Peregrine Capital Management LLC Has $13.37 Million Holdings in Boise Cascade, L.L.C. $BCC

Peregrine Capital Management LLC cut its position in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 5.9% in the first quarter, Holdings Channel.com reports. The institutional investor owned 176,255 shares of the construction company’s stock after selling 11,004 shares during the period. Peregrine Capital Management LLC’s holdings in Boise Cascade were worth $13,369,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BCC. Caitong International Asset Management Co. Ltd increased its position in shares of Boise Cascade by 231.2% in 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. Fifth Third Bancorp lifted its position in shares of Boise Cascade by 77.5% in 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 stake in shares of Boise Cascade in the 3rd quarter valued at approximately $38,000. UMB Bank n.a. boosted its stake in Boise Cascade by 98.5% in the 4th quarter. UMB Bank n.a. now owns 524 shares of the construction company’s stock worth $39,000 after purchasing an additional 260 shares during the period. Finally, Signaturefd LLC boosted its stake in Boise Cascade by 5,866.7% in the 4th quarter. Signaturefd LLC now owns 537 shares of the construction company’s stock worth $40,000 after purchasing an additional 528 shares during the period. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Boise Cascade

In other news, SVP Jill Twedt sold 6,070 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $66.45, for a total transaction of $403,351.50. Following the transaction, the senior vice president owned 26,545 shares in the company, valued at approximately $1,763,915.25. This trade represents a 18.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.42% of the stock is currently owned by company insiders.

Boise Cascade Stock Performance

BCC stock opened at $77.59 on Wednesday. The firm has a 50 day simple moving average of $72.91 and a 200 day simple moving average of $76.90. Boise Cascade, L.L.C. has a 52 week low of $65.00 and a 52 week high of $95.00. The stock has a market cap of $2.73 billion, a P/E ratio of 26.21, a P/E/G ratio of 1.18 and a beta of 1.09. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.37 and a current ratio of 2.77.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data on Monday, May 4th. The construction company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.07. Boise Cascade had a net margin of 1.73% and a return on equity of 5.55%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the business earned $1.06 EPS. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. Research analysts anticipate that Boise Cascade, L.L.C. will post 3.67 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Monday, June 1st were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Monday, June 1st. Boise Cascade’s payout ratio is currently 29.73%.

Wall Street Analyst Weigh In

BCC has been the topic of several recent analyst reports. Weiss Ratings raised shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Truist Financial set a $97.00 target price on Boise Cascade in a research report on Wednesday, May 6th. Zacks Research upgraded Boise Cascade from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Finally, DA Davidson dropped their price target on Boise Cascade from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $98.00.

Boise Cascade 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.