Assetmark Inc. Boosts Holdings in Boise Cascade, L.L.C. $BCC

Assetmark Inc. increased its holdings in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 18.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,009 shares of the construction company’s stock after buying an additional 11,014 shares during the period. Assetmark Inc.’s holdings in Boise Cascade were worth $5,490,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Cerity Partners LLC boosted its holdings in Boise Cascade by 3.8% in the second quarter. Cerity Partners LLC now owns 3,274 shares of the construction company’s stock valued at $284,000 after purchasing an additional 121 shares during the period. Raymond James Financial Inc. boosted its stake in shares of Boise Cascade by 1.0% in the 2nd quarter. Raymond James Financial Inc. now owns 13,219 shares of the construction company’s stock valued at $1,148,000 after buying an additional 126 shares during the period. CWM LLC grew its position in shares of Boise Cascade by 30.6% during the third quarter. CWM LLC now owns 747 shares of the construction company’s stock worth $58,000 after buying an additional 175 shares in the last quarter. Evergreen Capital Management LLC increased its stake in shares of Boise Cascade by 3.4% during the third quarter. Evergreen Capital Management LLC now owns 6,776 shares of the construction company’s stock worth $524,000 after buying an additional 224 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey boosted its holdings in Boise Cascade by 3.1% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 8,696 shares of the construction company’s stock valued at $755,000 after purchasing an additional 264 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Trading Down 0.4%

Shares of BCC stock opened at $86.13 on Wednesday. The firm’s 50 day moving average price is $80.89 and its two-hundred day moving average price is $78.86. The company has a quick ratio of 1.69, a current ratio of 3.10 and a debt-to-equity ratio of 0.22. Boise Cascade, L.L.C. has a fifty-two week low of $65.14 and a fifty-two week high of $121.52. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of 17.02 and a beta of 1.27.

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Monday, February 23rd will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Monday, February 23rd. Boise Cascade’s dividend payout ratio is 17.39%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. DA Davidson restated a “buy” rating and set a $95.00 price objective on shares of Boise Cascade in a research report on Thursday, November 20th. Truist Financial boosted their price objective on shares of Boise Cascade from $88.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. BMO Capital Markets restated an “outperform” rating on shares of Boise Cascade in a research note on Thursday, January 8th. Wall Street Zen lowered shares of Boise Cascade from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Finally, Weiss Ratings raised shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 28th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $101.83.

About Boise Cascade

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.