The Manufacturers Life Insurance Company Acquires New Holdings in Boise Cascade, L.L.C. $BCC

The Manufacturers Life Insurance Company bought a new position in Boise Cascade, L.L.C. (NYSE:BCC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 17,717 shares of the construction company’s stock, valued at approximately $1,375,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cerity Partners LLC lifted its stake in shares of Boise Cascade by 3.8% in the second quarter. Cerity Partners LLC now owns 3,274 shares of the construction company’s stock worth $284,000 after buying an additional 121 shares during the last quarter. Raymond James Financial Inc. lifted its position in Boise Cascade by 1.0% during the 2nd quarter. Raymond James Financial Inc. now owns 13,219 shares of the construction company’s stock worth $1,148,000 after acquiring an additional 126 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Boise Cascade by 77.5% in the fourth quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock valued at $30,000 after purchasing an additional 179 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Boise Cascade by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 7,329 shares of the construction company’s stock worth $539,000 after purchasing an additional 226 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of 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 purchasing an additional 259 shares during the period. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Stock Performance

BCC opened at $79.27 on Friday. The stock’s 50 day simple moving average is $78.95 and its 200-day simple moving average is $76.33. 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 $2.77 billion, a PE ratio of 26.87, a P/E/G ratio of 1.04 and a beta of 1.08. Boise Cascade, L.L.C. has a 1 year low of $65.00 and a 1 year high of $91.97.

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

Boise Cascade Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Tuesday, September 1st will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.2%. This is a boost from Boise Cascade’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, September 1st. Boise Cascade’s dividend payout ratio (DPR) is currently 31.19%.

Insider Activity

In other Boise Cascade news, Director Kristopher Matula sold 1,930 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total transaction of $163,239.40. Following the completion of the transaction, the director owned 13,982 shares in the company, valued at $1,182,597.56. This trade represents a 12.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jill Twedt sold 1,250 shares of Boise Cascade stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $79.40, for a total value of $99,250.00. Following the sale, the senior vice president directly owned 25,295 shares in the company, valued at $2,008,423. The trade was a 4.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BCC shares. Wall Street Zen raised Boise Cascade from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings upgraded shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, August 17th. Bank of America boosted their target price 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. DA Davidson upped their target price on shares of Boise Cascade from $92.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, Zacks Research lowered shares of Boise Cascade from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $93.60.

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.