ZWJ Investment Counsel Inc. Invests $227,000 in Boise Cascade, L.L.C. $BCC

ZWJ Investment Counsel Inc. bought a new stake in Boise Cascade, L.L.C. (NYSE:BCC) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 2,610 shares of the construction company’s stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BCC. Westwood Holdings Group Inc. boosted its stake in Boise Cascade by 25.7% in the first quarter. Westwood Holdings Group Inc. now owns 1,499,305 shares of the construction company’s stock valued at $147,067,000 after acquiring an additional 306,684 shares in the last quarter. GAMMA Investing LLC increased its position in Boise Cascade by 15,650.6% during the first quarter. GAMMA Investing LLC now owns 143,015 shares of the construction company’s stock worth $14,028,000 after buying an additional 142,107 shares during the period. American Century Companies Inc. lifted its stake in Boise Cascade by 8.1% in the first quarter. American Century Companies Inc. now owns 1,226,383 shares of the construction company’s stock valued at $120,296,000 after buying an additional 92,019 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Boise Cascade in the first quarter valued at approximately $8,617,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Boise Cascade by 1.6% in the first quarter. Vanguard Group Inc. now owns 4,422,544 shares of the construction company’s stock valued at $433,807,000 after acquiring an additional 70,231 shares during the period. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Jeffrey Robert Strom sold 1,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $91.06, for a total value of $91,060.00. Following the completion of the transaction, the chief operating officer owned 37,026 shares in the company, valued at $3,371,587.56. This trade represents a 2.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jill Twedt sold 1,782 shares of the business’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $83.97, for a total transaction of $149,634.54. Following the sale, the senior vice president directly owned 32,867 shares in the company, valued at approximately $2,759,841.99. This represents a 5.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,815 shares of company stock worth $409,637 in the last 90 days. 0.98% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BCC shares. DA Davidson cut their target price on shares of Boise Cascade from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, July 18th. Truist Financial lowered their price target on Boise Cascade from $101.00 to $96.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Boise Cascade in a research note on Saturday, September 27th. BMO Capital Markets reiterated a “market perform” rating and issued a $100.00 target price on shares of Boise Cascade in a research note on Tuesday, September 16th. Finally, Bank of America dropped their target price on Boise Cascade from $111.00 to $107.00 and set a “buy” rating on the stock in a report on Wednesday, July 9th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $110.67.

Boise Cascade Stock Performance

NYSE BCC opened at $77.74 on Friday. The company has a current ratio of 2.96, a quick ratio of 1.54 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $83.96 and its two-hundred day moving average is $88.66. Boise Cascade, L.L.C. has a 12-month low of $75.94 and a 12-month high of $155.42. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 5.28 and a beta of 1.27.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings results on Monday, August 4th. The construction company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.05). Boise Cascade had a net margin of 4.00% and a return on equity of 12.26%. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the business earned $2.84 earnings per share. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. Research analysts expect that Boise Cascade, L.L.C. will post 10.15 EPS for the current year.

Boise Cascade Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.22 per share. This is a boost from Boise Cascade’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.1%. Boise Cascade’s dividend payout ratio is currently 12.92%.

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.