Peregrine Capital Management LLC Purchases 66,239 Shares of Boise Cascade, L.L.C. $BCC

Peregrine Capital Management LLC grew its stake in Boise Cascade, L.L.C. (NYSE:BCC) by 89.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 140,457 shares of the construction company’s stock after buying an additional 66,239 shares during the quarter. Peregrine Capital Management LLC’s holdings in Boise Cascade were worth $10,860,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in shares of Boise Cascade by 4.0% in the first 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 increased its position in shares of Boise Cascade by 8.8% during the first quarter. AQR Capital Management LLC now owns 36,639 shares of the construction company’s stock worth $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 buying an additional 3,883 shares during the period. United Services Automobile Association acquired a new position in shares of Boise Cascade in the 1st quarter valued at about $258,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Boise Cascade by 2.0% during 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 valued at $19,974,000 after purchasing an additional 3,978 shares during the period. Institutional investors own 96.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BCC. Weiss Ratings reiterated a “sell (d+)” rating on shares of Boise Cascade in a report on Monday, December 29th. Truist Financial raised their target price on shares of Boise Cascade from $88.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday. BMO Capital Markets reissued an “outperform” rating on shares of Boise Cascade in a report on Thursday. DA Davidson reaffirmed a “buy” rating and set a $95.00 price objective on shares of Boise Cascade in a report on Thursday, November 20th. Finally, The Goldman Sachs Group reduced their target price on Boise Cascade from $96.00 to $82.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $101.83.

Boise Cascade Stock Up 6.4%

Shares of Boise Cascade stock opened at $78.18 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.69 and a current ratio of 3.10. Boise Cascade, L.L.C. has a 52-week low of $65.14 and a 52-week high of $131.27. The company’s 50 day moving average price is $73.17 and its 200-day moving average price is $79.58. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 15.45 and a beta of 1.27.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Monday, November 3rd. The construction company reported $0.58 earnings per share for the quarter, meeting the consensus estimate of $0.58. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Boise Cascade had a net margin of 2.96% and a return on equity of 9.00%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.33 EPS. Equities research analysts forecast that Boise Cascade, L.L.C. will post 10.15 EPS for the current year.

Boise Cascade Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Monday, December 1st were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Monday, December 1st. Boise Cascade’s dividend payout ratio is currently 17.39%.

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.