M&G PLC Buys Shares of 103,268 Boise Cascade, L.L.C. $BCC

M&G PLC purchased a new position in shares of Boise Cascade, L.L.C. (NYSE:BCC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 103,268 shares of the construction company’s stock, valued at approximately $8,984,000. M&G PLC owned 0.28% of Boise Cascade as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its holdings in 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 buying an additional 222 shares in the last quarter. Huntington National Bank lifted its position in shares of Boise Cascade by 630.0% during the 2nd quarter. Huntington National Bank now owns 438 shares of the construction company’s stock valued at $38,000 after acquiring an additional 378 shares during the period. RMG Wealth Management LLC purchased a new stake in shares of Boise Cascade during the 2nd quarter worth approximately $42,000. Blue Trust Inc. grew its holdings in shares of Boise Cascade by 28.6% in the 2nd quarter. Blue Trust Inc. now owns 1,181 shares of the construction company’s stock worth $103,000 after acquiring an additional 263 shares during the period. Finally, Magnetar Financial LLC purchased a new position in Boise Cascade in the 1st quarter valued at approximately $206,000. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Insiders Place Their Bets

In other Boise Cascade news, COO Jeffrey Robert Strom sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $91.06, for a total value of $91,060.00. Following the sale, the chief operating officer directly owned 37,026 shares of the company’s stock, valued at approximately $3,371,587.56. This trade represents a 2.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.98% of the company’s stock.

Boise Cascade Stock Up 0.8%

Shares of NYSE BCC opened at $70.18 on Thursday. Boise Cascade, L.L.C. has a 1 year low of $65.62 and a 1 year high of $155.42. The firm’s 50 day moving average price is $76.15 and its 200 day moving average price is $83.84. The firm has a market cap of $2.60 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 5.76 and a beta of 1.27. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.69 and a current ratio of 3.10.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Monday, November 3rd. The construction company reported $0.58 earnings per share for the quarter, meeting the consensus estimate of $0.58. Boise Cascade had a return on equity of 9.00% and a net margin of 2.96%.The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the previous year, the firm posted $2.33 EPS. Boise Cascade’s revenue was down 2.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Boise Cascade, L.L.C. will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Monday, December 1st will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.3%. The ex-dividend date is Monday, December 1st. Boise Cascade’s dividend payout ratio is presently 17.39%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BCC. Weiss Ratings cut Boise Cascade from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, November 7th. Truist Financial dropped their target price on shares of Boise Cascade from $101.00 to $96.00 and set a “buy” rating for the company in a report on Wednesday, September 17th. DA Davidson cut their target price on shares of Boise Cascade from $100.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, October 24th. The Goldman Sachs Group lowered their price target on shares of Boise Cascade from $96.00 to $82.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Finally, Wall Street Zen downgraded Boise Cascade from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.50.

Boise Cascade Profile

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.