Advisors Asset Management Inc. Buys 4,387 Shares of Boise Cascade, L.L.C. $BCC

Advisors Asset Management Inc. raised its stake in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 4.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 103,682 shares of the construction company’s stock after buying an additional 4,387 shares during the quarter. Advisors Asset Management Inc.’s holdings in Boise Cascade were worth $9,002,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BCC. Vanguard Group Inc. boosted its position 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. Wellington Management Group LLP increased its holdings in Boise Cascade by 1.4% during the 1st quarter. Wellington Management Group LLP now owns 2,629,978 shares of the construction company’s stock worth $257,975,000 after acquiring an additional 35,639 shares during the period. Westwood Holdings Group Inc. lifted its stake in Boise Cascade by 9.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,645,026 shares of the construction company’s stock worth $142,821,000 after purchasing an additional 145,721 shares in the last quarter. American Century Companies Inc. boosted its holdings in Boise Cascade by 4.5% in the 2nd quarter. American Century Companies Inc. now owns 1,281,435 shares of the construction company’s stock valued at $111,254,000 after purchasing an additional 55,052 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Boise Cascade by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 947,477 shares of the construction company’s stock valued at $82,267,000 after purchasing an additional 7,618 shares during the period. 96.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. DA Davidson reaffirmed a “buy” rating and issued a $95.00 price target on shares of Boise Cascade in a report on Thursday, November 20th. The Goldman Sachs Group reduced their target price 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. Truist Financial decreased their target price on Boise Cascade from $101.00 to $96.00 and set a “buy” rating on the stock in a research note on Wednesday, September 17th. Wall Street Zen cut Boise Cascade from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Finally, BMO Capital Markets upgraded shares of Boise Cascade from a “market perform” rating to an “outperform” rating and set a $100.00 price target for the company in a research report on Wednesday, November 5th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $102.50.

Boise Cascade Stock Up 6.2%

Shares of Boise Cascade stock opened at $75.46 on Wednesday. Boise Cascade, L.L.C. has a 1 year low of $65.14 and a 1 year high of $152.32. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 5.88 and a beta of 1.27. The company has a 50-day moving average of $73.06 and a 200 day moving average of $82.37. 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 (NYSE:BCC) last posted its quarterly earnings data on Monday, November 3rd. The construction company reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. Boise Cascade had a net margin of 2.96% and a return on equity of 9.00%. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the firm posted $2.33 earnings per share. Boise Cascade’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Boise Cascade, L.L.C. will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Monday, December 1st will be issued a $0.22 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.2%. Boise Cascade’s dividend payout ratio (DPR) is presently 17.39%.

Boise Cascade 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.