Allianz Asset Management GmbH Has $13.53 Million Stake in Boise Cascade, L.L.C. $BCC

Allianz Asset Management GmbH increased its position in Boise Cascade, L.L.C. (NYSE:BCC) by 10.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,031 shares of the construction company’s stock after purchasing an additional 16,270 shares during the period. Allianz Asset Management GmbH owned approximately 0.47% of Boise Cascade worth $13,533,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank bought a new position in shares of Boise Cascade in the second quarter valued at $39,818,000. Bank of America Corp DE increased 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 worth $36,260,000 after acquiring an additional 181,025 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of Boise Cascade by 9.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,645,026 shares of the construction company’s stock worth $142,821,000 after acquiring an additional 145,721 shares during the last quarter. M&G PLC acquired a new stake in shares of Boise Cascade in the 2nd quarter worth about $8,984,000. Finally, Peregrine Capital Management LLC lifted its position in Boise Cascade by 89.2% in the 3rd quarter. Peregrine Capital Management LLC now owns 140,457 shares of the construction company’s stock valued at $10,860,000 after acquiring an additional 66,239 shares in the last quarter. Institutional investors own 96.18% of the company’s stock.

Boise Cascade Stock Performance

Shares of BCC opened at $91.17 on Friday. The stock has a 50 day moving average of $78.95 and a 200 day moving average of $78.82. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 18.02 and a beta of 1.27. Boise Cascade, L.L.C. has a 12 month low of $65.14 and a 12 month high of $124.97. The company has a current ratio of 3.10, a quick ratio of 1.69 and a debt-to-equity ratio of 0.22.

Analyst Upgrades and Downgrades

BCC has been the subject of a number of recent research reports. Truist Financial boosted their price objective on Boise Cascade from $88.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. The Goldman Sachs Group cut their target price on Boise Cascade from $96.00 to $82.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. BMO Capital Markets reiterated an “outperform” rating on shares of Boise Cascade in a report on Thursday, January 8th. DA Davidson restated a “buy” rating and set a $95.00 price objective on shares of Boise Cascade in a research note on Thursday, November 20th. Finally, Wall Street Zen downgraded shares of Boise Cascade from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.83.

About Boise Cascade

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.