LSV Asset Management Sells 22,600 Shares of Boise Cascade, L.L.C. $BCC

LSV Asset Management trimmed its position in Boise Cascade, L.L.C. (NYSE:BCC) by 5.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 391,252 shares of the construction company’s stock after selling 22,600 shares during the period. LSV Asset Management owned about 1.05% of Boise Cascade worth $33,968,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in BCC. Caxton Associates LLP purchased a new position in shares of Boise Cascade in the first quarter worth approximately $1,402,000. Intech Investment Management LLC increased its holdings in Boise Cascade by 13.4% during the first quarter. Intech Investment Management LLC now owns 41,941 shares of the construction company’s stock valued at $4,114,000 after buying an additional 4,963 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Boise Cascade by 12.5% in the second quarter. Public Employees Retirement System of Ohio now owns 39,811 shares of the construction company’s stock worth $3,456,000 after acquiring an additional 4,414 shares during the period. Strs Ohio purchased a new position in shares of Boise Cascade during the 1st quarter worth $1,069,000. Finally, Wedge Capital Management L L P NC grew its position in shares of Boise Cascade by 12.8% during the 2nd quarter. Wedge Capital Management L L P NC now owns 132,641 shares of the construction company’s stock valued at $11,516,000 after acquiring an additional 15,003 shares during the period. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Trading Down 0.9%

Shares of BCC opened at $66.06 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.10 and a quick ratio of 1.69. Boise Cascade, L.L.C. has a 1 year low of $65.62 and a 1 year high of $155.42. The company has a 50 day simple moving average of $74.53 and a two-hundred day simple moving average of $83.01. The firm has a market cap of $2.45 billion, a P/E ratio of 13.06, a price-to-earnings-growth ratio of 5.51 and a beta of 1.27.

Boise Cascade (NYSE:BCC) last released its earnings results on Monday, November 3rd. The construction company reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.64 billion. Boise Cascade had a net margin of 2.96% and a return on equity of 9.00%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.33 earnings per share. On average, equities analysts expect that Boise Cascade, L.L.C. will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Monday, December 1st will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, December 1st. Boise Cascade’s payout ratio is 17.39%.

Insider Activity at Boise Cascade

In related news, COO Jeffrey Robert Strom sold 1,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $91.06, for a total value of $91,060.00. Following the sale, the chief operating officer directly owned 37,026 shares in the company, valued at approximately $3,371,587.56. The trade was a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BCC. Wall Street Zen lowered Boise Cascade from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. The Goldman Sachs Group reduced their price target on Boise Cascade from $96.00 to $82.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. DA Davidson lowered their price objective on Boise Cascade from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. BMO Capital Markets upgraded Boise Cascade from a “market perform” rating to an “outperform” rating and set a $100.00 price objective for the company in a research note on Wednesday, November 5th. Finally, Truist Financial reduced their price objective on shares of Boise Cascade from $101.00 to $96.00 and set a “buy” rating for the company in a research note on Wednesday, September 17th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $102.50.

Boise Cascade Company Profile

Boise Cascade Company engages in manufacture of wood products and distribution of building materials in the United States and Canada. It operates through two segments, Wood Products and Building Materials Distribution. The Wood Products segment manufactures laminated veneer lumber and laminated beams used in headers and beams; I-joists for residential and commercial flooring and roofing systems, and other structural applications; structural, appearance, and industrial plywood panels; and ponderosa pine shop lumber and appearance grade boards.