Allspring Global Investments Holdings LLC Has $8.24 Million Stake in Boise Cascade (NYSE:BCC)

Allspring Global Investments Holdings LLC reduced its holdings in Boise Cascade (NYSE:BCC) by 21.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,956 shares of the construction company’s stock after selling 19,207 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.18% of Boise Cascade worth $8,238,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Tidal Investments LLC grew its stake in shares of 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 purchasing an additional 12,231 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Boise Cascade by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock valued at $61,680,000 after purchasing an additional 9,128 shares in the last quarter. Fulcrum Capital LLC acquired a new stake in Boise Cascade in the fourth quarter worth $1,092,000. Nordea Investment Management AB boosted its position in shares of Boise Cascade by 5.0% during 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 in the last quarter. Finally, Barclays PLC grew its holdings in shares of Boise Cascade by 174.1% in the 3rd quarter. Barclays PLC now owns 90,366 shares of the construction company’s stock valued at $12,739,000 after buying an additional 57,403 shares during the period. 96.18% of the stock is owned by institutional investors and hedge funds.

Boise Cascade Stock Performance

Shares of BCC stock opened at $121.42 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 11.88 and a beta of 1.57. The company has a 50-day simple moving average of $125.11 and a 200 day simple moving average of $132.65. Boise Cascade has a 52 week low of $113.38 and a 52 week high of $155.42.

Boise Cascade Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Monday, February 24th. Boise Cascade’s dividend payout ratio (DPR) is presently 8.22%.

Wall Street Analyst Weigh In

BCC has been the subject of several research analyst reports. StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. BMO Capital Markets upped their price target on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Truist Financial decreased their price objective on shares of Boise Cascade from $161.00 to $157.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Loop Capital assumed coverage on shares of Boise Cascade in a report on Friday, November 1st. They issued a “buy” rating and a $155.00 target price on the stock. Finally, The Goldman Sachs Group lowered their price target on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. One research 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. According to data from MarketBeat.com, Boise Cascade has a consensus rating of “Hold” and a consensus target price 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.