KLP Kapitalforvaltning AS Increases Stake in Boise Cascade, L.L.C. $BCC

KLP Kapitalforvaltning AS grew its stake in Boise Cascade, L.L.C. (NYSE:BCC) by 10.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 67,100 shares of the construction company’s stock after buying an additional 6,300 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Boise Cascade were worth $5,826,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Boise Cascade by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 4,422,544 shares of the construction company’s stock valued at $433,807,000 after buying an additional 70,231 shares during the period. Wellington Management Group LLP boosted its stake in shares of Boise Cascade by 1.4% in the 1st quarter. Wellington Management Group LLP now owns 2,629,978 shares of the construction company’s stock valued at $257,975,000 after buying an additional 35,639 shares during the period. Westwood Holdings Group Inc. boosted its stake in shares of Boise Cascade by 25.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,499,305 shares of the construction company’s stock valued at $147,067,000 after buying an additional 306,684 shares during the period. American Century Companies Inc. boosted its stake in shares of Boise Cascade by 8.1% in the 1st quarter. American Century Companies Inc. now owns 1,226,383 shares of the construction company’s stock valued at $120,296,000 after buying an additional 92,019 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Boise Cascade by 1.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 448,133 shares of the construction company’s stock valued at $43,957,000 after buying an additional 4,442 shares during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Wall Street Analyst Weigh In

BCC has been the subject of several recent research reports. DA Davidson decreased their price objective on Boise Cascade from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, July 18th. Truist Financial cut their target price on Boise Cascade from $101.00 to $96.00 and set a “buy” rating on the stock in a research report on Wednesday, September 17th. Bank of America cut their target price on Boise Cascade from $111.00 to $107.00 and set a “buy” rating on the stock in a research report on Wednesday, July 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of Boise Cascade in a research report on Wednesday. Finally, BMO Capital Markets reissued a “market perform” rating and set a $100.00 target price on shares of Boise Cascade in a research report on Tuesday, September 16th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Boise Cascade presently has an average rating of “Moderate Buy” and a consensus target price of $110.67.

Boise Cascade Trading Down 2.1%

BCC opened at $72.32 on Friday. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 5.03 and a beta of 1.27. Boise Cascade, L.L.C. has a 52 week low of $72.23 and a 52 week high of $155.42. The business’s 50 day moving average is $82.91 and its two-hundred day moving average is $87.83. The company has a quick ratio of 1.54, a current ratio of 2.96 and a debt-to-equity ratio of 0.21.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Monday, August 4th. The construction company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.05). The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.76 billion. Boise Cascade had a return on equity of 12.26% and a net margin of 4.00%.The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the firm earned $2.84 EPS. On average, research analysts predict that Boise Cascade, L.L.C. will post 10.15 EPS for the current year.

Boise Cascade Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.2%. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, September 2nd. Boise Cascade’s dividend payout ratio is presently 12.92%.

Insiders Place Their Bets

In other news, COO Jeffrey Robert Strom sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $91.06, for a total value of $91,060.00. Following the transaction, the chief operating officer owned 37,026 shares of the company’s stock, valued at approximately $3,371,587.56. The trade was a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Troy Little sold 2,033 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $83.10, for a total value of $168,942.30. Following the completion of the transaction, the executive vice president directly owned 12,701 shares in the company, valued at approximately $1,055,453.10. The trade was a 13.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,815 shares of company stock valued at $409,637 over the last quarter. Company insiders own 0.98% of the company’s stock.

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.