Wedge Capital Management L L P NC Boosts Stock Position in Boise Cascade, L.L.C. $BCC

Wedge Capital Management L L P NC lifted its stake in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 16.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 153,873 shares of the construction company’s stock after buying an additional 21,232 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Boise Cascade were worth $11,897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Huntington National Bank lifted its stake in shares of Boise Cascade by 630.0% in the 2nd quarter. Huntington National Bank now owns 438 shares of the construction company’s stock worth $38,000 after acquiring an additional 378 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Boise Cascade by 120.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 406 shares of the construction company’s stock worth $40,000 after purchasing an additional 222 shares in the last quarter. RMG Wealth Management LLC acquired a new stake in Boise Cascade in the second quarter valued at about $42,000. Blue Trust Inc. increased its position in Boise Cascade by 28.6% during the 2nd quarter. Blue Trust Inc. now owns 1,181 shares of the construction company’s stock worth $103,000 after purchasing an additional 263 shares during the period. Finally, Magnetar Financial LLC acquired a new position in Boise Cascade during the 1st quarter worth approximately $206,000. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BCC has been the topic of a number of recent analyst reports. Truist Financial dropped their price objective on Boise Cascade from $101.00 to $96.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. BMO Capital Markets upgraded shares of Boise Cascade from a “market perform” rating to an “outperform” rating and set a $100.00 price target for the company in a report on Wednesday, November 5th. Wall Street Zen downgraded shares of Boise Cascade from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Weiss Ratings restated a “sell (d+)” rating on shares of Boise Cascade in a research report on Monday, December 15th. Finally, The Goldman Sachs Group reduced their price target on shares of Boise Cascade from $96.00 to $82.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Boise Cascade presently has a consensus rating of “Moderate Buy” and an average price target of $102.50.

Boise Cascade Price Performance

Shares of NYSE BCC opened at $74.82 on Monday. The company has a current ratio of 3.10, a quick ratio of 1.69 and a debt-to-equity ratio of 0.22. The company’s 50-day moving average price is $72.36 and its 200 day moving average price is $80.64. Boise Cascade, L.L.C. has a 52 week low of $65.14 and a 52 week high of $131.27. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 6.19 and a beta of 1.27.

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

Boise Cascade Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Monday, December 1st were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Monday, December 1st. Boise Cascade’s dividend payout ratio (DPR) is currently 17.39%.

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.