Boise Cascade, L.L.C. $BCC Position Reduced by Nordea Investment Management AB

Nordea Investment Management AB reduced its stake in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 11.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 110,915 shares of the construction company’s stock after selling 14,824 shares during the quarter. Nordea Investment Management AB’s holdings in Boise Cascade were worth $8,209,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Royal Bank of Canada lifted its position in shares of Boise Cascade by 4.0% during the first quarter. Royal Bank of Canada now owns 34,704 shares of the construction company’s stock worth $3,404,000 after purchasing an additional 1,332 shares during the last quarter. AQR Capital Management LLC grew its stake in Boise Cascade by 8.8% in the first quarter. AQR Capital Management LLC now owns 36,639 shares of the construction company’s stock worth $3,594,000 after purchasing an additional 2,966 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Boise Cascade by 1,638.4% in the first quarter. Jones Financial Companies Lllp now owns 4,120 shares of the construction company’s stock valued at $404,000 after buying an additional 3,883 shares during the last quarter. United Services Automobile Association bought a new stake in Boise Cascade in the first quarter valued at about $258,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Boise Cascade by 2.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 203,631 shares of the construction company’s stock valued at $19,974,000 after buying an additional 3,978 shares in the last quarter. Institutional investors own 96.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BCC. Truist Financial lifted their target price on Boise Cascade from $92.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. The Goldman Sachs Group upped their price target on Boise Cascade from $85.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. DA Davidson restated a “buy” rating and set a $95.00 price objective on shares of Boise Cascade in a research note on Tuesday, February 24th. Weiss Ratings downgraded shares of Boise Cascade from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 13th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Boise Cascade in a research note on Thursday, January 8th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $105.67.

Boise Cascade Stock Performance

Shares of BCC stock opened at $74.71 on Thursday. The company has a quick ratio of 1.74, a current ratio of 3.36 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average of $80.97 and a two-hundred day moving average of $77.20. Boise Cascade, L.L.C. has a 52 week low of $65.14 and a 52 week high of $102.26. The company has a market cap of $2.68 billion, a P/E ratio of 21.22, a PEG ratio of 1.05 and a beta of 1.26.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Monday, February 23rd were issued a $0.22 dividend. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $0.88 annualized dividend and a dividend yield of 1.2%. Boise Cascade’s dividend payout ratio (DPR) is 25.00%.

Boise Cascade Profile

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company’s operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.