Assenagon Asset Management S.A. Sells 726 Shares of Boise Cascade (NYSE:BCC)

Assenagon Asset Management S.A. trimmed its holdings in Boise Cascade (NYSE:BCC) by 4.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,716 shares of the construction company’s stock after selling 726 shares during the period. Assenagon Asset Management S.A.’s holdings in Boise Cascade were worth $1,868,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Fulcrum Capital LLC purchased a new position in Boise Cascade during the fourth quarter valued at approximately $1,092,000. Oliver Luxxe Assets LLC grew its position in shares of Boise Cascade by 5.4% during the 4th quarter. Oliver Luxxe Assets LLC now owns 41,071 shares of the construction company’s stock valued at $4,882,000 after purchasing an additional 2,097 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Boise Cascade by 5.0% in the fourth quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company’s stock worth $14,454,000 after purchasing an additional 5,779 shares during the period. Franklin Resources Inc. raised its position in shares of Boise Cascade by 0.8% in the third quarter. Franklin Resources Inc. now owns 43,958 shares of the construction company’s stock worth $6,285,000 after buying an additional 335 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in Boise Cascade by 341.9% during the third quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock valued at $2,229,000 after buying an additional 12,231 shares during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Stock Performance

BCC opened at $128.19 on Friday. The company’s 50 day moving average is $132.18 and its 200 day moving average is $133.40. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 12.54 and a beta of 1.58. Boise Cascade has a 12-month low of $113.38 and a 12-month high of $155.42.

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

Boise Cascade Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Monday, December 2nd. Boise Cascade’s dividend payout ratio (DPR) is 8.22%.

Wall Street Analyst Weigh In

BCC has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Truist Financial cut their price objective on Boise Cascade from $161.00 to $157.00 and set a “buy” rating for the company in a report on Monday, January 6th. The Goldman Sachs Group decreased their price objective on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. BMO Capital Markets upped their target price 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. Finally, Loop Capital began coverage on shares of Boise Cascade in a research note on Friday, November 1st. They set a “buy” rating and a $155.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $139.60.

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.