JPMorgan Chase & Co. Grows Holdings in Boise Cascade, L.L.C. $BCC

JPMorgan Chase & Co. lifted its position in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 7.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 347,301 shares of the construction company’s stock after acquiring an additional 25,452 shares during the quarter. JPMorgan Chase & Co.’s holdings in Boise Cascade were worth $26,853,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in Boise Cascade in the 2nd quarter worth about $39,818,000. Bank of America Corp DE raised its stake in shares of 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 worth $36,260,000 after buying an additional 181,025 shares during the period. Westwood Holdings Group Inc. lifted its position in shares of 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 in the last quarter. M&G PLC acquired a new stake in Boise Cascade in the 2nd quarter valued at $8,984,000. Finally, Peregrine Capital Management LLC increased its holdings in Boise Cascade by 89.2% in the 3rd quarter. Peregrine Capital Management LLC now owns 140,457 shares of the construction company’s stock worth $10,860,000 after acquiring an additional 66,239 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Wall Street Analysts Forecast Growth

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 report on Wednesday, January 28th. The Goldman Sachs Group lifted their price objective on Boise Cascade from $85.00 to $94.00 and gave the stock a “neutral” rating in a report on Wednesday. Truist Financial boosted their price objective on Boise Cascade from $92.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday. Wall Street Zen upgraded Boise Cascade from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Boise Cascade in a research note on Thursday, January 8th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Boise Cascade has an average rating of “Moderate Buy” and a consensus target price of $105.67.

Boise Cascade Price Performance

BCC stock opened at $82.63 on Friday. Boise Cascade, L.L.C. has a 1 year low of $65.14 and a 1 year high of $106.41. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.36 and a quick ratio of 1.69. The firm has a market capitalization of $2.95 billion, a PE ratio of 23.47 and a beta of 1.27. The business has a 50 day simple moving average of $82.08 and a 200-day simple moving average of $78.91.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Monday, February 23rd will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, February 23rd. Boise Cascade’s payout ratio is currently 25.00%.

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.