Allspring Global Investments Holdings LLC Has $4.54 Million Stock Position in Boise Cascade, L.L.C. $BCC

Allspring Global Investments Holdings LLC raised its holdings in Boise Cascade, L.L.C. (NYSE:BCC) by 52.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,196 shares of the construction company’s stock after buying an additional 21,139 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.17% of Boise Cascade worth $4,536,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its position in shares of Boise Cascade by 19.8% during the third quarter. Wellington Management Group LLP now owns 3,268,407 shares of the construction company’s stock valued at $252,713,000 after buying an additional 539,962 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Boise Cascade by 2.6% during the third quarter. Dimensional Fund Advisors LP now owns 2,280,347 shares of the construction company’s stock valued at $176,313,000 after buying an additional 58,131 shares during the last quarter. Westwood Holdings Group Inc. raised its position in shares of Boise Cascade by 9.7% during the second quarter. Westwood Holdings Group Inc. now owns 1,645,026 shares of the construction company’s stock valued at $142,821,000 after buying an additional 145,721 shares during the last quarter. Bank of America Corp DE raised its position in shares of Boise Cascade by 76.5% during the second quarter. Bank of America Corp DE now owns 417,642 shares of the construction company’s stock valued at $36,260,000 after buying an additional 181,025 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Boise Cascade by 7.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 347,301 shares of the construction company’s stock worth $26,853,000 after acquiring an additional 25,452 shares during the period. Institutional investors and hedge funds own 96.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BCC. Wall Street Zen upgraded shares of Boise Cascade from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings upgraded shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 30th. BMO Capital Markets reiterated an “outperform” rating on shares of Boise Cascade in a research note on Thursday, January 8th. The Goldman Sachs Group upped their target price on shares of Boise Cascade from $85.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Finally, Truist Financial upped their target price on shares of Boise Cascade from $92.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $105.67.

Boise Cascade Stock Up 1.2%

Shares of NYSE BCC opened at $74.64 on Wednesday. The stock has a market cap of $2.68 billion, a PE ratio of 21.20, a PEG ratio of 1.05 and a beta of 1.23. The business has a fifty day moving average of $79.14 and a two-hundred day moving average of $76.52. Boise Cascade, L.L.C. has a 52-week low of $65.14 and a 52-week high of $100.21. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.74 and a current ratio of 3.36.

Boise Cascade Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Monday, February 23rd were given a $0.22 dividend. The ex-dividend date was Monday, February 23rd. This represents a $0.88 dividend on an annualized basis and a yield of 1.2%. Boise Cascade’s payout ratio is 25.00%.

Boise Cascade Profile

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.