LSV Asset Management Boosts Stake in Boise Cascade, L.L.C. (NYSE:BCC)

Key Points

• LSV Asset Management increased its holdings in Boise Cascade by 12.1%, owning approximately $40.6 million worth of the company's stock after acquiring an additional 44,600 shares.
• Several analyst firms have lowered their price targets for Boise Cascade, with the average target now at $116.00, but all rating the stock as "buy" or "hold."
• Boise Cascade has announced a quarterly dividend increase to $0.22 per share, set to be paid on September 17th, representing a 1.1% dividend yield.

LSV Asset Management grew its holdings in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 12.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 413,852 shares of the construction company's stock after purchasing an additional 44,600 shares during the period. LSV Asset Management owned approximately 1.09% of Boise Cascade worth $40,595,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in BCC. Westwood Holdings Group Inc. grew its position in Boise Cascade by 3.9% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,192,621 shares of the construction company's stock worth $141,755,000 after purchasing an additional 45,010 shares during the period. First Trust Advisors LP boosted its stake in shares of Boise Cascade by 37.9% in the 4th quarter. First Trust Advisors LP now owns 712,527 shares of the construction company's stock worth $84,691,000 after buying an additional 195,773 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Boise Cascade by 17.8% in the fourth quarter. Northern Trust Corp now owns 483,165 shares of the construction company's stock worth $57,429,000 after acquiring an additional 73,061 shares during the period. Invesco Ltd. lifted its holdings in Boise Cascade by 8.7% in the fourth quarter. Invesco Ltd. now owns 358,368 shares of the construction company's stock valued at $42,596,000 after acquiring an additional 28,814 shares during the period. Finally, Marshall Wace LLP boosted its position in Boise Cascade by 6.8% in the fourth quarter. Marshall Wace LLP now owns 356,912 shares of the construction company's stock worth $42,423,000 after purchasing an additional 22,678 shares during the last quarter. 96.18% of the stock is owned by institutional investors.

Boise Cascade Price Performance

Shares of NYSE:BCC traded up $4.51 during trading on Tuesday, hitting $87.22. 854,268 shares of the company's stock were exchanged, compared to its average volume of 361,285. The business's 50-day simple moving average is $87.62 and its 200 day simple moving average is $97.81. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 4.03 and a beta of 1.28. Boise Cascade, L.L.C. has a 52-week low of $80.30 and a 52-week high of $155.42. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.82 and a quick ratio of 1.51.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The construction company reported $1.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.69 by ($0.05). Boise Cascade had a net margin of 4.00% and a return on equity of 12.29%. The company had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.76 billion. During the same period last year, the business earned $2.84 earnings per share. The company's quarterly revenue was down 3.2% compared to the same quarter last year. As a group, equities analysts predict that Boise Cascade, L.L.C. will post 10.15 EPS for the current year.

Boise Cascade Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, September 2nd. This is an increase from Boise Cascade's previous quarterly dividend of $0.21. Boise Cascade's dividend payout ratio is presently 10.49%.

Wall Street Analysts Forecast Growth

BCC has been the topic of a number of research reports. Truist Financial dropped their price objective on shares of Boise Cascade from $114.00 to $106.00 and set a "buy" rating on the stock in a report on Tuesday, July 8th. Loop Capital cut their price target on Boise Cascade from $140.00 to $135.00 and set a "buy" rating for the company in a report on Monday, April 14th. Bank of America decreased their price objective on Boise Cascade from $111.00 to $107.00 and set a "buy" rating on the stock in a research note on Wednesday, July 9th. Finally, DA Davidson reduced their target price on shares of Boise Cascade from $115.00 to $100.00 and set a "buy" rating for the company in a report on Friday, July 18th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Boise Cascade currently has a consensus rating of "Moderate Buy" and an average price target of $116.00.

Insider Buying and Selling at Boise Cascade

In other news, EVP Joanna L. Barney sold 1,000 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $87.68, for a total transaction of $87,680.00. Following the completion of the transaction, the executive vice president owned 12,372 shares in the company, valued at $1,084,776.96. This trade represents a 7.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jill Twedt sold 1,200 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $88.01, for a total value of $105,612.00. Following the completion of the sale, the senior vice president owned 34,649 shares in the company, valued at $3,049,458.49. This represents a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.11% of the stock is owned by insiders.

Boise Cascade Profile

Boise Cascade Company engages in manufacture of wood products and distribution of building materials in the United States and Canada. It operates through two segments, Wood Products and Building Materials Distribution. The Wood Products segment manufactures laminated veneer lumber and laminated beams used in headers and beams; I-joists for residential and commercial flooring and roofing systems, and other structural applications; structural, appearance, and industrial plywood panels; and ponderosa pine shop lumber and appearance grade boards.