15 Best Lumber Stocks To Buy Now

05. Boise Cascade Company (NYSE:BCC)

Number of Hedge Fund Holders: 24

Boise Cascade Company (NYSE:BCC) manufactures wood products and distributes building materials across the U.S. and Canada, operating through the Wood Products and Building Materials Distribution segments. The Wood Products segment specializes in laminated veneer lumber and beams. In the latest earnings report from May 6, Boise Cascade Company (NYSE:BCC) reported a normalized EPS of $2.61, surpassing expectations by $0.33. Revenue reached $1.65 billion, beating projections by $82.00 million. The company’s forward dividend yield is 4.11%, with an annual payout of $5.80 and a payout ratio of 6.10%. Over the past five years, the dividend growth rate has been 18.66%, and the company has consistently grown its dividend for six years.

In the first quarter of 2024, the number of hedge funds with stakes in Boise Cascade Company (NYSE:BCC) stood same at 24 as in the previous quarter, according to Insider Monkey’s database. The combined value of these stakes is approximately $176.46 million. Steve Cohen’s Point72 Asset Management emerged as the largest stakeholder among these hedge funds during this period.

Miller Value Partners Income Strategy stated the following regarding Boise Cascade Company (NYSE:BCC) in its fourth quarter 2023 investor letter:

“During the fourth quarter, we eliminated two positions comprising approximately 6% of the portfolio where new information suggested that our investment thesis was wrong. As active managers, we are able to proactively make adjustments in the portfolio, a key difference from strategies that are rebalanced to a benchmark on a set frequency. Two new additions included a starter position in wood products maker Boise Cascade Company (NYSE:BCC) as well as the debt of Gray Television, a top operator of local television stations. We think Boise Cascade is a good business trading at a compelling valuation with a fortress balance sheet, while we believe markets are too pessimistic on Gray Television’s staying power.”