Medina Value Partners LLC Acquires New Shares in Boise Cascade, L.L.C. $BCC

Medina Value Partners LLC acquired a new stake in Boise Cascade, L.L.C. (NYSE:BCC) during the 2nd quarter, Holdings Channel reports. The fund acquired 230,042 shares of the construction company’s stock, valued at approximately $17,858,160,000. Boise Cascade makes up approximately 3.5% of Medina Value Partners LLC’s portfolio, making the stock its 14th biggest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BCC. Royal Bank of Canada lifted its holdings in shares of Boise Cascade by 4.0% in the first quarter. Royal Bank of Canada now owns 34,704 shares of the construction company’s stock worth $3,404,000 after acquiring an additional 1,332 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Boise Cascade by 8.8% in the 1st quarter. AQR Capital Management LLC now owns 36,639 shares of the construction company’s stock valued at $3,594,000 after purchasing an additional 2,966 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Boise Cascade by 1,638.4% during the 1st quarter. Jones Financial Companies Lllp now owns 4,120 shares of the construction company’s stock valued at $404,000 after purchasing an additional 3,883 shares during the last quarter. United Services Automobile Association bought a new stake in shares of Boise Cascade during the 1st quarter valued at approximately $258,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Boise Cascade by 2.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 203,631 shares of the construction company’s stock worth $19,974,000 after purchasing an additional 3,978 shares in the last quarter. Institutional investors own 96.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BCC shares. Bank of America increased their price objective on shares of Boise Cascade from $80.00 to $81.00 and gave the company an “underperform” rating in a research note on Tuesday, July 14th. Weiss Ratings raised shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, August 17th. Wall Street Zen upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. The Goldman Sachs Group increased their price target on Boise Cascade from $81.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Finally, Zacks Research downgraded Boise Cascade from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Three 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 MarketBeat.com, Boise Cascade currently has a consensus rating of “Hold” and an average price target of $93.60.

Boise Cascade Stock Performance

Boise Cascade stock opened at $81.18 on Wednesday. The business 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 1 year low of $65.00 and a 1 year high of $91.97. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.71 and a quick ratio of 1.31. The company has a market capitalization of $2.83 billion, a P/E ratio of 27.52, a P/E/G ratio of 1.11 and a beta of 1.10.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Monday, August 3rd. The construction company reported $1.63 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the business earned $1.64 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. On average, equities research analysts predict that Boise Cascade, L.L.C. will post 3.86 earnings per share for the current year.

Boise Cascade Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase from Boise Cascade’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 1.1%. Boise Cascade’s payout ratio is 29.83%.

Insider Activity

In other news, Director Kristopher J. Matula sold 1,930 shares of Boise Cascade stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total transaction of $163,239.40. Following the transaction, the director owned 13,982 shares in the company, valued at approximately $1,182,597.56. The trade was a 12.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.42% of the company’s stock.

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.