The Manufacturers Life Insurance Company Invests $1.38 Million in Boise Cascade, L.L.C. $BCC

Key Points

• The Manufacturers Life Insurance Company bought 17,717 Boise Cascade shares worth approximately $1.38 million, while institutional investors and hedge funds collectively own 96.18% of the company.
• Boise Cascade reported quarterly earnings of $1.63 per share, beating estimates by $0.40, alongside revenue of $1.83 billion—a 5.2% year-over-year increase.
• The company raised its quarterly dividend to $0.23 per share, equivalent to a $0.92 annualized payout and a 1.2% yield. Analysts maintain a consensus “Hold” rating with a $93.60 price target.

The Manufacturers Life Insurance Company bought a new stake in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 17,717 shares of the construction company's stock, valued at approximately $1,375,000. The Manufacturers Life Insurance Company owned approximately 0.05% of Boise Cascade as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its position in Boise Cascade by 231.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company's stock worth $29,000 after acquiring an additional 259 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Boise Cascade by 77.5% in the 4th quarter. Fifth Third Bancorp now owns 410 shares of the construction company's stock worth $30,000 after purchasing an additional 179 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Boise Cascade in the 3rd quarter worth approximately $38,000. UMB Bank n.a. lifted its stake in Boise Cascade by 98.5% during the fourth quarter. UMB Bank n.a. now owns 524 shares of the construction company's stock valued at $39,000 after purchasing an additional 260 shares during the last quarter. Finally, iSAM Funds UK Ltd acquired a new stake in Boise Cascade during the third quarter valued at approximately $44,000. 96.18% of the stock is owned by institutional investors and hedge funds.

Boise Cascade Trading Up 2.8%

NYSE BCC opened at $79.27 on Friday. The company has a current ratio of 2.71, a quick ratio of 1.31 and a debt-to-equity ratio of 0.24. Boise Cascade, L.L.C. has a 1-year low of $65.00 and a 1-year high of $91.97. The firm's fifty day simple moving average is $78.95 and its 200-day simple moving average is $76.33. The company has a market capitalization of $2.77 billion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 1.04 and a beta of 1.08.

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

Boise Cascade Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Tuesday, September 1st will be issued 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 1.2%. This is a positive change from Boise Cascade's previous quarterly dividend of $0.22. Boise Cascade's dividend payout ratio is presently 31.19%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Weiss Ratings upgraded shares of Boise Cascade from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, August 17th. Zacks Research lowered Boise Cascade from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 17th. Wall Street Zen raised Boise Cascade from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. The Goldman Sachs Group boosted their price target on shares of Boise Cascade from $81.00 to $91.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. Finally, Bank of America lifted their price objective on shares of Boise Cascade from $80.00 to $81.00 and gave the stock an "underperform" rating in a research report on Tuesday, July 14th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $93.60.

Insider Activity at Boise Cascade

In related news, SVP Jill Twedt sold 1,250 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $79.40, for a total value of $99,250.00. Following the transaction, the senior vice president owned 25,295 shares in the company, valued at approximately $2,008,423. This represents a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kristopher Matula sold 1,930 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total transaction of $163,239.40. Following the transaction, the director directly owned 13,982 shares in the company, valued at approximately $1,182,597.56. The trade was a 12.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.42% of the company's stock.

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.

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