Advisors Asset Management Inc. Has $9 Million Position in Boise Cascade, L.L.C. $BCC

Advisors Asset Management Inc. raised its position in Boise Cascade, L.L.C. (NYSE:BCC) by 4.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,682 shares of the construction company’s stock after buying an additional 4,387 shares during the quarter. Advisors Asset Management Inc. owned 0.28% of Boise Cascade worth $9,002,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of BCC. SummerHaven Investment Management LLC increased its position in Boise Cascade by 2.3% during the second quarter. SummerHaven Investment Management LLC now owns 6,860 shares of the construction company’s stock worth $596,000 after acquiring an additional 152 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Boise Cascade by 5.7% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,800 shares of the construction company’s stock worth $243,000 after purchasing an additional 152 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of 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 during the period. PNC Financial Services Group Inc. raised its position in shares of Boise Cascade by 9.8% in the first quarter. PNC Financial Services Group Inc. now owns 2,817 shares of the construction company’s stock valued at $276,000 after buying an additional 251 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its position in shares of Boise Cascade by 3.6% in the first quarter. Evergreen Capital Management LLC now owns 7,428 shares of the construction company’s stock valued at $729,000 after buying an additional 259 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Stock Up 6.2%

Shares of NYSE BCC opened at $75.46 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.10 and a quick ratio of 1.69. The company has a 50-day moving average price of $73.06 and a 200-day moving average price of $82.37. The stock has a market capitalization of $2.79 billion, a P/E ratio of 14.91, a P/E/G ratio of 5.88 and a beta of 1.27. Boise Cascade, L.L.C. has a 1 year low of $65.14 and a 1 year high of $152.32.

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

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.88 dividend on an annualized basis and a yield of 1.2%. Boise Cascade’s payout ratio is presently 17.39%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Truist Financial reduced their price target on Boise Cascade from $101.00 to $96.00 and set a “buy” rating on the stock in a research report on Wednesday, September 17th. Weiss Ratings restated a “sell (d+)” rating on shares of Boise Cascade in a research report on Wednesday, November 19th. Wall Street Zen cut shares of Boise Cascade from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. The Goldman Sachs Group reduced their price objective on shares of Boise Cascade from $96.00 to $82.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Finally, BMO Capital Markets raised 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. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $102.50.

About Boise Cascade

Boise Cascade Company engages in manufacture of wood products and distribution of building materials in the United States and Canada. It operates through two segments, Wood Products and Building Materials Distribution. The Wood Products segment manufactures laminated veneer lumber and laminated beams used in headers and beams; I-joists for residential and commercial flooring and roofing systems, and other structural applications; structural, appearance, and industrial plywood panels; and ponderosa pine shop lumber and appearance grade boards.