Boise Cascade, L.L.C. $BCC Shares Sold by Citigroup Inc.

Citigroup Inc. lowered its holdings in Boise Cascade, L.L.C. (NYSE:BCC) by 43.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,942 shares of the construction company’s stock after selling 27,390 shares during the period. Citigroup Inc. owned approximately 0.10% of Boise Cascade worth $2,779,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in BCC. Westwood Holdings Group Inc. boosted its holdings in 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 period. American Century Companies Inc. raised its stake in shares of Boise Cascade by 4.5% during the second quarter. American Century Companies Inc. now owns 1,281,435 shares of the construction company’s stock valued at $111,254,000 after purchasing an additional 55,052 shares during the period. Geode Capital Management LLC lifted its position in shares of Boise Cascade by 0.8% during the second quarter. Geode Capital Management LLC now owns 947,477 shares of the construction company’s stock worth $82,267,000 after purchasing an additional 7,618 shares in the last quarter. Norges Bank acquired a new position in shares of Boise Cascade during the second quarter worth $39,818,000. Finally, Bank of America Corp DE boosted its stake in shares of Boise Cascade by 76.5% in 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 purchasing an additional 181,025 shares during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BCC. Truist Financial lifted their price target on shares of Boise Cascade from $92.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Weiss Ratings raised shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 28th. Wall Street Zen raised Boise Cascade from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. BMO Capital Markets reiterated an “outperform” rating on shares of Boise Cascade in a research note on Thursday, January 8th. Finally, DA Davidson reissued a “buy” rating and issued a $95.00 price target on shares of Boise Cascade in a report on Tuesday, February 24th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Boise Cascade currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.67.

Boise Cascade Trading Down 2.4%

NYSE BCC opened at $75.46 on Friday. Boise Cascade, L.L.C. has a 12 month low of $65.14 and a 12 month high of $103.44. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.36 and a quick ratio of 1.74. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 21.44, a price-to-earnings-growth ratio of 1.06 and a beta of 1.26. The company’s fifty day moving average price is $82.45 and its two-hundred day moving average price is $78.68.

Boise Cascade Announces Dividend

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

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.