First Eagle Investment Management LLC Raises Position in Boise Cascade, L.L.C. $BCC

First Eagle Investment Management LLC grew its position in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 30.8% during the fourth quarter, Holdings Channel reports. The fund owned 140,496 shares of the construction company’s stock after purchasing an additional 33,044 shares during the period. First Eagle Investment Management LLC’s holdings in Boise Cascade were worth $10,341,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cerity Partners LLC increased its holdings in shares of Boise Cascade by 3.8% during the second quarter. Cerity Partners LLC now owns 3,274 shares of the construction company’s stock valued at $284,000 after acquiring an additional 121 shares in the last quarter. Raymond James Financial Inc. increased its holdings in Boise Cascade by 1.0% in the 2nd quarter. Raymond James Financial Inc. now owns 13,219 shares of the construction company’s stock worth $1,148,000 after buying an additional 126 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Boise Cascade by 6.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,726 shares of the construction company’s stock worth $211,000 after buying an additional 158 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in Boise Cascade by 1.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 9,013 shares of the construction company’s stock worth $663,000 after buying an additional 163 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in Boise Cascade by 0.8% in the 4th quarter. State of Alaska Department of Revenue now owns 21,171 shares of the construction company’s stock worth $1,558,000 after buying an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on BCC shares. 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 lifted their price objective on Boise Cascade from $85.00 to $94.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. Truist Financial set a $97.00 price objective on Boise Cascade in a report on Wednesday, May 6th. Zacks Research upgraded Boise Cascade from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings downgraded Boise Cascade from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $98.00.

Boise Cascade Trading Down 1.7%

Boise Cascade stock opened at $68.05 on Wednesday. The business has a 50-day simple moving average of $76.11 and a two-hundred day simple moving average of $77.13. The company has a market cap of $2.39 billion, a P/E ratio of 22.99, a P/E/G ratio of 1.03 and a beta of 1.15. Boise Cascade, L.L.C. has a 52-week low of $65.14 and a 52-week high of $95.01. 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) last released its quarterly earnings results on Monday, May 4th. The construction company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.07. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.46 billion. Boise Cascade had a return on equity of 5.55% and a net margin of 1.73%.The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.06 EPS. Analysts predict that Boise Cascade, L.L.C. will post 3.67 EPS for the current year.

Boise Cascade Dividend Announcement

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

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.