Magnetar Financial LLC Grows Position in Boise Cascade, L.L.C. $BCC

Magnetar Financial LLC raised its position in Boise Cascade, L.L.C. (NYSE:BCC) by 704.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,897 shares of the construction company’s stock after buying an additional 14,797 shares during the quarter. Magnetar Financial LLC’s holdings in Boise Cascade were worth $1,467,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Huntington National Bank increased its holdings 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 acquiring an additional 378 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Boise Cascade by 120.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 406 shares of the construction company’s stock worth $40,000 after purchasing an additional 222 shares during the period. RMG Wealth Management LLC purchased a new position in Boise Cascade during the 2nd quarter worth $42,000. Blue Trust Inc. grew its position in Boise Cascade by 28.6% during the 2nd quarter. Blue Trust Inc. now owns 1,181 shares of the construction company’s stock worth $103,000 after purchasing an additional 263 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. acquired a new position in Boise Cascade in the second quarter valued at $227,000. 96.18% of the stock is owned by institutional investors and hedge funds.

Boise Cascade Stock Performance

Shares of BCC stock opened at $71.91 on Friday. The company has a current ratio of 3.10, a quick ratio of 1.69 and a debt-to-equity ratio of 0.22. The stock has a 50 day simple moving average of $73.48 and a 200-day simple moving average of $82.62. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 14.21, a price-to-earnings-growth ratio of 5.95 and a beta of 1.27. Boise Cascade, L.L.C. has a 12-month low of $65.14 and a 12-month high of $155.42.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Monday, November 3rd. The construction company reported $0.58 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.58. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.64 billion. Boise Cascade had a return on equity of 9.00% and a net margin of 2.96%.Boise Cascade’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.33 earnings per share. On average, equities analysts forecast that Boise Cascade, L.L.C. will post 10.15 EPS for the current 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 issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, December 1st. Boise Cascade’s dividend payout ratio (DPR) is currently 17.39%.

Analyst Ratings Changes

BCC has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Boise Cascade in a research note on Wednesday. Truist Financial decreased their price objective on Boise Cascade from $101.00 to $96.00 and set a “buy” rating for the company in a research report on Wednesday, September 17th. DA Davidson reissued a “buy” rating and issued a $95.00 target price on shares of Boise Cascade in a report on Thursday. The Goldman Sachs Group cut their price target on Boise Cascade from $96.00 to $82.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. Finally, BMO Capital Markets upgraded shares of Boise Cascade from a “market perform” rating to an “outperform” rating and set a $100.00 price objective on the stock in a research report on Wednesday, November 5th. Five equities research 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.