Empowered Funds LLC Makes New Investment in Boise Cascade, L.L.C. $BCC

Empowered Funds LLC acquired a new stake in shares of Boise Cascade, L.L.C. (NYSE:BCC) in the second quarter, Holdings Channel.com reports. The firm acquired 60,570 shares of the construction company’s stock, valued at approximately $4,702,000.

Several other institutional investors and hedge funds have also modified their holdings of BCC. Caitong International Asset Management Co. Ltd boosted its stake in shares of Boise Cascade by 231.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock worth $29,000 after buying an additional 259 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Boise Cascade by 77.5% in the fourth quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock valued at $30,000 after acquiring an additional 179 shares during the period. Advisory Services Network LLC acquired a new position in Boise Cascade in the third quarter valued at approximately $38,000. UMB Bank n.a. lifted its holdings in Boise Cascade by 98.5% in the fourth quarter. UMB Bank n.a. now owns 524 shares of the construction company’s stock valued at $39,000 after acquiring an additional 260 shares during the period. Finally, iSAM Funds UK Ltd purchased a new stake in Boise Cascade in the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Price Performance

BCC stock opened at $77.92 on Tuesday. Boise Cascade, L.L.C. has a 1 year low of $65.00 and a 1 year high of $91.97. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.71 and a quick ratio of 1.31. The firm has a market capitalization of $2.72 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 1.06 and a beta of 1.10. The business has a 50 day simple moving average of $78.99 and a 200-day simple moving average of $76.56.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Monday, August 3rd. The construction company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.40. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.77 billion. Boise Cascade had a return on equity of 5.41% and a net margin of 1.64%.The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.64 earnings per share. Equities research analysts anticipate that Boise Cascade, L.L.C. will post 3.86 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Tuesday, September 1st will be paid a $0.23 dividend. This is a boost from Boise Cascade’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.2%. Boise Cascade’s dividend payout ratio is 29.83%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BCC shares. The Goldman Sachs Group raised their price objective on shares of Boise Cascade from $81.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Bank of America boosted their target price on shares of Boise Cascade from $80.00 to $81.00 and gave the company an “underperform” rating in a research note on Tuesday, July 14th. Weiss Ratings raised shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 17th. Zacks Research lowered shares of Boise Cascade from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Finally, Wall Street Zen upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $93.60.

Insiders Place Their Bets

In other news, SVP Jill Twedt sold 1,250 shares of Boise Cascade stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $79.40, for a total transaction of $99,250.00. Following the transaction, the senior vice president owned 25,295 shares in the company, valued at $2,008,423. The trade was a 4.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kristopher J. Matula sold 1,930 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total transaction of $163,239.40. Following the transaction, the director directly owned 13,982 shares in the company, valued at approximately $1,182,597.56. The trade was a 12.13% decrease in their position. The SEC filing for this sale provides additional information. 1.42% of the stock is owned by company insiders.

Boise Cascade 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.