Fifth Third Bancorp Boosts Stock Holdings in Boise Cascade, L.L.C. $BCC

Fifth Third Bancorp lifted its position in Boise Cascade, L.L.C. (NYSE:BCC) by 4,085.1% during the first quarter, HoldingsChannel.com reports. The fund owned 17,159 shares of the construction company’s stock after acquiring an additional 16,749 shares during the period. Fifth Third Bancorp’s holdings in Boise Cascade were worth $1,302,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Royal Bank of Canada increased its stake in shares of Boise Cascade by 4.0% in the 1st quarter. Royal Bank of Canada now owns 34,704 shares of the construction company’s stock worth $3,404,000 after acquiring an additional 1,332 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Boise Cascade by 8.8% during the 1st quarter. AQR Capital Management LLC now owns 36,639 shares of the construction company’s stock valued at $3,594,000 after buying an additional 2,966 shares during the period. Jones Financial Companies Lllp lifted its holdings in Boise Cascade by 1,638.4% in the first quarter. Jones Financial Companies Lllp now owns 4,120 shares of the construction company’s stock valued at $404,000 after acquiring an additional 3,883 shares during the last quarter. United Services Automobile Association purchased a new position in Boise Cascade in the first quarter worth approximately $258,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Boise Cascade by 2.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 203,631 shares of the construction company’s stock worth $19,974,000 after acquiring an additional 3,978 shares during the period. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on BCC. Bank of America lifted their target price on Boise Cascade from $80.00 to $81.00 and gave the company an “underperform” rating in a research report on Tuesday, July 14th. DA Davidson reduced their price target on shares of Boise Cascade from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Truist Financial set a $97.00 price objective on shares of Boise Cascade in a research report on Wednesday, May 6th. Weiss Ratings upgraded shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Finally, Zacks Research raised Boise Cascade from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $92.80.

Boise Cascade Trading Up 1.9%

Shares of BCC stock opened at $77.89 on Friday. The company has a market capitalization of $2.74 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 1.06 and a beta of 1.08. The company has a current ratio of 2.77, a quick ratio of 1.37 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average is $72.70 and its two-hundred day moving average is $76.96. Boise Cascade, L.L.C. has a twelve month low of $65.00 and a twelve month high of $91.97.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Monday, May 4th. The construction company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.07. Boise Cascade had a return on equity of 5.55% and a net margin of 1.73%.The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the company earned $1.06 earnings per share. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. Equities analysts forecast that Boise Cascade, L.L.C. will post 3.83 EPS for the current year.

Boise Cascade Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Monday, June 1st were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Monday, June 1st. Boise Cascade’s payout ratio is currently 29.73%.

Insiders Place Their Bets

In other Boise Cascade news, SVP Jill Twedt sold 6,070 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $66.45, for a total transaction of $403,351.50. Following the transaction, the senior vice president owned 26,545 shares in the company, valued at approximately $1,763,915.25. The trade was a 18.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.42% of the company’s stock.

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.