Fifth Third Bancorp Increases Stake in Boise Cascade, L.L.C. $BCC

Fifth Third Bancorp increased its position in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 4,085.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,159 shares of the construction company’s stock after purchasing an additional 16,749 shares during the period. Fifth Third Bancorp’s holdings in Boise Cascade were worth $1,302,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd grew its stake 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 valued at $29,000 after buying an additional 259 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Boise Cascade in the third quarter worth $38,000. UMB Bank n.a. increased its stake in Boise Cascade by 98.5% in the fourth quarter. UMB Bank n.a. now owns 524 shares of the construction company’s stock worth $39,000 after purchasing an additional 260 shares during the period. Signaturefd LLC lifted its position in shares of Boise Cascade by 5,866.7% during the fourth quarter. Signaturefd LLC now owns 537 shares of the construction company’s stock worth $40,000 after purchasing an additional 528 shares during the last quarter. Finally, iSAM Funds UK Ltd bought a new stake in shares of Boise Cascade during the third quarter worth $44,000. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Stock Up 1.9%

Boise Cascade stock opened at $77.89 on Friday. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 1.06 and a beta of 1.08. Boise Cascade, L.L.C. has a 52 week low of $65.00 and a 52 week high of $91.97. The business’s 50-day moving average price is $72.70 and its 200 day moving average price is $76.96. The company has a quick ratio of 1.37, a current ratio of 2.77 and a debt-to-equity ratio of 0.24.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Monday, May 4th. The construction company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.07. Boise Cascade had a return on equity of 5.55% and a net margin of 1.73%.The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the business earned $1.06 earnings per share. Boise Cascade’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Boise Cascade, L.L.C. will post 3.83 earnings per share for the current year.

Boise Cascade Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Monday, June 1st were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, June 1st. Boise Cascade’s dividend payout ratio is presently 29.73%.

Analyst Ratings Changes

Several research firms have recently weighed in on BCC. Truist Financial set a $97.00 price target on shares of Boise Cascade in a research note on Wednesday, May 6th. Zacks Research raised Boise Cascade from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. Weiss Ratings upgraded Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 18th. DA Davidson decreased their target price on Boise Cascade from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Finally, Bank of America upped their target price on Boise Cascade from $80.00 to $81.00 and gave the stock an “underperform” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $92.80.

Insider Activity

In other news, SVP Jill Twedt sold 6,070 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $66.45, for a total transaction of $403,351.50. Following the sale, the senior vice president directly owned 26,545 shares in the company, valued at $1,763,915.25. This trade represents a 18.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.42% of the stock is currently owned by insiders.

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.