Loading...
Docoh

Boise Cascade (BCC)

Boise Cascade Company is a focused company with a proven track record of providing quality wood products and a nationwide building materials distribution network for its customers. The Company is well-positioned to deliver value to its investors by managing its businesses to balance all the facets of true sustainability – social, environmental, and economic. The Company manufactures engineered wood products, plywood, lumber, and particleboard and distributes a broad line of building materials, including wood products manufactured by the company.

Company profile

Ticker
BCC
Exchange
Website
CEO
Nate Jorgensen
Employees
Incorporated
Location
Fiscal year end
Former names
BOISE CASCADE, L.L.C.
SEC CIK
Subsidiaries
Stack Rock Capital, L.L.C. • Boise Cascade Wood Products, L.L.C. • Louisiana Timber Procurement Company, L.L.C. • Boise Cascade Wood Products Holdings Corp. • Boise AllJoist LTD. • Boise Cascade Building Materials Distribution, L.L.C. • BMD Delanco Real Estate, L.L.C. ...
IRS number
201496201

BCC stock data

Analyst ratings and price targets

Last 3 months
Current price
Average target
$68.67
Low target
$64.00
High target
$72.00
B of A Securities
Maintains
Neutral
$72.00
20 Sep 22
Goldman Sachs
Maintains
Neutral
$70.00
3 Aug 22
Truist Securities
Initiated
Hold
$64.00
29 Jun 22

Calendar

1 Aug 22
28 Sep 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
8 Aug 22 Jeffrey Robert Strom Common Stock, par value $0.01 Sell Dispose S No No 71.0046 1,500 106.51K 29,393
5 Aug 22 Kelly E. Hibbs Common Stock, par value $0.01 Sell Dispose S No No 68.96 3,180 219.29K 40,736
5 May 22 Amy Humphreys Common Stock, par value $0.01 Grant Acquire A No No 0 1,235 0 1,235
92.3% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 285 295 -3.4%
Opened positions 38 51 -25.5%
Closed positions 48 33 +45.5%
Increased positions 120 108 +11.1%
Reduced positions 87 106 -17.9%
13F shares Current Prev Q Change
Total value 2.17B 2.54B -14.9%
Total shares 36.42M 35.8M +1.7%
Total puts 277.8K 113K +145.8%
Total calls 140K 187.6K -25.4%
Total put/call ratio 2.0 0.6 +229.4%
Largest owners Shares Value Change
BLK Blackrock 6.74M $400.99M +2.0%
Vanguard 5.06M $300.94M +1.3%
Dimensional Fund Advisors 2.54M $150.87M +4.1%
MCQEF Macquarie 2.11M $125.59M +4.5%
STT State Street 1.46M $86.8M +3.0%
Acadian Asset Management 1.09M $65.04M +5.1%
Wellington Management 991.82K $59M +2.5%
Geode Capital Management 772.15K $45.93M +9.6%
BAC Bank Of America 703.65K $41.86M +30.1%
Jacobs Levy Equity Management 697.06K $41.47M +8.7%
Largest transactions Shares Bought/sold Change
MS Morgan Stanley 548.57K +285.08K +108.2%
MNGPF Man 0 -221.54K EXIT
FMR 302.85K +218.13K +257.5%
JPM JPMorgan Chase & Co. 480.17K +170.71K +55.2%
Parametric Portfolio Associates 0 -166.01K EXIT
RAT Rathbone Brothers 609.68K -164.77K -21.3%
BAC Bank Of America 703.65K +162.71K +30.1%
PRU Prudential Financial 324.57K +158.97K +96.0%
NTRS Northern Trust 580.44K -137.66K -19.2%
BLK Blackrock 6.74M +130.72K +2.0%

