Allianz Asset Management GmbH Buys 16,270 Shares of Boise Cascade, L.L.C. $BCC

Allianz Asset Management GmbH grew its stake in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 10.2% in the third quarter, Holdings Channel reports. The fund owned 175,031 shares of the construction company’s stock after acquiring an additional 16,270 shares during the quarter. Allianz Asset Management GmbH’s holdings in Boise Cascade were worth $13,533,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. 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 purchasing an additional 145,721 shares during the period. American Century Companies Inc. increased its position in Boise Cascade by 4.5% in the second quarter. American Century Companies Inc. now owns 1,281,435 shares of the construction company’s stock worth $111,254,000 after buying an additional 55,052 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Boise Cascade by 0.8% in the second quarter. Geode Capital Management LLC now owns 947,477 shares of the construction company’s stock valued at $82,267,000 after buying an additional 7,618 shares during the period. Norges Bank bought a new stake in shares of Boise Cascade in the second quarter valued at $39,818,000. Finally, Bank of America Corp DE lifted its position in shares of Boise Cascade by 76.5% during the 2nd 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. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Stock Up 2.3%

BCC stock opened at $91.17 on Friday. The stock has a 50-day simple moving average of $78.95 and a two-hundred day simple moving average of $78.82. Boise Cascade, L.L.C. has a twelve month low of $65.14 and a twelve month high of $124.97. The firm has a market capitalization of $3.38 billion, a PE ratio of 18.02 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.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BCC shares. BMO Capital Markets reissued an “outperform” rating on shares of Boise Cascade in a report on Thursday, January 8th. DA Davidson reiterated a “buy” rating and set a $95.00 target price on shares of Boise Cascade in a research report on Thursday, November 20th. The Goldman Sachs Group reduced their target price on shares of Boise Cascade from $96.00 to $82.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. 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. Finally, Truist Financial raised their price objective on shares of Boise Cascade from $88.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $101.83.

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.