Assenagon Asset Management S.A. Buys 9,825 Shares of Boise Cascade, L.L.C. $BCC

Assenagon Asset Management S.A. increased its position in Boise Cascade, L.L.C. (NYSE:BCC) by 28.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,561 shares of the construction company’s stock after buying an additional 9,825 shares during the period. Assenagon Asset Management S.A.’s holdings in Boise Cascade were worth $3,280,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in Boise Cascade by 7.9% in the third quarter. JPMorgan Chase & Co. now owns 347,301 shares of the construction company’s stock valued at $26,853,000 after acquiring an additional 25,452 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in shares of Boise Cascade by 662.4% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 648 shares of the construction company’s stock worth $50,000 after purchasing an additional 563 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in Boise Cascade in the 3rd quarter valued at $311,000. Danske Bank A S acquired a new stake in Boise Cascade in the 3rd quarter valued at $54,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in Boise Cascade by 231.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock valued at $29,000 after purchasing an additional 259 shares in the last quarter. 96.18% of the stock is owned by institutional investors.

Boise Cascade Price Performance

BCC opened at $74.48 on Monday. Boise Cascade, L.L.C. has a 1 year low of $65.14 and a 1 year high of $102.09. 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 $2.67 billion, a price-to-earnings ratio of 21.16, a P/E/G ratio of 1.06 and a beta of 1.26. The firm’s fifty day moving average price is $80.51 and its two-hundred day moving average price is $76.96.

Boise Cascade Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Boise Cascade from $85.00 to $94.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. Wall Street Zen upgraded shares of Boise Cascade from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings lowered shares of Boise Cascade from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 13th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Boise Cascade in a research report on Thursday, January 8th. Finally, Truist Financial lifted their price target on Boise Cascade from $92.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.67.

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.