Magnetar Financial LLC Boosts Stake in Boise Cascade, L.L.C. $BCC

Magnetar Financial LLC increased its holdings in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 266.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,938 shares of the construction company’s stock after acquiring an additional 45,041 shares during the quarter. Magnetar Financial LLC owned about 0.17% of Boise Cascade worth $4,789,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Capital Fund Management S.A. purchased a new position in Boise Cascade during the second quarter worth approximately $2,342,000. AlphaQuest LLC boosted its stake in Boise Cascade by 131.5% during the third quarter. AlphaQuest LLC now owns 35,873 shares of the construction company’s stock worth $2,774,000 after buying an additional 20,378 shares during the last quarter. ARGA Investment Management LP purchased a new stake in Boise Cascade in the 3rd quarter valued at $1,499,000. Allianz Asset Management GmbH increased its stake in shares of Boise Cascade by 10.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 175,031 shares of the construction company’s stock worth $13,533,000 after acquiring an additional 16,270 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Boise Cascade by 4.5% in the 2nd quarter. American Century Companies Inc. now owns 1,281,435 shares of the construction company’s stock worth $111,254,000 after acquiring an additional 55,052 shares during the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Stock Performance

Shares of Boise Cascade stock opened at $71.81 on Thursday. The firm has a market cap of $2.56 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.00 and a beta of 1.26. The company has a quick ratio of 1.74, a current ratio of 3.36 and a debt-to-equity ratio of 0.22. Boise Cascade, L.L.C. has a 52 week low of $65.14 and a 52 week high of $103.44. The business’s fifty day simple moving average is $82.39 and its 200-day simple moving average is $78.32.

Boise Cascade Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Monday, February 23rd will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, February 23rd. Boise Cascade’s payout ratio is 25.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Boise Cascade from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. The Goldman Sachs Group raised their price objective on shares of Boise Cascade from $85.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. DA Davidson reaffirmed a “buy” rating and set a $95.00 target price on shares of Boise Cascade in a research note on Tuesday, February 24th. Weiss Ratings upgraded shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 28th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Boise Cascade in a research note on Thursday, January 8th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $105.67.

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.