Miller Value Partners LLC Takes $2.87 Million Position in Boise Cascade, L.L.C. $BCC

Miller Value Partners LLC bought a new position in Boise Cascade, L.L.C. (NYSE:BCC) during the 2nd quarter, HoldingsChannel reports. The fund bought 37,000 shares of the construction company’s stock, valued at approximately $2,872,000.

A number of other hedge funds have also made changes to their positions in BCC. Royal Bank of Canada lifted its holdings in Boise Cascade by 4.0% during the 1st quarter. Royal Bank of Canada now owns 34,704 shares of the construction company’s stock valued at $3,404,000 after purchasing an additional 1,332 shares during the last quarter. AQR Capital Management LLC grew its stake in 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 last quarter. Jones Financial Companies Lllp grew its stake in Boise Cascade by 1,638.4% during the first quarter. Jones Financial Companies Lllp now owns 4,120 shares of the construction company’s stock worth $404,000 after buying an additional 3,883 shares during the last quarter. United Services Automobile Association bought a new stake in Boise Cascade during the first quarter worth about $258,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased 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 worth $19,974,000 after buying an additional 3,978 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Wall Street Analyst Weigh In

BCC has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Truist Financial set a $97.00 price target on Boise Cascade in a report on Wednesday, May 6th. Weiss Ratings raised 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 boosted their price objective on Boise Cascade from $92.00 to $99.00 and gave the stock 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $93.60.

Insider Buying and Selling

In other news, Director Kristopher J. Matula sold 1,930 shares of Boise Cascade stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total value of $163,239.40. Following the completion of the sale, the director directly owned 13,982 shares of the company’s stock, valued at approximately $1,182,597.56. This trade represents a 12.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.42% of the company’s stock.

Boise Cascade Trading Down 1.3%

Shares of NYSE BCC opened at $81.18 on Wednesday. Boise Cascade, L.L.C. has a 1-year low of $65.00 and a 1-year high of $91.97. The company has a market cap of $2.83 billion, a PE ratio of 27.52, a P/E/G ratio of 1.11 and a beta of 1.10. The company has a current ratio of 2.71, a quick ratio of 1.31 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average of $78.54 and a two-hundred day moving average of $76.86.

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

Boise Cascade Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Tuesday, September 1st will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, September 1st. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.22. Boise Cascade’s dividend payout ratio is 29.83%.

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.