ARGA Investment Management LP Acquires New Holdings in Boise Cascade, L.L.C. $BCC

ARGA Investment Management LP bought a new stake in shares of Boise Cascade, L.L.C. (NYSE:BCC) in the third quarter, Holdings Channel.com reports. The firm bought 19,389 shares of the construction company’s stock, valued at approximately $1,499,000.

Several other large investors also recently made changes to their positions in the company. American Century Companies Inc. raised its position in shares of Boise Cascade by 4.5% during the 2nd quarter. American Century Companies Inc. now owns 1,281,435 shares of the construction company’s stock worth $111,254,000 after buying an additional 55,052 shares in the last quarter. Capital Fund Management S.A. bought a new position in shares of Boise Cascade in the second quarter valued at approximately $2,342,000. Westwood Holdings Group Inc. increased its stake in shares of Boise Cascade by 9.7% during the second quarter. Westwood Holdings Group Inc. now owns 1,645,026 shares of the construction company’s stock valued at $142,821,000 after acquiring an additional 145,721 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Boise Cascade by 12.5% during 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 purchasing an additional 4,414 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in Boise Cascade by 4.4% in the second quarter. Advisors Asset Management Inc. now owns 103,682 shares of the construction company’s stock worth $9,002,000 after purchasing an additional 4,387 shares during the period. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Trading Down 1.5%

Shares of NYSE BCC opened at $84.25 on Friday. The company has a quick ratio of 1.69, a current ratio of 3.10 and a debt-to-equity ratio of 0.22. Boise Cascade, L.L.C. has a 12 month low of $65.14 and a 12 month high of $129.74. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 16.65 and a beta of 1.27. The business has a fifty day simple moving average of $76.37 and a 200-day simple moving average of $79.15.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Monday, November 3rd. The construction company reported $0.58 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.58. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Boise Cascade had a return on equity of 9.00% and a net margin of 2.96%.Boise Cascade’s revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the business posted $2.33 EPS. Sell-side analysts predict that Boise Cascade, L.L.C. will post 10.15 EPS for the current year.

Boise Cascade Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Monday, December 1st were issued a dividend of $0.22 per share. The ex-dividend date was Monday, December 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.0%. Boise Cascade’s payout ratio is currently 17.39%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group lowered their price target on Boise Cascade from $96.00 to $82.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Boise Cascade in a research note on Monday, December 29th. Wall Street Zen cut shares of Boise Cascade from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. BMO Capital Markets reissued an “outperform” rating on shares of Boise Cascade in a report on Thursday, January 8th. Finally, Truist Financial raised their price objective on shares of Boise Cascade from $88.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $101.83.

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.