Financial report summary

?
Risks
  • Our industry is highly competitive. If we are unable to compete effectively, our sales, operating results, and growth strategies could be negatively affected.
  • Some of our products are vulnerable to declines in demand due to competing technologies or materials, as well as changes in building code provisions.
  • The ongoing COVID-19 pandemic, restrictions intended to prevent its spread, resulting economic conditions, and potential new regulations concerning mandatory COVID-19 vaccination continue to evolve and may adversely affect our business and results of operations.
  • Cyber security risks related to the technology used in our operations and other business processes, as well as security breaches of company, customer, employee, and vendor information, could adversely affect our business.
  • Labor disruptions, shortages of skilled and technical labor, or increased labor costs could adversely affect our business.
  • We may be unable to attract and retain key management and other key employees.
  • Product shortages, loss of key suppliers, and our dependence on third-party suppliers and manufacturers could affect our financial health.
  • We depend on third parties for transportation services and limited availability or increases in costs of transportation could adversely affect our business and operations.
  • Our manufacturing operations may have difficulty obtaining wood fiber at favorable prices or at all.
  • Our strategy includes pursuing acquisitions. We may be unable to efficiently integrate acquired operations or realize expected benefits from such acquisitions.
  • A significant portion of our sales are concentrated with a small number of customers.
  • Adverse market conditions, including the inability of our customers to conduct operations due to the ongoing COVID-19 pandemic, may increase the credit risk from our customers.
  • Our long-lived assets, goodwill, and/or intangible assets may become impaired, which may require us to record non-cash impairment charges that could have a material impact on our results of operations.
  • Our operations require substantial capital, and recent significant capital investments and acquisitions have increased fixed costs, which could negatively affect our profitability.
  • Our ability to service our indebtedness or to fund our other liquidity needs is subject to various risks.
  • Compliance with data privacy and security laws and regulations could adversely affect our business.
  • The impacts of climate change, and related legislative and regulatory responses intended to reduce climate change, may adversely impact our business.
  • We are subject to environmental regulation and environmental compliance expenditures, as well as other potential environmental liabilities.
  • The enactment of tax reform legislation could adversely impact our financial position and results of operations.
  • The price of our common stock may fluctuate significantly.
Management Discussion
  •     For the year ended December 31, 2021, total sales increased $2,451.3 million, or 45%, to $7,926.1 million from $5,474.8 million during the year ended December 31, 2020. As described below, the increase in sales was driven by the changes in sales prices and volumes for the products we manufacture and distribute with single-family residential construction activity being the key demand driver for our sales. During 2021, U.S. housing starts increased 16%, with single-family starts up 14%, compared with 2020. For the year ended December 31, 2021, average composite panel and average composite lumber prices were 84% and 49% higher, respectively, compared with the same period in the prior year, as reflected by Random Lengths composite panel and lumber pricing. These increases in composite commodity pricing, as well as price increases across EWP and general line products, resulted in higher sales in both of our segments, as noted below.

Content analysis

?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Good
New words: acquisition, Alabama, attention, authorization, authorized, broadly, CFRC, Chapman, Coastal, combat, competitor, deal, diligence, division, downtime, essentially, expand, Florida, Forest, geographically, great, Havana, high, homeowner, incomplete, inflation, involve, LBM, manner, open, opportunistic, optimize, Oregon, Pacific, personnel, pursuing, realize, resolvable, slowdown, Southwest, specialty, staffing, subsidiary, supplier, tempered, unforeseen, unknown, weakening, Western, Woodtech
Removed: ago, April, Blue, build, Chip, continuation, extend, Florien, forecasted, guidance, impacted, induced, national, negotiation, Oakdale, pending, remain, restoration, strong

Patents

Utility
Method and system for layered wood product production
27 Sep 22
A method and system for production of layered wood products employs local and independently operating robotic panel assembly cells including one or more veneer handling robots, one or more core handling robots, and one or more glue application robots to produce stacks of layered wood product panels locally near the pressing stations.
Utility
Method and system for detecting moisture levels in wood products using near infrared imaging and machine learning
13 Sep 22
Near InfraRed NIR technology, including NIR cameras and detectors, and machine learning methods and systems, including one or more Machine Learning (ML) based moisture level detection models, are used to accurately identify moisture content and the specific locations of the moisture on an entire surface of a veneer sheet or other wood product and provide moisture level prediction data for the veneer sheet or other wood product.
Utility
Method and system for moisture grading wood products using superimposed near infrared and visual images
13 Sep 22
Near InfraRed NIR technology, including NIR cameras and detectors, and one or more visual cameras are used to generate superimposed image data representing a visual/NIR composite image of wood product and correlating moisture levels with physical features of the surfaces of the wood product.
Utility
Method for manufacturing wood products formed from natural veneer sheets and veneer strands
16 Aug 22
A method of manufacturing includes cutting a first natural or non-composite veneer sheet to a first length, cutting a second natural or non-composite veneer sheet to the first length, coating an inner surface of the first natural or non-composite veneer sheet with an adhering means, coating an inner surface of the second natural or non-composite veneer sheet with an adhering means, coating a plurality of veneer strands with an adhering means, placing the plurality of veneer strands on the inner surface of the first natural or non-composite veneer sheet, placing the second natural or non-composite veneer sheet on top of the plurality of veneer strands to create a mat, compressing the mat in an unheated pre-press, and compressing the mat in a hot press at an elevated temperature to create a panel.
Utility
Method and System to Determine Strength of Dry Wood Products Using Near Infrared Imaging
28 Jul 22
Near InfraRed NIR technology, including NIR cameras and detectors, is used to accurately identify moisture content, the specific locations of the moisture on an entire surface of a dry veneer sheet or other wood product, and the strength of the dry veneer sheet or other wood product.