Wedge Capital Management L L P NC Raises Stock Position in Boise Cascade, L.L.C. $BCC

Wedge Capital Management L L P NC lifted its holdings in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 16.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 153,873 shares of the construction company’s stock after purchasing an additional 21,232 shares during the quarter. Wedge Capital Management L L P NC owned about 0.41% of Boise Cascade worth $11,897,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in BCC. Northwestern Mutual Wealth Management Co. boosted its position in 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 buying an additional 222 shares during the period. Huntington National Bank boosted its stake in shares of Boise Cascade by 630.0% in the 2nd quarter. Huntington National Bank now owns 438 shares of the construction company’s stock valued at $38,000 after buying an additional 378 shares during the period. RMG Wealth Management LLC acquired a new position in shares of Boise Cascade during the second quarter worth about $42,000. Blue Trust Inc. increased its stake in shares of Boise Cascade by 28.6% during the second quarter. Blue Trust Inc. now owns 1,181 shares of the construction company’s stock worth $103,000 after buying an additional 263 shares during the period. Finally, Magnetar Financial LLC acquired a new stake in Boise Cascade in the first quarter valued at approximately $206,000. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Trading Down 3.7%

NYSE:BCC opened at $74.82 on Monday. The company has a market capitalization of $2.77 billion, a PE ratio of 14.79, a P/E/G ratio of 6.19 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 $131.27. The stock’s 50 day moving average price is $72.36 and its 200 day moving average price is $80.64. The company has a quick ratio of 1.69, a current ratio of 3.10 and a debt-to-equity ratio of 0.22.

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

Boise Cascade Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Monday, December 1st were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, December 1st. Boise Cascade’s dividend payout ratio (DPR) is presently 17.39%.

Wall Street Analyst Weigh In

Several research firms have commented on BCC. Wall Street Zen cut shares of Boise Cascade from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. The Goldman Sachs Group lowered their target price on shares of Boise Cascade from $96.00 to $82.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. Truist Financial cut their price target on Boise Cascade from $101.00 to $96.00 and set a “buy” rating on the stock in a research note on Wednesday, September 17th. BMO Capital Markets raised Boise Cascade from a “market perform” rating to an “outperform” rating and set a $100.00 price target for the company in a report on Wednesday, November 5th. Finally, DA Davidson reiterated a “buy” rating and issued a $95.00 price objective on shares of Boise Cascade in a report on Thursday, November 20th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Boise Cascade presently has an average rating of “Moderate Buy” and a consensus target price of $102.50.

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.