KLP Kapitalforvaltning AS Acquires 10,400 Shares of Boise Cascade, L.L.C. $BCC

KLP Kapitalforvaltning AS increased its stake in Boise Cascade, L.L.C. (NYSE:BCC) by 15.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 77,500 shares of the construction company’s stock after purchasing an additional 10,400 shares during the quarter. KLP Kapitalforvaltning AS owned about 0.21% of Boise Cascade worth $5,992,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in BCC. Norges Bank bought a new stake in Boise Cascade during the second quarter valued at approximately $39,818,000. Bank of America Corp DE boosted its position in Boise Cascade by 76.5% during the 2nd quarter. Bank of America Corp DE now owns 417,642 shares of the construction company’s stock valued at $36,260,000 after buying an additional 181,025 shares during the period. Westwood Holdings Group Inc. boosted its position in Boise Cascade by 9.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,645,026 shares of the construction company’s stock valued at $142,821,000 after buying an additional 145,721 shares during the period. M&G PLC bought a new stake in Boise Cascade in the 2nd quarter worth $8,984,000. Finally, American Century Companies Inc. grew its holdings in Boise Cascade by 4.5% in the 2nd quarter. American Century Companies Inc. now owns 1,281,435 shares of the construction company’s stock worth $111,254,000 after acquiring an additional 55,052 shares during the last quarter. Institutional investors own 96.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BCC shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Boise Cascade in a report on Monday, December 29th. DA Davidson reaffirmed a “buy” rating and set a $95.00 price target on shares of Boise Cascade in a research report on Thursday, November 20th. Truist Financial lifted their price objective on Boise Cascade from $88.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday. Wall Street Zen cut Boise Cascade from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Finally, The Goldman Sachs Group decreased their target price on Boise Cascade from $96.00 to $82.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $101.83.

Boise Cascade Stock Up 6.5%

BCC stock opened at $83.07 on Friday. Boise Cascade, L.L.C. has a fifty-two week low of $65.14 and a fifty-two week high of $131.27. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 16.42 and a beta of 1.27. The business’s 50 day moving average price is $73.42 and its two-hundred day moving average price is $79.53. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.69 and a current ratio of 3.10.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Monday, November 3rd. The construction company reported $0.58 earnings per share for the quarter, meeting the consensus estimate of $0.58. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.64 billion. Boise Cascade had a return on equity of 9.00% and a net margin of 2.96%.The firm’s revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.33 earnings per share. As a group, analysts forecast that Boise Cascade, L.L.C. will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Monday, December 1st were given a $0.22 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.1%. Boise Cascade’s dividend payout ratio is currently 17.39%.

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.