Boise Cascade (NYSE:BCC) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its holdings in shares of Boise Cascade (NYSE:BCC) by 50.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,699 shares of the construction company’s stock after buying an additional 7,983 shares during the quarter. Assenagon Asset Management S.A. owned 0.06% of Boise Cascade worth $2,325,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Westwood Holdings Group Inc. increased its position in shares of Boise Cascade by 3.9% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,192,621 shares of the construction company’s stock valued at $141,755,000 after purchasing an additional 45,010 shares during the last quarter. American Century Companies Inc. increased its position in shares of Boise Cascade by 12.0% in the 4th quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock valued at $134,831,000 after purchasing an additional 121,790 shares during the last quarter. First Trust Advisors LP increased its position in shares of Boise Cascade by 37.9% in the 4th quarter. First Trust Advisors LP now owns 712,527 shares of the construction company’s stock valued at $84,691,000 after purchasing an additional 195,773 shares during the last quarter. Northern Trust Corp increased its position in shares of Boise Cascade by 17.8% in the 4th quarter. Northern Trust Corp now owns 483,165 shares of the construction company’s stock valued at $57,429,000 after purchasing an additional 73,061 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Boise Cascade in the 4th quarter valued at approximately $55,680,000. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Loop Capital dropped their target price on shares of Boise Cascade from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. BMO Capital Markets dropped their target price on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 25th. DA Davidson dropped their target price on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Truist Financial dropped their target price on shares of Boise Cascade from $134.00 to $118.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Finally, Benchmark reissued a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $125.00.

Boise Cascade Stock Up 0.0%

BCC stock opened at $85.75 on Tuesday. Boise Cascade has a one year low of $83.86 and a one year high of $155.42. The stock has a market capitalization of $3.23 billion, a PE ratio of 8.97 and a beta of 1.36. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34. The company has a fifty day moving average of $90.85 and a 200-day moving average of $107.82.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Monday, May 5th. The construction company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.30). The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter last year, the business earned $2.61 EPS. As a group, analysts expect that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.98%. Boise Cascade’s dividend payout ratio (DPR) is presently 10.49%.

Insider Transactions at Boise Cascade

In other Boise Cascade news, EVP Joanna L. Barney sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $87.68, for a total transaction of $87,680.00. Following the completion of the sale, the executive vice president now directly owns 12,372 shares in the company, valued at $1,084,776.96. The trade was a 7.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jill Twedt sold 1,200 shares of the company’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $88.01, for a total transaction of $105,612.00. Following the completion of the transaction, the senior vice president now owns 34,649 shares of the company’s stock, valued at $3,049,458.49. This trade represents a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.98% of the company’s stock.

About Boise Cascade

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.