JPMorgan Chase & Co. Acquires 25,452 Shares of Boise Cascade, L.L.C. $BCC

JPMorgan Chase & Co. lifted its holdings in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 7.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 347,301 shares of the construction company’s stock after acquiring an additional 25,452 shares during the period. JPMorgan Chase & Co.’s holdings in Boise Cascade were worth $26,853,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Salomon & Ludwin LLC acquired a new stake in Boise Cascade in the third quarter valued at about $28,000. Caitong International Asset Management Co. Ltd raised its stake in Boise Cascade by 231.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock worth $29,000 after acquiring an additional 259 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Boise Cascade by 1,071.4% in the third quarter. Hantz Financial Services Inc. now owns 492 shares of the construction company’s stock worth $38,000 after acquiring an additional 450 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Boise Cascade in the third quarter worth about $38,000. Finally, iSAM Funds UK Ltd acquired a new stake in shares of Boise Cascade in the 3rd quarter valued at approximately $44,000. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Trading Up 5.2%

NYSE:BCC opened at $71.86 on Tuesday. The firm’s fifty day moving average is $81.36 and its 200-day moving average is $77.33. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.74 and a current ratio of 3.36. Boise Cascade, L.L.C. has a 52 week low of $65.14 and a 52 week high of $103.44. The firm has a market cap of $2.58 billion, a P/E ratio of 20.42, a P/E/G ratio of 0.98 and a beta of 1.26.

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Monday, February 23rd were issued a $0.22 dividend. The ex-dividend date was Monday, February 23rd. This represents a $0.88 annualized dividend and a yield of 1.2%. Boise Cascade’s payout ratio is presently 25.00%.

Analysts Set New Price Targets

BCC has been the topic of several research reports. DA Davidson reaffirmed a “buy” rating and set a $95.00 price target on shares of Boise Cascade in a report on Tuesday, February 24th. Weiss Ratings downgraded shares of Boise Cascade from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 13th. Wall Street Zen upgraded shares of Boise Cascade from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Boise Cascade in a research note on Thursday, January 8th. Finally, Truist Financial upped their price target on shares of Boise Cascade from $92.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $105.67.

About Boise Cascade

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.