Legal & General Group Plc Makes New $6.74 Million Investment in Boise Cascade, L.L.C. $BCC

Legal & General Group Plc purchased a new position in Boise Cascade, L.L.C. (NYSE:BCC) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 86,782 shares of the construction company’s stock, valued at approximately $6,737,000.

Several other institutional investors and hedge funds have also made changes to their positions in BCC. Cerity Partners LLC increased its position in Boise Cascade by 3.8% during the 2nd quarter. Cerity Partners LLC now owns 3,274 shares of the construction company’s stock worth $284,000 after purchasing an additional 121 shares in the last quarter. Raymond James Financial Inc. lifted its stake in shares of Boise Cascade by 1.0% during the second quarter. Raymond James Financial Inc. now owns 13,219 shares of the construction company’s stock valued at $1,148,000 after buying an additional 126 shares during the period. Fifth Third Bancorp boosted its position in Boise Cascade by 77.5% during the fourth quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock worth $30,000 after acquiring an additional 179 shares during the last quarter. ProShare Advisors LLC grew its stake in Boise Cascade by 3.2% in the 4th quarter. ProShare Advisors LLC now owns 7,329 shares of the construction company’s stock worth $539,000 after acquiring an additional 226 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its holdings 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 valued at $29,000 after acquiring an additional 259 shares during the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on BCC shares. Zacks Research downgraded Boise Cascade from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. DA Davidson lifted their price target on Boise Cascade from $92.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. The Goldman Sachs Group upped their price objective on shares of Boise Cascade from $81.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Truist Financial set a $97.00 price objective on shares of Boise Cascade in a report on Wednesday, May 6th. Finally, Weiss Ratings raised shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 17th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $93.60.

Insider Buying and Selling

In other Boise Cascade news, SVP Jill Twedt sold 1,250 shares of Boise Cascade stock in a transaction that occurred 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 sale, the senior vice president directly owned 25,295 shares in the company, valued at $2,008,423. The trade was a 4.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kristopher J. Matula sold 1,930 shares of the 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 approximately $1,182,597.56. This trade represents a 12.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.42% of the stock is owned by company insiders.

Boise Cascade Stock Performance

Boise Cascade stock opened at $76.24 on Thursday. The firm has a market capitalization of $2.66 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 1.02 and a beta of 1.08. Boise Cascade, L.L.C. has a one year low of $65.00 and a one year high of $91.97. The stock’s 50 day moving average price is $79.04 and its 200 day moving average price is $76.38. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.31 and a current ratio of 2.71.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data 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 firm 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 firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.64 EPS. As a group, sell-side analysts expect that Boise Cascade, L.L.C. will post 3.86 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Tuesday, September 1st will be issued a $0.23 dividend. 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%. The ex-dividend date of this dividend is Tuesday, September 1st. Boise Cascade’s dividend payout ratio (DPR) is currently 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.