Medina Value Partners LLC Takes Position in Boise Cascade, L.L.C. $BCC

Key Points

• Medina Value Partners disclosed a new fourth-quarter stake in Boise Cascade, buying 227,200 shares worth about $16.7 million. The position represents 3.9% of the fund’s holdings and makes Boise Cascade its 14th-largest holding.
• Boise Cascade’s recent quarterly results beat expectations, with EPS of $0.50 versus the $0.43 estimate and revenue of $1.50 billion versus $1.46 billion expected. The company also reported a dividend of $0.22 per share, equal to a 1.2% annualized yield.
• Analyst sentiment is mixed but generally constructive, with several firms adjusting ratings and price targets. The stock currently has a “Moderate Buy” consensus and a median target price of $98.

Medina Value Partners LLC purchased a new stake in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 227,200 shares of the construction company's stock, valued at approximately $16,722,000. Boise Cascade makes up 3.9% of Medina Value Partners LLC's holdings, making the stock its 14th largest holding. Medina Value Partners LLC owned 0.61% of Boise Cascade at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Boise Cascade by 28.4% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 114,859 shares of the construction company's stock valued at $8,454,000 after buying an additional 25,432 shares in the last quarter. Arax Advisory Partners boosted its holdings in shares of Boise Cascade by 47.2% in the 4th quarter. Arax Advisory Partners now owns 964 shares of the construction company's stock valued at $71,000 after buying an additional 309 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Boise Cascade in the 4th quarter valued at about $1,163,000. UMB Bank n.a. boosted its holdings in shares of Boise Cascade by 98.5% in the 4th quarter. UMB Bank n.a. now owns 524 shares of the construction company's stock valued at $39,000 after buying an additional 260 shares in the last quarter. Finally, Itau Unibanco Holding S.A. boosted its holdings in shares of Boise Cascade by 1,451.1% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,365 shares of the construction company's stock valued at $100,000 after buying an additional 1,277 shares in the last quarter. 96.18% of the stock is currently owned by institutional investors.

Insider Transactions at Boise Cascade

In other Boise Cascade news, SVP Jill Twedt sold 6,070 shares of Boise Cascade stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $66.45, for a total transaction of $403,351.50. Following the sale, the senior vice president owned 26,545 shares of the company's stock, valued at $1,763,915.25. The trade was a 18.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.42% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Boise Cascade from $85.00 to $94.00 and gave the company a "neutral" rating in a report on Wednesday, February 25th. DA Davidson decreased their price objective on shares of Boise Cascade from $95.00 to $92.00 and set a "buy" rating for the company in a research report on Wednesday, May 6th. Zacks Research raised shares of Boise Cascade from a "strong sell" rating to a "hold" rating in a research report on Wednesday, May 6th. Wall Street Zen raised shares of Boise Cascade from a "sell" rating to a "hold" rating in a research report on Saturday, February 28th. Finally, Truist Financial set a $97.00 price objective on shares of Boise Cascade in a research report on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Boise Cascade currently has a consensus rating of "Moderate Buy" and a consensus target price of $98.00.

Boise Cascade Price Performance

Boise Cascade stock opened at $71.16 on Monday. The company's fifty day moving average price is $73.63 and its 200 day moving average price is $76.87. Boise Cascade, L.L.C. has a 1 year low of $65.00 and a 1 year high of $95.00. The stock has a market capitalization of $2.50 billion, a P/E ratio of 24.04, a P/E/G ratio of 1.06 and a beta of 1.09. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.37 and a current ratio of 2.77.

Boise Cascade (NYSE:BCC - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The construction company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.07. Boise Cascade had a net margin of 1.73% and a return on equity of 5.55%. The firm had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.46 billion. During the same quarter last 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 fiscal year.

Boise Cascade Announces Dividend

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

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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