Carnegie Lake Advisors LLC Purchases New Shares in Boise Cascade, L.L.C. $BCC

Carnegie Lake Advisors LLC purchased a new stake in Boise Cascade, L.L.C. (NYSE:BCC) in the fourth quarter, Holdings Channel.com reports. The fund purchased 16,500 shares of the construction company’s stock, valued at approximately $1,214,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BCC. Caitong International Asset Management Co. Ltd raised its position in Boise Cascade by 231.3% in the 3rd 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. Fifth Third Bancorp raised its position in Boise Cascade by 77.5% in the 4th quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock valued at $30,000 after buying an additional 179 shares during the last quarter. Hantz Financial Services Inc. raised its position in Boise Cascade by 1,071.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 492 shares of the construction company’s stock valued at $38,000 after buying an additional 450 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Boise Cascade in the 3rd quarter valued at $38,000. Finally, Signaturefd LLC raised its position in Boise Cascade by 5,866.7% in the 4th quarter. Signaturefd LLC now owns 537 shares of the construction company’s stock valued at $40,000 after buying an additional 528 shares during the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Boise Cascade 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 value of $403,351.50. Following the completion of the transaction, the senior vice president owned 26,545 shares in the company, valued at $1,763,915.25. This trade represents a 18.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.42% of the stock is currently owned by corporate insiders.

Boise Cascade Stock Up 0.3%

Shares of NYSE BCC opened at $70.50 on Friday. Boise Cascade, L.L.C. has a 52 week low of $65.00 and a 52 week high of $95.00. The business has a 50-day simple moving average of $74.50 and a two-hundred day simple moving average of $76.85. The company has a quick ratio of 1.37, a current ratio of 2.77 and a debt-to-equity ratio of 0.24. The company has a market cap of $2.48 billion, a P/E ratio of 23.82, a P/E/G ratio of 1.05 and a beta of 1.15.

Boise Cascade (NYSE:BCC) last issued its earnings results on Monday, May 4th. The construction company reported $0.50 EPS for the quarter, topping 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 business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the company earned $1.06 EPS. The firm’s revenue was down 2.5% compared to the same quarter last year. Research analysts anticipate that Boise Cascade, L.L.C. will post 3.67 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Monday, June 1st will be paid a $0.22 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.88 annualized dividend and a yield of 1.2%. Boise Cascade’s dividend payout ratio (DPR) is currently 29.73%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BCC. Truist Financial set a $97.00 price target on Boise Cascade in a research report on Wednesday, May 6th. Wall Street Zen raised Boise Cascade from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. DA Davidson lowered their price target 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. The Goldman Sachs Group raised their target price on Boise Cascade from $85.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. Finally, Weiss Ratings raised Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $98.00.

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.