Boise Cascade (NYSE:BCC) Position Lifted by Meeder Asset Management Inc.

Meeder Asset Management Inc. grew its stake in Boise Cascade (NYSE:BCC) by 22.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 34,088 shares of the construction company’s stock after purchasing an additional 6,297 shares during the period. Meeder Asset Management Inc.’s holdings in Boise Cascade were worth $4,052,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of BCC. Norges Bank bought a new stake in Boise Cascade in the fourth quarter valued at about $55,680,000. American Century Companies Inc. grew its position in shares of Boise Cascade by 12.0% in the 4th quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock worth $134,831,000 after acquiring an additional 121,790 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Boise Cascade by 1,597.4% in the 3rd quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock valued at $17,907,000 after acquiring an additional 119,103 shares during the last quarter. FMR LLC raised its position in shares of Boise Cascade by 158.9% during the 3rd quarter. FMR LLC now owns 126,123 shares of the construction company’s stock valued at $17,781,000 after acquiring an additional 77,401 shares in the last quarter. Finally, Barclays PLC lifted its stake in Boise Cascade by 174.1% during the third quarter. Barclays PLC now owns 90,366 shares of the construction company’s stock worth $12,739,000 after purchasing an additional 57,403 shares during the last quarter. Institutional investors own 96.18% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on BCC shares. DA Davidson lowered their target price on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a research note on Monday, February 24th. BMO Capital Markets dropped their price objective on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 25th. Benchmark restated a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Truist Financial dropped their price target on Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Finally, Loop Capital cut their price target on Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $128.50.

Insider Buying and Selling at Boise Cascade

In other news, Director Kristopher J. Matula sold 553 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total value of $57,047.48. Following the completion of the transaction, the director now directly owns 13,099 shares in the company, valued at $1,351,292.84. This trade represents a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jeffrey Robert Strom sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total value of $450,945.00. Following the sale, the chief operating officer now directly owns 38,026 shares in the company, valued at approximately $3,810,585.46. The trade was a 10.58 % decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is owned by corporate insiders.

Boise Cascade Stock Performance

Shares of NYSE BCC opened at $98.28 on Monday. Boise Cascade has a 12-month low of $95.33 and a 12-month high of $155.42. The company has a market cap of $3.73 billion, a PE ratio of 10.28 and a beta of 1.67. The stock has a 50 day simple moving average of $112.29 and a 200-day simple moving average of $127.39. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.57 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. On average, equities research analysts forecast that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, February 24th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.85%. Boise Cascade’s dividend payout ratio is presently 8.79%.

Boise Cascade Company 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.