Assenagon Asset Management S.A. Has $3.28 Million Stake in Boise Cascade, L.L.C. $BCC

Assenagon Asset Management S.A. raised its stake in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 28.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 44,561 shares of the construction company’s stock after purchasing an additional 9,825 shares during the period. Assenagon Asset Management S.A. owned 0.12% of Boise Cascade worth $3,280,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BCC. Salomon & Ludwin LLC acquired a new stake in shares of Boise Cascade in the third quarter valued at about $28,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Boise Cascade by 231.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock worth $29,000 after acquiring an additional 259 shares during the period. Hantz Financial Services Inc. lifted its stake in shares of Boise Cascade by 1,071.4% in the third 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 period. Advisory Services Network LLC bought a new stake in Boise Cascade in the third quarter valued at approximately $38,000. Finally, iSAM Funds UK Ltd bought a new stake in Boise Cascade in the third quarter valued at approximately $44,000. 96.18% of the stock is owned by institutional investors and hedge funds.

Boise Cascade Trading Up 0.1%

Shares of BCC stock opened at $74.48 on Monday. Boise Cascade, L.L.C. has a fifty-two week low of $65.14 and a fifty-two week high of $102.09. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.74 and a current ratio of 3.36. The stock has a 50 day simple moving average of $80.51 and a two-hundred day simple moving average of $76.96. The company has a market cap of $2.67 billion, a P/E ratio of 21.16, a PEG ratio of 1.06 and a beta of 1.26.

Boise Cascade Announces Dividend

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

Wall Street Analyst Weigh In

BCC has been the subject of several analyst reports. DA Davidson restated a “buy” rating and set a $95.00 price target on shares of Boise Cascade in a report on Tuesday, February 24th. The Goldman Sachs Group upped their price objective 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. Wall Street Zen upgraded shares of Boise Cascade from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings downgraded shares of Boise Cascade from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 13th. Finally, Truist Financial boosted their target price on shares of Boise Cascade from $92.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $105.67.

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.