Evergreen Capital Management LLC Raises Position in Boise Cascade, L.L.C. $BCC

Evergreen Capital Management LLC lifted its stake in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 3.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,428 shares of the construction company’s stock after purchasing an additional 259 shares during the period. Evergreen Capital Management LLC’s holdings in Boise Cascade were worth $729,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. increased its stake in shares of Boise Cascade by 93.7% during the 1st quarter. Blue Trust Inc. now owns 918 shares of the construction company’s stock worth $90,000 after purchasing an additional 444 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Boise Cascade by 60.6% during the 1st quarter. GAMMA Investing LLC now owns 1,458 shares of the construction company’s stock worth $143,000 after purchasing an additional 550 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Boise Cascade by 50.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 23,699 shares of the construction company’s stock worth $2,325,000 after buying an additional 7,983 shares during the period. D. E. Shaw & Co. Inc. bought a new position in Boise Cascade in the 4th quarter worth approximately $728,000. Finally, Deutsche Bank AG boosted its holdings in Boise Cascade by 69.0% in the 1st quarter. Deutsche Bank AG now owns 62,823 shares of the construction company’s stock worth $6,162,000 after buying an additional 25,656 shares during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Insider Activity

In other Boise Cascade news, COO Jeffrey Robert Strom sold 1,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $91.06, for a total value of $91,060.00. Following the completion of the transaction, the chief operating officer directly owned 37,026 shares of the company’s stock, valued at $3,371,587.56. This trade represents a 2.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jill Twedt sold 1,782 shares of the firm’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $83.97, for a total transaction of $149,634.54. Following the completion of the transaction, the senior vice president directly owned 32,867 shares of the company’s stock, valued at approximately $2,759,841.99. The trade was a 5.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,015 shares of company stock valued at $602,929 in the last quarter. 1.11% of the stock is currently owned by company insiders.

Boise Cascade Stock Down 0.4%

Shares of NYSE:BCC opened at $86.91 on Monday. The firm has a fifty day moving average price of $87.35 and a two-hundred day moving average price of $92.55. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.96 and a quick ratio of 1.54. Boise Cascade, L.L.C. has a one year low of $80.01 and a one year high of $155.42. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 5.18 and a beta of 1.33.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Monday, August 4th. The construction company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.05). Boise Cascade had a net margin of 4.00% and a return on equity of 12.26%. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the business earned $2.84 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. Analysts anticipate that Boise Cascade, L.L.C. will post 10.15 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.21. Boise Cascade’s payout ratio is 12.33%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BCC. Bank of America cut their price objective on shares of Boise Cascade from $111.00 to $107.00 and set a “buy” rating for the company in a report on Wednesday, July 9th. DA Davidson cut their price objective on shares of Boise Cascade from $115.00 to $100.00 and set a “buy” rating for the company in a report on Friday, July 18th. BMO Capital Markets cut their price objective on shares of Boise Cascade from $114.00 to $108.00 and set a “market perform” rating for the company in a report on Thursday, August 7th. Finally, Truist Financial cut their price objective on shares of Boise Cascade from $106.00 to $101.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.83.

About Boise Cascade

Boise Cascade Company engages in manufacture of wood products and distribution of building materials in the United States and Canada. It operates through two segments, Wood Products and Building Materials Distribution. The Wood Products segment manufactures laminated veneer lumber and laminated beams used in headers and beams; I-joists for residential and commercial flooring and roofing systems, and other structural applications; structural, appearance, and industrial plywood panels; and ponderosa pine shop lumber and appearance grade boards.