Boise Cascade, L.L.C. (NYSE:BCC) Shares Bought by LSV Asset Management

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 raised its stake in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 12.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 413,852 shares of the construction company's stock after buying an additional 44,600 shares during the quarter. LSV Asset Management owned about 1.09% of Boise Cascade worth $40,595,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Vise Technologies Inc. boosted its holdings in shares of Boise Cascade by 3.4% in the 4th quarter. Vise Technologies Inc. now owns 3,021 shares of the construction company's stock valued at $359,000 after acquiring an additional 100 shares during the last quarter. SummerHaven Investment Management LLC boosted its holdings in shares of Boise Cascade by 1.7% in the first quarter. SummerHaven Investment Management LLC now owns 6,708 shares of the construction company's stock valued at $658,000 after acquiring an additional 114 shares during the period. Peak Financial Advisors LLC raised its stake in shares of Boise Cascade by 4.8% during the 1st quarter. Peak Financial Advisors LLC now owns 3,624 shares of the construction company's stock worth $355,000 after buying an additional 166 shares in the last quarter. Quarry LP boosted its position in shares of Boise Cascade by 502.4% in the 4th quarter. Quarry LP now owns 253 shares of the construction company's stock worth $30,000 after buying an additional 211 shares in the last quarter. Finally, Mission Wealth Management LP increased its stake in shares of Boise Cascade by 4.4% during the 1st quarter. Mission Wealth Management LP now owns 7,729 shares of the construction company's stock valued at $758,000 after acquiring an additional 327 shares during the last quarter. Institutional investors own 96.18% of the company's stock.

Boise Cascade Trading Up 0.3%

NYSE BCC traded up $0.26 on Thursday, reaching $83.18. 164,434 shares of the company were exchanged, compared to its average volume of 354,473. The stock has a market capitalization of $3.11 billion, a P/E ratio of 12.25, a price-to-earnings-growth ratio of 4.23 and a beta of 1.28. The business's fifty day moving average price is $87.50 and its 200 day moving average price is $97.64. Boise Cascade, L.L.C. has a fifty-two week low of $80.30 and a fifty-two week high of $155.42. The company has a current ratio of 2.96, a quick ratio of 1.51 and a debt-to-equity ratio of 0.21.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The construction company reported $1.64 EPS for the quarter, missing analysts' consensus estimates of $1.69 by ($0.05). The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.76 billion. Boise Cascade had a return on equity of 12.26% and a net margin of 4.00%. The company's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.84 EPS. Analysts forecast that Boise Cascade, L.L.C. will post 10.15 earnings per share for the current year.

Boise Cascade Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, September 2nd. This is a boost from Boise Cascade's previous quarterly dividend of $0.21. Boise Cascade's dividend payout ratio is presently 10.49%.

Insider Activity at Boise Cascade

In other news, SVP Jill Twedt sold 1,200 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $88.01, for a total value of $105,612.00. Following the transaction, the senior vice president owned 34,649 shares of the company's stock, valued at approximately $3,049,458.49. This represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Joanna L. Barney sold 1,000 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were 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. The trade was a 7.48% decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on BCC shares. Loop Capital decreased their target price on Boise Cascade from $140.00 to $135.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Truist Financial cut their target price on shares of Boise Cascade from $106.00 to $101.00 and set a "buy" rating for the company in a research report on Thursday. Bank of America dropped their price objective on shares of Boise Cascade from $111.00 to $107.00 and set a "buy" rating on the stock in a report on Wednesday, July 9th. DA Davidson reduced their price target on shares of Boise Cascade from $115.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Finally, BMO Capital Markets cut their price objective on Boise Cascade from $114.00 to $108.00 and set a "market perform" rating on the stock in a report on Thursday. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $112.83.

Boise Cascade Company 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.