Paradigm Capital Management Inc. NY Buys Shares of 104,775 Boise Cascade, L.L.C. $BCC

Paradigm Capital Management Inc. NY purchased a new position in shares of Boise Cascade, L.L.C. (NYSE:BCC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 104,775 shares of the construction company’s stock, valued at approximately $8,134,000.

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

Insider Activity

In other news, Director Kristopher J. Matula sold 1,930 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total transaction of $163,239.40. Following the completion of the sale, the director directly owned 13,982 shares of the company’s stock, valued at $1,182,597.56. The trade was a 12.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.42% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on BCC shares. Truist Financial set a $97.00 target price on shares of Boise Cascade in a research note on Wednesday, May 6th. Wall Street Zen raised Boise Cascade from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings upgraded Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 17th. The Goldman Sachs Group lifted their price objective on Boise Cascade from $81.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Finally, DA Davidson upped their target price on Boise Cascade from $92.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $93.60.

Boise Cascade Trading Down 0.3%

Shares of BCC stock opened at $82.20 on Tuesday. The firm’s 50-day simple moving average is $78.34 and its 200-day simple moving average is $76.93. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.71 and a quick ratio of 1.31. Boise Cascade, L.L.C. has a 1-year low of $65.00 and a 1-year high of $91.97. The firm has a market cap of $2.87 billion, a P/E ratio of 27.86, a PEG ratio of 1.11 and a beta of 1.10.

Boise Cascade (NYSE:BCC) last released its earnings results on Monday, August 3rd. The construction company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.40. Boise Cascade had a net margin of 1.64% and a return on equity of 5.41%. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the firm earned $1.64 earnings per share. Boise Cascade’s revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts forecast that Boise Cascade, L.L.C. will post 3.86 EPS for the current year.

Boise Cascade Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Tuesday, September 1st will be issued a $0.23 dividend. This is a boost from Boise Cascade’s previous quarterly dividend of $0.22. The ex-dividend date is Tuesday, September 1st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.1%. Boise Cascade’s dividend payout ratio (DPR) is 31.19%.

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.