Boise Cascade, L.L.C. $BCC Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its position in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 3.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 321,849 shares of the construction company’s stock after buying an additional 12,217 shares during the quarter. JPMorgan Chase & Co.’s holdings in Boise Cascade were worth $27,943,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC raised its position in shares of Boise Cascade by 2.3% in 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 valued at $243,000 after acquiring an additional 152 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Boise Cascade by 120.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 406 shares of the construction company’s stock valued at $40,000 after purchasing an additional 222 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Boise Cascade by 9.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,817 shares of the construction company’s stock valued at $276,000 after purchasing an additional 251 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its holdings in Boise Cascade by 3.6% in the 1st quarter. Evergreen Capital Management LLC now owns 7,428 shares of the construction company’s stock worth $729,000 after purchasing an additional 259 shares during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Price Performance

Shares of NYSE BCC opened at $76.61 on Thursday. The firm has a 50-day simple moving average of $72.61 and a 200-day simple moving average of $81.75. 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 stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 6.22 and a beta of 1.27. Boise Cascade, L.L.C. has a 52 week low of $65.14 and a 52 week high of $147.48.

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

Boise Cascade Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Monday, December 1st will be given a $0.22 dividend. The ex-dividend date is Monday, December 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.1%. Boise Cascade’s dividend payout ratio is 17.39%.

Wall Street Analysts Forecast Growth

Several analysts have commented on BCC shares. DA Davidson reissued a “buy” rating and issued a $95.00 price objective on shares of Boise Cascade in a report on Thursday, November 20th. BMO Capital Markets raised shares of Boise Cascade from a “market perform” rating to an “outperform” rating and set a $100.00 price target on the stock in a research note on Wednesday, November 5th. Weiss Ratings reissued a “sell (d+)” rating on shares of Boise Cascade in a report on Monday. Wall Street Zen cut shares of Boise Cascade from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Finally, Truist Financial dropped their target price on shares of Boise Cascade from $101.00 to $96.00 and set a “buy” rating on the stock in a research report on Wednesday, September 17th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $102.50.

Boise Cascade Company 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.