Paradigm Capital Management Inc. NY Makes New $8.13 Million Investment in Boise Cascade, L.L.C. $BCC

Key Points

• Paradigm Capital Management acquired 104,775 Boise Cascade shares worth approximately $8.13 million, representing about 0.30% of the company. Institutional investors and hedge funds collectively own 96.18% of BCC.
• Boise Cascade exceeded quarterly earnings expectations, reporting $1.63 EPS versus the $1.23 consensus and revenue of $1.83 billion, up 5.2% year over year.
• The company raised its quarterly dividend to $0.23 per share, or $0.92 annually, producing a 1.1% yield. Analysts maintain a consensus “Hold” rating with an average price target of $93.60.

Paradigm Capital Management Inc. NY bought a new position in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 104,775 shares of the construction company's stock, valued at approximately $8,134,000. Paradigm Capital Management Inc. NY owned approximately 0.30% of Boise Cascade as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in BCC. Caitong International Asset Management Co. Ltd increased 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 purchasing an additional 259 shares in the last quarter. Fifth Third Bancorp boosted its holdings in 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 buying an additional 179 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Boise Cascade during the third quarter worth about $38,000. UMB Bank n.a. grew its position in Boise Cascade by 98.5% during the fourth quarter. UMB Bank n.a. now owns 524 shares of the construction company's stock worth $39,000 after buying an additional 260 shares during the period. Finally, iSAM Funds UK Ltd acquired a new position in Boise Cascade during the third quarter worth about $44,000. 96.18% of the stock is owned by institutional investors and hedge funds.

Boise Cascade Price Performance

Shares of NYSE BCC opened at $82.20 on Tuesday. The company has a current ratio of 2.71, a quick ratio of 1.31 and a debt-to-equity ratio of 0.24. The company's 50-day moving average price is $78.34 and its 200 day moving average price is $76.93. Boise Cascade, L.L.C. has a 52 week low of $65.00 and a 52 week high of $91.97. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 1.11 and a beta of 1.10.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its earnings results on Monday, August 3rd. The construction company reported $1.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.40. The company had revenue of $1.83 billion during the quarter, compared to analysts' expectations of $1.77 billion. Boise Cascade had a net margin of 1.64% and a return on equity of 5.41%. The firm's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.64 earnings per share. As a group, research analysts forecast that Boise Cascade, L.L.C. will post 3.86 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Tuesday, September 1st will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.92 annualized dividend and a dividend yield of 1.1%. This is an increase from Boise Cascade's previous quarterly dividend of $0.22. Boise Cascade's payout ratio is presently 31.19%.

Insider Transactions at Boise Cascade

In related news, Director Kristopher J. Matula sold 1,930 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total value of $163,239.40. Following the sale, the director owned 13,982 shares of the company's stock, valued at approximately $1,182,597.56. This represents a 12.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.42% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wall Street Zen raised shares of Boise Cascade from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. DA Davidson upped their price target on Boise Cascade from $92.00 to $99.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Truist Financial set a $97.00 price target on Boise Cascade in a report on Wednesday, May 6th. Zacks Research downgraded Boise Cascade from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 17th. Finally, The Goldman Sachs Group lifted their price objective on Boise Cascade from $81.00 to $91.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Three 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, the stock presently has an average rating of "Hold" and an average price target of $93.60.

Boise Cascade Company 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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source