JPMorgan Chase & Co. Purchases 25,452 Shares of Boise Cascade, L.L.C. $BCC

JPMorgan Chase & Co. raised its position in Boise Cascade, L.L.C. (NYSE:BCC) by 7.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 347,301 shares of the construction company’s stock after buying an additional 25,452 shares during the quarter. JPMorgan Chase & Co. owned 0.94% of Boise Cascade worth $26,853,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BCC. CIBC Private Wealth Group LLC boosted its position in shares of Boise Cascade by 662.4% in the third quarter. CIBC Private Wealth Group LLC now owns 648 shares of the construction company’s stock valued at $50,000 after acquiring an additional 563 shares during the period. CIBC Bancorp USA Inc. bought a new position in Boise Cascade during the third quarter worth about $311,000. Danske Bank A S acquired a new stake in Boise Cascade in the 3rd quarter worth about $54,000. Caitong International Asset Management Co. Ltd raised its stake in Boise Cascade by 231.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock worth $29,000 after purchasing an additional 259 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in Boise Cascade in the 3rd quarter valued at about $38,000. Institutional investors own 96.18% of the company’s stock.

Boise Cascade Price Performance

Shares of NYSE:BCC opened at $71.86 on Tuesday. The firm has a 50 day moving average of $81.36 and a 200-day moving average of $77.33. The stock has a market capitalization of $2.58 billion, a PE ratio of 20.42, a PEG ratio of 0.98 and a beta of 1.26. The company has a current ratio of 3.36, a quick ratio of 1.74 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 $103.44.

Boise Cascade Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Monday, February 23rd were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Monday, February 23rd. Boise Cascade’s dividend payout ratio (DPR) is 25.00%.

Analyst Ratings Changes

A number of research analysts have issued reports on BCC shares. The Goldman Sachs Group increased their target price on shares of Boise Cascade from $85.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. BMO Capital Markets reiterated an “outperform” rating on shares of Boise Cascade in a research note on Thursday, January 8th. Truist Financial increased their price target on Boise Cascade from $92.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Weiss Ratings lowered Boise Cascade from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 13th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Boise Cascade in a report on Tuesday, February 24th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $105.67.

About Boise Cascade

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.