Van ECK Associates Corp Raises Stock Holdings in Boise Cascade (NYSE:BCC)

Van ECK Associates Corp boosted its stake in Boise Cascade (NYSE:BCC) by 27.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,203 shares of the construction company’s stock after purchasing an additional 6,788 shares during the quarter. Van ECK Associates Corp owned about 0.08% of Boise Cascade worth $3,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Harbor Capital Advisors Inc. purchased a new stake in shares of Boise Cascade during the 3rd quarter valued at $28,000. R Squared Ltd purchased a new stake in Boise Cascade during the fourth quarter valued at about $29,000. Larson Financial Group LLC lifted its stake in Boise Cascade by 23.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock worth $53,000 after purchasing an additional 73 shares during the last quarter. CWM LLC boosted its holdings in shares of Boise Cascade by 26.5% in the 3rd quarter. CWM LLC now owns 673 shares of the construction company’s stock worth $95,000 after purchasing an additional 141 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Boise Cascade by 50.1% in the 3rd quarter. Covestor Ltd now owns 689 shares of the construction company’s stock worth $97,000 after purchasing an additional 230 shares in the last quarter. 96.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Boise Cascade Stock Down 2.4 %

Shares of Boise Cascade stock opened at $118.50 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13. Boise Cascade has a 52-week low of $113.38 and a 52-week high of $155.42. The company’s 50 day moving average price is $124.21 and its 200-day moving average price is $132.50. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 11.59 and a beta of 1.57.

Boise Cascade Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Monday, February 24th. Boise Cascade’s dividend payout ratio (DPR) is presently 8.22%.

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.