Platinum Investment Management Ltd. Invests $373,000 in Boise Cascade, L.L.C. $BCC

Key Points

• Platinum Investment Management Ltd. has invested $373,000 in Boise Cascade, acquiring 4,298 shares during the second quarter.
• Boise Cascade reported earnings of $1.64 per share for the last quarter, missing analysts' expectations of $1.69, while revenue decreased by 3.2% year-over-year to $1.74 billion.
• The company has increased its quarterly dividend to $0.22 per share, marking a rise from the previous dividend of $0.21, with a current dividend yield of 1.1%.

Platinum Investment Management Ltd. bought a new stake in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 4,298 shares of the construction company's stock, valued at approximately $373,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BCC. Northwestern Mutual Wealth Management Co. lifted its position in shares of Boise Cascade by 120.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 406 shares of the construction company's stock valued at $40,000 after buying an additional 222 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Boise Cascade by 338.5% during the 1st quarter. Farther Finance Advisors LLC now owns 478 shares of the construction company's stock valued at $47,000 after buying an additional 369 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Boise Cascade by 93.7% during the 1st quarter. Blue Trust Inc. now owns 918 shares of the construction company's stock valued at $90,000 after buying an additional 444 shares in the last quarter. Curat Global LLC purchased a new position in shares of Boise Cascade during the 1st quarter valued at approximately $122,000. Finally, GAMMA Investing LLC lifted its position in shares of Boise Cascade by 60.6% during the 1st quarter. GAMMA Investing LLC now owns 1,458 shares of the construction company's stock valued at $143,000 after buying an additional 550 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company's stock.

Boise Cascade Trading Up 0.1%

Shares of BCC stock opened at $77.41 on Thursday. Boise Cascade, L.L.C. has a fifty-two week low of $75.94 and a fifty-two week high of $155.42. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.54 and a current ratio of 2.96. The stock's fifty day moving average is $84.33 and its two-hundred day moving average is $89.04. The firm has a market capitalization of $2.89 billion, a P/E ratio of 11.37, a PEG ratio of 5.26 and a beta of 1.27.

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

Boise Cascade Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.22 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $0.88 annualized dividend and a dividend yield of 1.1%. This is a boost from Boise Cascade's previous quarterly dividend of $0.21. Boise Cascade's payout ratio is presently 12.92%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on BCC shares. DA Davidson decreased their target price on Boise Cascade from $115.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Truist Financial decreased their price objective on Boise Cascade from $101.00 to $96.00 and set a "buy" rating on the stock in a report on Wednesday, September 17th. BMO Capital Markets restated a "market perform" rating and issued a $100.00 price objective on shares of Boise Cascade in a report on Tuesday, September 16th. Finally, 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 report on Wednesday, July 9th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $110.67.

Insider Transactions at Boise Cascade

In other news, SVP Jill Twedt sold 1,782 shares of Boise Cascade stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $83.97, for a total transaction of $149,634.54. Following the transaction, the senior vice president owned 32,867 shares in the company, valued at $2,759,841.99. The trade was a 5.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Troy Little sold 2,033 shares of Boise Cascade stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $83.10, for a total value of $168,942.30. Following the transaction, the executive vice president owned 12,701 shares in the company, valued at approximately $1,055,453.10. This represents a 13.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,815 shares of company stock worth $409,637 in the last quarter. Company insiders own 0.98% of the company's stock.

About Boise Cascade

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.

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