Hsbc Holdings PLC Buys Shares of 20,643 Boise Cascade, L.L.C. $BCC

Hsbc Holdings PLC bought a new stake in Boise Cascade, L.L.C. (NYSE:BCC) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 20,643 shares of the construction company’s stock, valued at approximately $1,616,000.

Several other institutional investors have also made changes to their positions in BCC. Caitong International Asset Management Co. Ltd lifted its position in Boise Cascade by 231.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock worth $29,000 after buying an additional 259 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Boise Cascade by 77.5% during the 4th quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock valued at $30,000 after acquiring an additional 179 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Boise Cascade during the 3rd quarter valued at $38,000. UMB Bank n.a. increased its stake in shares of Boise Cascade by 98.5% in the fourth quarter. UMB Bank n.a. now owns 524 shares of the construction company’s stock worth $39,000 after acquiring an additional 260 shares during the last quarter. Finally, iSAM Funds UK Ltd acquired a new position in shares of Boise Cascade in the third quarter worth $44,000. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Boise Cascade Price Performance

Shares of NYSE:BCC opened at $78.52 on Monday. Boise Cascade, L.L.C. has a fifty-two week low of $65.00 and a fifty-two week high of $91.97. The business has a 50-day moving average of $78.88 and a two-hundred day moving average of $76.64. The stock has a market capitalization of $2.74 billion, a P/E ratio of 26.62, a P/E/G ratio of 1.06 and a beta of 1.10. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.71 and a quick ratio of 1.31.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Monday, August 3rd. The construction company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.40. Boise Cascade had a return on equity of 5.41% and a net margin of 1.64%.The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the company posted $1.64 EPS. The firm’s 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 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Tuesday, September 1st will be given 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 dividend on an annualized basis and a yield of 1.2%. Boise Cascade’s dividend payout ratio (DPR) is currently 31.19%.

Insider Buying and Selling

In other news, Director Kristopher J. Matula sold 1,930 shares of Boise Cascade stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total value of $163,239.40. Following the transaction, the director owned 13,982 shares of the company’s stock, valued at $1,182,597.56. This trade represents a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jill Twedt sold 1,250 shares of the business’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $79.40, for a total transaction of $99,250.00. Following the completion of the sale, the senior vice president owned 25,295 shares of the company’s stock, valued at $2,008,423. The trade was a 4.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.42% of the company’s stock.

Wall Street Analysts Forecast Growth

BCC has been the subject of a number of research reports. Bank of America lifted their price objective on Boise Cascade from $80.00 to $81.00 and gave the company an “underperform” rating in a research report on Tuesday, July 14th. The Goldman Sachs Group raised their price target on Boise Cascade from $81.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Wall Street Zen upgraded Boise Cascade from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings raised Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, August 17th. Finally, Truist Financial set a $97.00 price objective on Boise Cascade in a report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $93.60.

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.