ARGA Investment Management LP Invests $1.50 Million in Boise Cascade, L.L.C. $BCC

ARGA Investment Management LP purchased a new position in Boise Cascade, L.L.C. (NYSE:BCC) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 19,389 shares of the construction company’s stock, valued at approximately $1,499,000. ARGA Investment Management LP owned approximately 0.05% of Boise Cascade as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of BCC. Norges Bank purchased a new stake in Boise Cascade during the 2nd quarter worth approximately $39,818,000. Bank of America Corp DE increased its stake in shares of Boise Cascade by 76.5% in the second quarter. Bank of America Corp DE now owns 417,642 shares of the construction company’s stock worth $36,260,000 after buying an additional 181,025 shares during the last quarter. Westwood Holdings Group Inc. increased its stake in shares of Boise Cascade by 9.7% in the second quarter. Westwood Holdings Group Inc. now owns 1,645,026 shares of the construction company’s stock worth $142,821,000 after buying an additional 145,721 shares during the last quarter. M&G PLC acquired a new stake in Boise Cascade in the second quarter valued at $8,984,000. Finally, Peregrine Capital Management LLC boosted its stake in Boise Cascade by 89.2% during the 3rd quarter. Peregrine Capital Management LLC now owns 140,457 shares of the construction company’s stock valued at $10,860,000 after acquiring an additional 66,239 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets reissued an “outperform” rating on shares of Boise Cascade in a research report on Thursday, January 8th. The Goldman Sachs Group lowered their price objective on Boise Cascade from $96.00 to $82.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Weiss Ratings restated a “sell (d+)” rating on shares of Boise Cascade in a research note on Monday, December 29th. DA Davidson reaffirmed a “buy” rating and set a $95.00 target price on shares of Boise Cascade in a report on Thursday, November 20th. Finally, Wall Street Zen downgraded Boise Cascade from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Boise Cascade presently has a consensus rating of “Moderate Buy” and an average price target of $101.83.

Boise Cascade Stock Performance

Shares of NYSE BCC opened at $84.25 on Friday. 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 firm’s 50-day moving average price is $76.37 and its two-hundred day moving average price is $79.15. Boise Cascade, L.L.C. has a 52-week low of $65.14 and a 52-week high of $129.74. The stock has a market capitalization of $3.12 billion, a P/E ratio of 16.65 and a beta of 1.27.

Boise Cascade (NYSE:BCC) last announced its quarterly 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 business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the prior year, the firm earned $2.33 EPS. The business’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, sell-side analysts forecast 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 announced a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Monday, December 1st were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Monday, December 1st. Boise Cascade’s dividend payout ratio (DPR) is presently 17.39%.

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.