Louisiana State Employees Retirement System Acquires New Position in Boise Cascade, L.L.C. $BCC

Louisiana State Employees Retirement System acquired a new position in shares of Boise Cascade, L.L.C. (NYSE:BCC) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 16,400 shares of the construction company’s stock, valued at approximately $1,244,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Baker Ellis Asset Management LLC boosted its stake in shares of Boise Cascade by 1.8% during the 1st quarter. Baker Ellis Asset Management LLC now owns 21,570 shares of the construction company’s stock worth $1,636,000 after acquiring an additional 390 shares in the last quarter. Corient Private Wealth LLC purchased a new position in Boise Cascade in the 4th quarter valued at approximately $425,000. Invesco Ltd. increased its stake in Boise Cascade by 1.3% in the 4th quarter. Invesco Ltd. now owns 202,488 shares of the construction company’s stock valued at $14,903,000 after purchasing an additional 2,640 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in Boise Cascade by 2.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 33,481 shares of the construction company’s stock worth $2,464,000 after purchasing an additional 934 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Boise Cascade during the fourth quarter worth $4,029,000. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Jill Twedt sold 6,070 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $66.45, for a total value of $403,351.50. Following the completion of the transaction, the senior vice president directly owned 26,545 shares in the company, valued at approximately $1,763,915.25. This represents a 18.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.42% of the company’s stock.

Boise Cascade Trading Up 0.0%

Shares of BCC opened at $75.96 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.77 and a quick ratio of 1.37. Boise Cascade, L.L.C. has a 1-year low of $65.00 and a 1-year high of $95.00. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 25.66, a price-to-earnings-growth ratio of 1.13 and a beta of 1.08. The firm has a 50 day simple moving average of $72.49 and a 200-day simple moving average of $76.88.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Monday, May 4th. The construction company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.07. Boise Cascade had a return on equity of 5.55% and a net margin of 1.73%.The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the company earned $1.06 earnings per share. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. Equities analysts forecast that Boise Cascade, L.L.C. will post 3.67 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Monday, June 1st were given a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.2%. Boise Cascade’s payout ratio is currently 29.73%.

Wall Street Analyst Weigh In

A number of research firms have commented on BCC. Truist Financial set a $97.00 target price on Boise Cascade in a research report on Wednesday, May 6th. Zacks Research upgraded Boise Cascade from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Weiss Ratings raised Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Finally, DA Davidson decreased their price objective on shares of Boise Cascade from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Boise Cascade currently has an average rating of “Moderate Buy” and a consensus price target of $98.00.

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.