Royce & Associates LP Has $5.89 Million Position in Boise Cascade, L.L.C. $BCC

Key Points

• Royce & Associates LP cut its Boise Cascade stake by 23.4% in the fourth quarter, selling 24,400 shares and ending with 80,000 shares valued at about $5.89 million.
• Analysts are mixed but slightly constructive on BCC. Recent rating changes include multiple upgrades to “hold,” while the consensus remains “Moderate Buy” with a $98.00 price target.
• Boise Cascade beat earnings estimates in its latest quarterly report, posting $0.50 EPS versus $0.43 expected, and it also announced a quarterly dividend of $0.22 per share.

Royce & Associates LP reduced its stake in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 23.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 80,000 shares of the construction company's stock after selling 24,400 shares during the quarter. Royce & Associates LP owned approximately 0.22% of Boise Cascade worth $5,888,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BCC. Wellington Management Group LLP lifted its holdings in Boise Cascade by 19.8% in the 3rd quarter. Wellington Management Group LLP now owns 3,268,407 shares of the construction company's stock worth $252,713,000 after purchasing an additional 539,962 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Boise Cascade by 214,282.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 420,189 shares of the construction company's stock worth $30,926,000 after purchasing an additional 419,993 shares during the last quarter. Two Sigma Investments LP lifted its holdings in Boise Cascade by 377.6% in the 3rd quarter. Two Sigma Investments LP now owns 292,556 shares of the construction company's stock worth $22,620,000 after purchasing an additional 231,302 shares during the last quarter. Bank of America Corp DE lifted its holdings in Boise Cascade by 76.5% in the 2nd quarter. Bank of America Corp DE now owns 417,642 shares of the construction company's stock worth $36,260,000 after purchasing an additional 181,025 shares during the last quarter. Finally, Barclays PLC lifted its holdings in Boise Cascade by 128.8% in the 3rd quarter. Barclays PLC now owns 298,197 shares of the construction company's stock worth $23,057,000 after purchasing an additional 167,880 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BCC shares. Zacks Research upgraded Boise Cascade from a "strong sell" rating to a "hold" rating in a report on Wednesday, May 6th. Wall Street Zen upgraded Boise Cascade from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. The Goldman Sachs Group boosted their target price on Boise Cascade from $85.00 to $94.00 and gave the stock a "neutral" rating in a report on Wednesday, February 25th. Weiss Ratings upgraded Boise Cascade from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, May 18th. Finally, DA Davidson cut their price target on Boise Cascade from $95.00 to $92.00 and set a "buy" rating for the company in a report on Wednesday, May 6th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Boise Cascade currently has a consensus rating of "Moderate Buy" and a consensus price target of $98.00.

Boise Cascade Stock Down 0.5%

Shares of BCC stock opened at $69.98 on Friday. Boise Cascade, L.L.C. has a 12 month low of $65.00 and a 12 month high of $95.00. The firm has a market cap of $2.46 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 1.05 and a beta of 1.15. The stock has a 50 day moving average of $74.46 and a 200-day moving average of $76.81. The company has a quick ratio of 1.37, a current ratio of 2.77 and a debt-to-equity ratio of 0.24.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The construction company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.07. Boise Cascade had a return on equity of 5.55% and a net margin of 1.73%.The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the company earned $1.06 earnings per share. The company's quarterly revenue was down 2.5% compared to the same quarter last year. On average, equities analysts predict that Boise Cascade, L.L.C. will post 3.67 EPS for the current year.

Boise Cascade Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.22 per share. The ex-dividend date is Monday, June 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.3%. Boise Cascade's payout ratio is 29.73%.

Insider Activity at Boise Cascade

In other news, SVP Jill Twedt sold 6,070 shares of the company's stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $66.45, for a total transaction of $403,351.50. Following the completion of the transaction, the senior vice president directly owned 26,545 shares in the company, valued at $1,763,915.25. The trade was a 18.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.42% of the stock is currently owned by company insiders.

Boise Cascade 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.

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