Concentric Capital Strategies LP Buys 284,406 Shares of Boise Cascade, L.L.C. $BCC

Concentric Capital Strategies LP lifted its stake in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 202.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 425,179 shares of the construction company’s stock after purchasing an additional 284,406 shares during the period. Boise Cascade accounts for about 1.5% of Concentric Capital Strategies LP’s portfolio, making the stock its 6th largest position. Concentric Capital Strategies LP’s holdings in Boise Cascade were worth $31,293,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in BCC. Norges Bank acquired a new position in shares of Boise Cascade during the 4th quarter worth $42,146,000. Wellington Management Group LLP grew its stake in shares of Boise Cascade by 19.8% during the 3rd quarter. Wellington Management Group LLP now owns 3,268,407 shares of the construction company’s stock worth $252,713,000 after purchasing an additional 539,962 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Boise Cascade by 214,282.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 420,189 shares of the construction company’s stock worth $30,926,000 after purchasing an additional 419,993 shares during the period. Two Sigma Investments LP grew its stake in shares of Boise Cascade by 377.6% during the 3rd quarter. Two Sigma Investments LP now owns 292,556 shares of the construction company’s stock worth $22,620,000 after purchasing an additional 231,302 shares during the period. Finally, Medina Value Partners LLC acquired a new position in shares of Boise Cascade during the 4th quarter worth $16,722,000. 96.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Boise Cascade news, SVP Jill Twedt sold 6,070 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $66.45, for a total transaction of $403,351.50. Following the sale, the senior vice president directly owned 26,545 shares of the company’s stock, valued at $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 is accessible through this link. 1.42% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BCC shares. 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. Zacks Research raised shares of Boise Cascade from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Wall Street Zen raised shares of Boise Cascade from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. DA Davidson lowered their price objective on shares of Boise Cascade from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Finally, The Goldman Sachs Group increased their price objective on shares of Boise Cascade from $85.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Boise Cascade currently has a consensus rating of “Moderate Buy” and an average price target of $98.00.

Boise Cascade Price Performance

Shares of NYSE BCC opened at $70.80 on Thursday. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 1.07 and a beta of 1.09. Boise Cascade, L.L.C. has a 52 week low of $65.00 and a 52 week high of $95.00. The company’s 50-day moving average price is $73.51 and its 200 day moving average price is $76.78. The company has a current ratio of 2.77, a quick ratio of 1.37 and a debt-to-equity ratio of 0.24.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Monday, May 4th. The construction company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.07. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Boise Cascade had a net margin of 1.73% and a return on equity of 5.55%. The firm’s revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.06 EPS. As a group, research analysts forecast 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 disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Monday, June 1st were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Monday, June 1st. Boise Cascade’s dividend payout ratio is presently 29.73%.

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.