Legal & General Group Plc Makes New $6.74 Million Investment in Boise Cascade, L.L.C. $BCC

Legal & General Group Plc acquired a new stake in Boise Cascade, L.L.C. (NYSE:BCC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 86,782 shares of the construction company’s stock, valued at approximately $6,737,000. Legal & General Group Plc owned about 0.25% of Boise Cascade at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Boise Cascade in the 2nd quarter valued at $463,729,000. Norges Bank acquired a new position in Boise Cascade in the fourth quarter valued at $42,146,000. Wellington Management Group LLP raised its holdings in shares of Boise Cascade by 19.8% in the third quarter. Wellington Management Group LLP now owns 3,268,407 shares of the construction company’s stock valued at $252,713,000 after buying an additional 539,962 shares during the last quarter. Atlas FRM LLC acquired a new stake in shares of Boise Cascade during the second quarter worth about $34,545,350. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Boise Cascade by 214,282.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 420,189 shares of the construction company’s stock worth $30,926,000 after buying an additional 419,993 shares during the period. 96.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Bank of America boosted their price target on Boise Cascade from $80.00 to $81.00 and gave the company an “underperform” rating in a research report on Tuesday, July 14th. Truist Financial set a $97.00 price objective on Boise Cascade in a research report on Wednesday, May 6th. Zacks Research lowered Boise Cascade from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Wall Street Zen upgraded Boise Cascade from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings upgraded Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, August 17th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $93.60.

Insiders Place Their Bets

In other news, SVP Jill Twedt sold 1,250 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president owned 25,295 shares in the company, valued at $2,008,423. This trade represents a 4.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kristopher J. Matula sold 1,930 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total transaction of $163,239.40. Following the completion of the sale, the director owned 13,982 shares in the company, valued at $1,182,597.56. This represents a 12.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.42% of the stock is currently owned by insiders.

Boise Cascade Trading Up 0.5%

Shares of Boise Cascade stock opened at $76.24 on Thursday. The company has a 50-day moving average of $79.04 and a two-hundred day moving average of $76.38. Boise Cascade, L.L.C. has a 12-month low of $65.00 and a 12-month high of $91.97. 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 stock has a market cap of $2.66 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 1.02 and a beta of 1.08.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Monday, August 3rd. The construction company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.23 by $0.40. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.77 billion. Boise Cascade had a return on equity of 5.41% and a net margin of 1.64%.The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.64 EPS. On average, research analysts anticipate that Boise Cascade, L.L.C. will post 3.86 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders 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 is a positive change from Boise Cascade’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 1.2%. Boise Cascade’s dividend payout ratio (DPR) is presently 31.19%.

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.