Miller Value Partners LLC Invests $2.87 Million in Boise Cascade, L.L.C. $BCC

Miller Value Partners LLC acquired a new stake in Boise Cascade, L.L.C. (NYSE:BCC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 37,000 shares of the construction company’s stock, valued at approximately $2,872,000. Miller Value Partners LLC owned 0.11% of Boise Cascade at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in Boise Cascade during the 2nd quarter valued at $463,729,000. Wellington Management Group LLP boosted its holdings in Boise Cascade by 19.8% in the 3rd quarter. Wellington Management Group LLP now owns 3,268,407 shares of the construction company’s stock valued at $252,713,000 after purchasing an additional 539,962 shares during the period. Dimensional Fund Advisors LP grew its position in Boise Cascade by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,325,781 shares of the construction company’s stock worth $176,410,000 after purchasing an additional 46,561 shares during the last quarter. State Street Corp increased its holdings in shares of Boise Cascade by 0.3% during the 4th quarter. State Street Corp now owns 1,472,071 shares of the construction company’s stock worth $108,344,000 after purchasing an additional 3,817 shares during the period. Finally, Norges Bank acquired a new position in shares of Boise Cascade during the fourth quarter valued at about $42,146,000. Institutional investors and hedge funds own 96.18% of the company’s stock.

Insider Buying and Selling at Boise Cascade

In other news, Director Kristopher J. Matula sold 1,930 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total value of $163,239.40. Following the sale, the director directly owned 13,982 shares in the company, valued at approximately $1,182,597.56. This represents a 12.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BCC. Truist Financial set a $97.00 target price on Boise Cascade in a research report on Wednesday, May 6th. Wall Street Zen raised Boise Cascade from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. DA Davidson raised their price objective on Boise Cascade from $92.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Zacks Research lowered Boise Cascade from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Finally, Bank of America boosted their price objective on Boise Cascade from $80.00 to $81.00 and gave the company an “underperform” rating in a research report on Tuesday, July 14th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $93.60.

Boise Cascade Price Performance

NYSE:BCC opened at $81.18 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.31 and a current ratio of 2.71. The company has a 50-day moving average of $78.54 and a 200-day moving average of $76.86. Boise Cascade, L.L.C. has a 52 week low of $65.00 and a 52 week high of $91.97. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 27.52, a PEG ratio of 1.11 and a beta of 1.10.

Boise Cascade (NYSE:BCC) last posted its earnings results on Monday, August 3rd. The construction company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.40. Boise Cascade had a net margin of 1.64% and a return on equity of 5.41%. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the firm posted $1.64 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities research analysts anticipate that Boise Cascade, L.L.C. will post 3.86 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 1.1%. Boise Cascade’s dividend payout ratio (DPR) is presently 29.83%.

Boise Cascade Company 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.