Advisors Asset Management Inc. Cuts Stock Holdings in Boise Cascade, L.L.C. $BCC

Advisors Asset Management Inc. trimmed its position in Boise Cascade, L.L.C. (NYSE:BCC) by 6.8% during the 3rd quarter, Holdings Channel reports. 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.’s holdings in Boise Cascade were worth $7,470,000 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 BCC. AlphaQuest LLC boosted its holdings in shares of Boise Cascade by 131.5% during the 3rd quarter. AlphaQuest LLC now owns 35,873 shares of the construction company’s stock valued at $2,774,000 after purchasing an additional 20,378 shares during the last quarter. Capital Fund Management S.A. bought a new position in Boise Cascade during the second quarter valued at approximately $2,342,000. ARGA Investment Management LP bought a new position in Boise Cascade during the third quarter valued at approximately $1,499,000. American Century Companies Inc. increased its stake in Boise Cascade by 4.5% in the 2nd quarter. American Century Companies Inc. now owns 1,281,435 shares of the construction company’s stock worth $111,254,000 after acquiring an additional 55,052 shares during the last quarter. Finally, Westwood Holdings Group Inc. increased its stake 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 last quarter. Institutional investors own 96.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on BCC. Weiss Ratings upgraded shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 28th. DA Davidson reaffirmed a “buy” rating and issued a $95.00 price target on shares of Boise Cascade in a report on Thursday, November 20th. BMO Capital Markets reiterated an “outperform” rating on shares of Boise Cascade in a research report on Thursday, January 8th. Wall Street Zen cut Boise Cascade from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Finally, Truist Financial raised their price objective on Boise Cascade from $88.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $101.83.

Boise Cascade Stock Performance

Shares of Boise Cascade stock opened at $89.27 on Thursday. Boise Cascade, L.L.C. has a one year low of $65.14 and a one year high of $122.99. The company has a 50-day simple moving average of $79.77 and a two-hundred day simple moving average of $78.85. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.69 and a current ratio of 3.10. The company has a market capitalization of $3.31 billion, a PE ratio of 17.64 and a beta of 1.27.

Boise Cascade Announces Dividend

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

Boise Cascade Company 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.