Jupiter Topco LLC Purchases New Position in Boise Cascade, L.L.C. $BCC

Jupiter Topco LLC acquired a new position in shares of Boise Cascade, L.L.C. (NYSE:BCC) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 16,356 shares of the construction company’s stock, valued at approximately $1,270,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BCC. Hsbc Holdings PLC purchased a new stake in shares of Boise Cascade during the 2nd quarter valued at about $1,616,000. Canada Pension Plan Investment Board purchased a new position in Boise Cascade in the second quarter worth about $2,282,000. Legal & General Group Plc bought a new stake in Boise Cascade during the second quarter worth approximately $6,737,000. The Manufacturers Life Insurance Company bought a new stake in Boise Cascade during the second quarter worth approximately $1,375,000. Finally, Paradigm Capital Management Inc. NY purchased a new stake in Boise Cascade during the second quarter valued at approximately $8,134,000. 96.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Boise Cascade

In other Boise Cascade news, SVP Jill Twedt sold 1,250 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $79.40, for a total value of $99,250.00. Following the completion of the sale, the senior vice president directly owned 25,295 shares in the company, valued at approximately $2,008,423. This represents a 4.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kristopher Matula sold 1,930 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $1,182,597.56. This represents a 12.13% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.42% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on BCC. Zacks Research lowered Boise Cascade from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Wall Street Zen upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. 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. Bank of America lifted their price target on shares of Boise Cascade from $80.00 to $81.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 14th. Finally, The Goldman Sachs Group upped their price target on shares of Boise Cascade from $81.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Boise Cascade presently has an average rating of “Hold” and an average target price of $93.60.

Boise Cascade Price Performance

Boise Cascade stock opened at $79.27 on Friday. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of 26.87, a price-to-earnings-growth ratio of 1.04 and a beta of 1.08. 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, L.L.C. has a 1 year low of $65.00 and a 1 year high of $91.97. The firm has a 50-day moving average of $78.95 and a two-hundred day moving average of $76.33.

Boise Cascade (NYSE:BCC) last issued its earnings results on Monday, August 3rd. The construction company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.40. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.77 billion. Boise Cascade had a net margin of 1.64% and a return on equity of 5.41%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company posted $1.64 earnings per share. On average, research analysts forecast that Boise Cascade, L.L.C. will post 3.86 earnings per share for the current year.

Boise Cascade Increases Dividend

The company 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. This is a boost from Boise Cascade’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.92 dividend on an annualized basis and a yield of 1.2%. Boise Cascade’s dividend payout ratio is presently 31.19%.

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.