same quarter in the previous year, the company earned $1.06 EPS. The firm's revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Boise Cascade, L.L.C. will post 3.67 earnings per share for the current year.

Boise Cascade Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Monday, June 1st were paid a $0.22 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.2%. Boise Cascade's payout ratio is 29.73%.

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.

Want to see what other hedge funds are holding BCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boise Cascade, L.L.C. (NYSE:BCC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.