First Eagle Investment Management LLC Raises Stock Holdings in Boise Cascade, L.L.C. $BCC

First Eagle Investment Management LLC grew its position in Boise Cascade, L.L.C. (NYSE:BCC) by 13.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 193,208 shares of the construction company’s stock after acquiring an additional 22,900 shares during the quarter. First Eagle Investment Management LLC’s holdings in Boise Cascade were worth $14,999,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Caitong International Asset Management Co. Ltd increased its holdings in shares of 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 period. Fifth Third Bancorp grew its position in Boise Cascade by 77.5% during the 4th quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock worth $30,000 after purchasing an additional 179 shares during the last quarter. Advisory Services Network LLC acquired a new position in Boise Cascade in the third quarter valued at $38,000. UMB Bank n.a. raised its holdings in shares of Boise Cascade by 98.5% in the fourth quarter. UMB Bank n.a. now owns 524 shares of the construction company’s stock valued at $39,000 after buying an additional 260 shares during the last quarter. Finally, iSAM Funds UK Ltd purchased a new stake in shares of Boise Cascade in the third quarter valued at about $44,000. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Boise Cascade Stock Up 0.1%

Boise Cascade stock opened at $79.27 on Monday. The stock’s 50 day moving average price is $78.95 and its 200 day moving average price is $76.26. Boise Cascade, L.L.C. has a 1-year low of $65.00 and a 1-year high of $91.97. The company has a market cap of $2.77 billion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 1.07 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 (NYSE:BCC) last released its earnings results on Monday, August 3rd. The construction company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.40. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.77 billion. Boise Cascade had a return on equity of 5.41% and a net margin of 1.64%.Boise Cascade’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.64 earnings per share. On average, sell-side analysts predict that Boise Cascade, L.L.C. will post 3.86 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.23 per share. 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 payout ratio is presently 31.19%.

Analyst Ratings Changes

Several equities analysts recently issued reports on BCC shares. Weiss Ratings upgraded Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 17th. Zacks Research lowered shares of Boise Cascade from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. The Goldman Sachs Group lifted their price objective on shares of Boise Cascade from $81.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Wall Street Zen raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, DA Davidson upped their price objective on shares of Boise Cascade from $92.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Boise Cascade currently has a consensus rating of “Hold” and a consensus target price of $93.60.

Insider Activity

In other Boise Cascade news, Director Kristopher J. Matula sold 1,930 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total transaction of $163,239.40. Following the sale, the director directly owned 13,982 shares in the company, valued at approximately $1,182,597.56. The trade was a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jill Twedt sold 1,250 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were 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 $2,008,423. This trade represents a 4.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.42% of the company’s stock.

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.