Advisors Asset Management Inc. Sells 7,071 Shares of Boise Cascade, L.L.C. $BCC

Advisors Asset Management Inc. reduced its stake in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 6.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 96,611 shares of the construction company’s stock after selling 7,071 shares during the period. Advisors Asset Management Inc. owned about 0.26% of Boise Cascade worth $7,470,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Salomon & Ludwin LLC purchased a new position in shares of Boise Cascade during the third quarter valued at approximately $28,000. Huntington National Bank lifted its stake in Boise Cascade by 630.0% during the 2nd quarter. Huntington National Bank now owns 438 shares of the construction company’s stock valued at $38,000 after acquiring an additional 378 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in Boise Cascade by 1,071.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 492 shares of the construction company’s stock worth $38,000 after acquiring an additional 450 shares during the last quarter. CWM LLC grew its stake in shares of Boise Cascade by 30.6% in the 3rd quarter. CWM LLC now owns 747 shares of the construction company’s stock worth $58,000 after acquiring an additional 175 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Boise Cascade by 160.5% in the third quarter. Versant Capital Management Inc now owns 883 shares of the construction company’s stock valued at $68,000 after purchasing an additional 544 shares during the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Boise Cascade from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Weiss Ratings raised Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 28th. Truist Financial increased their price target on Boise Cascade from $88.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. DA Davidson reiterated a “buy” rating and set a $95.00 price target on shares of Boise Cascade in a report on Thursday, November 20th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Boise Cascade in a research note on Thursday, January 8th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.83.

Boise Cascade Stock Performance

NYSE BCC opened at $89.27 on Thursday. The firm has a market cap of $3.31 billion, a P/E ratio of 17.64 and a beta of 1.27. The company has a quick ratio of 1.69, a current ratio of 3.10 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average is $79.77 and its 200-day moving average is $78.85. Boise Cascade, L.L.C. has a 12-month low of $65.14 and a 12-month high of $122.99.

Boise Cascade Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Monday, February 23rd will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $0.88 dividend on an annualized basis and a yield of 1.0%. Boise Cascade’s dividend payout ratio is 17.39%.

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.