Boise Cascade, L.L.C. $BCC Stock: Summit Global Investments Increases Holdings

Summit Global Investments increased its position in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 271.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,670 shares of the construction company’s stock after buying an additional 7,796 shares during the quarter. Summit Global Investments’ holdings in Boise Cascade were worth $791,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Signaturefd LLC grew its position in Boise Cascade by 16.3% in the third quarter. Signaturefd LLC now owns 1,000 shares of the construction company’s stock worth $74,000 after acquiring an additional 140 shares during the period. Sequoia Financial Advisors LLC raised its position in Boise Cascade by 4.4% in the second quarter. Sequoia Financial Advisors LLC now owns 3,693 shares of the construction company’s stock valued at $287,000 after purchasing an additional 157 shares during the period. GAMMA Investing LLC raised its position in Boise Cascade by 19.0% in the third quarter. GAMMA Investing LLC now owns 1,164 shares of the construction company’s stock valued at $86,000 after purchasing an additional 186 shares during the period. Ethic Inc. raised its position in Boise Cascade by 17.0% in the second quarter. Ethic Inc. now owns 3,599 shares of the construction company’s stock valued at $279,000 after purchasing an additional 522 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Boise Cascade by 23.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,209 shares of the construction company’s stock valued at $238,000 after purchasing an additional 599 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BCC has been the subject of a number of research analyst reports. Wall Street Zen cut Boise Cascade from a “buy” rating to a “hold” rating in a report on Saturday. Bank of America cut their price objective on Boise Cascade from $89.00 to $80.00 and set an “underperform” rating for the company in a research report on Wednesday, October 14th. Weiss Ratings upgraded shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 17th. 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 report on Wednesday, August 5th. Finally, Zacks Research lowered shares of Boise Cascade from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $92.00.

Insider Buying and Selling at Boise Cascade

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

Boise Cascade Stock Down 4.5%

Shares of NYSE BCC opened at $75.28 on Tuesday. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 0.97 and a beta of 1.08. The company has a quick ratio of 1.31, a current ratio of 2.71 and a debt-to-equity ratio of 0.24. Boise Cascade, L.L.C. has a 52-week low of $65.00 and a 52-week high of $91.97. The business’s 50 day moving average is $76.30 and its two-hundred day moving average is $77.24.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Monday, November 2nd. The construction company reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). Boise Cascade had a return on equity of 5.41% and a net margin of 1.64%. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the company earned $0.58 earnings per share. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. Research analysts predict that Boise Cascade, L.L.C. will post 3.86 EPS for the current year.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Tuesday, December 1st will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, December 1st. Boise Cascade’s payout ratio is currently 31.19%.

Boise Cascade Profile

Boise Cascade Company is a U.S.-based manufacturer of engineered wood products and a wholesale distributor of building materials. Headquartered in Boise, Idaho, the company serves the residential construction, repair and remodeling, and industrial sectors primarily across the United States.

Through its Wood Products segment, Boise Cascade manufactures laminated veneer lumber, I-joists, laminated strand lumber, plywood, and other engineered wood products used in floors, roofs, walls, and structural applications.