Peregrine Capital Management LLC Increases Stock Position in Boise Cascade, L.L.C. $BCC

Peregrine Capital Management LLC grew its position in Boise Cascade, L.L.C. (NYSE:BCC) by 89.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 140,457 shares of the construction company’s stock after acquiring an additional 66,239 shares during the period. Peregrine Capital Management LLC owned about 0.38% of Boise Cascade worth $10,860,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. KLP Kapitalforvaltning AS grew its holdings in Boise Cascade by 15.5% in the third quarter. KLP Kapitalforvaltning AS now owns 77,500 shares of the construction company’s stock valued at $5,992,000 after purchasing an additional 10,400 shares during the period. Salomon & Ludwin LLC purchased a new position in shares of Boise Cascade during the 3rd quarter valued at approximately $28,000. Ethic Inc. purchased a new position in Boise Cascade during the third quarter valued at $244,000. Highland Capital Management LLC purchased a new position in Boise Cascade during the third quarter worth approximately $283,000. Finally, CWM LLC grew its holdings in shares of Boise Cascade by 30.6% during the 3rd quarter. CWM LLC now owns 747 shares of the construction company’s stock worth $58,000 after purchasing an additional 175 shares during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Trading Up 6.4%

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

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

Boise Cascade Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.