Assenagon Asset Management S.A. Trims Position in Boise Cascade (NYSE:BCC)

Assenagon Asset Management S.A. decreased its holdings in shares of Boise Cascade (NYSE:BCC) by 0.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 18,033 shares of the construction company’s stock after selling 90 shares during the period. Assenagon Asset Management S.A.’s holdings in Boise Cascade were worth $2,150,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. SummerHaven Investment Management LLC lifted its position in Boise Cascade by 1.2% during the fourth quarter. SummerHaven Investment Management LLC now owns 7,593 shares of the construction company’s stock worth $982,000 after buying an additional 93 shares during the period. Measured Wealth Private Client Group LLC lifted its holdings in shares of Boise Cascade by 1.8% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 5,273 shares of the construction company’s stock valued at $809,000 after acquiring an additional 95 shares in the last quarter. MorganRosel Wealth Management LLC boosted its position in Boise Cascade by 1.8% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 7,756 shares of the construction company’s stock worth $925,000 after purchasing an additional 138 shares during the period. Bridge City Capital LLC boosted its position in Boise Cascade by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 18,270 shares of the construction company’s stock worth $2,802,000 after purchasing an additional 143 shares during the period. Finally, Capstone Investment Advisors LLC increased its holdings in Boise Cascade by 4.4% in the 4th quarter. Capstone Investment Advisors LLC now owns 3,643 shares of the construction company’s stock valued at $471,000 after purchasing an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on BCC shares. The Goldman Sachs Group reduced their price objective on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Truist Financial restated a “buy” rating and issued a $154.00 price target (down previously from $159.00) on shares of Boise Cascade in a report on Wednesday, August 7th. Finally, StockNews.com lowered shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $124.75.

Boise Cascade Trading Up 0.3 %

NYSE:BCC opened at $127.56 on Wednesday. Boise Cascade has a one year low of $87.32 and a one year high of $154.67. The business’s 50-day simple moving average is $126.61 and its 200 day simple moving average is $133.99. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.05 and a current ratio of 3.24. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 10.37 and a beta of 1.50.

Boise Cascade (NYSE:BCC) last announced its earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.16. Boise Cascade had a return on equity of 22.00% and a net margin of 7.08%. The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the company posted $3.67 EPS. Boise Cascade’s quarterly revenue was down 1.0% on a year-over-year basis. As a group, sell-side analysts predict that Boise Cascade will post 10.41 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.66%. This is an increase from Boise Cascade’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, September 3rd. Boise Cascade’s dividend payout ratio is 6.83%.

Boise Cascade Company Profile

Boise Cascade Company engages in manufacture of wood products and distribution of building materials in the United States and Canada. It operates through two segments, Wood Products and Building Materials Distribution. The Wood Products segment manufactures laminated veneer lumber and laminated beams used in headers and beams; I-joists for residential and commercial flooring and roofing systems, and other structural applications; structural, appearance, and industrial plywood panels; and ponderosa pine shop lumber and appearance grade boards.