Assenagon Asset Management S.A. Cuts Stock Holdings in Boise Cascade (NYSE:BCC)

Assenagon Asset Management S.A. lowered its stake in Boise Cascade (NYSE:BCC) by 4.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,716 shares of the construction company’s stock after selling 726 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Boise Cascade were worth $1,868,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Harbor Capital Advisors Inc. bought a new stake in Boise Cascade in the third quarter worth $28,000. Larson Financial Group LLC grew its stake in shares of Boise Cascade by 23.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock worth $53,000 after buying an additional 73 shares in the last quarter. CWM LLC increased its holdings in shares of Boise Cascade by 26.5% in the 3rd quarter. CWM LLC now owns 673 shares of the construction company’s stock worth $95,000 after buying an additional 141 shares during the last quarter. Covestor Ltd raised its position in shares of Boise Cascade by 50.1% during the 3rd quarter. Covestor Ltd now owns 689 shares of the construction company’s stock valued at $97,000 after buying an additional 230 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of Boise Cascade by 19.0% in the 3rd quarter. KBC Group NV now owns 1,226 shares of the construction company’s stock valued at $173,000 after acquiring an additional 196 shares during the last quarter. Institutional investors own 96.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on BCC shares. BMO Capital Markets boosted their price objective on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Truist Financial cut their target price on Boise Cascade from $161.00 to $157.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. The Goldman Sachs Group decreased their price target on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Loop Capital assumed coverage on shares of Boise Cascade in a research note on Friday, November 1st. They set a “buy” rating and a $155.00 price objective for the company. Finally, StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $139.60.

Boise Cascade Stock Performance

BCC stock opened at $128.19 on Friday. Boise Cascade has a twelve month low of $113.38 and a twelve month high of $155.42. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of 12.54 and a beta of 1.58. The business’s fifty day simple moving average is $132.18 and its two-hundred day simple moving average is $133.40. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings results on Monday, November 4th. The construction company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.04). Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the prior year, the business earned $3.58 EPS. The company’s quarterly revenue was down 6.6% on a year-over-year basis. Analysts predict that Boise Cascade will post 9.6 earnings per share for the current year.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Monday, December 2nd. Boise Cascade’s dividend payout ratio is presently 8.22%.

Boise Cascade Profile

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.