Boise Cascade (NYSE:BCC) Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB increased its holdings in Boise Cascade (NYSE:BCC) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 120,816 shares of the construction company’s stock after buying an additional 5,779 shares during the quarter. Nordea Investment Management AB’s holdings in Boise Cascade were worth $14,454,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of BCC. Franklin Resources Inc. increased its stake in shares of Boise Cascade by 0.8% in the third quarter. Franklin Resources Inc. now owns 43,958 shares of the construction company’s stock worth $6,285,000 after acquiring an additional 335 shares during the period. Tidal Investments LLC grew its position in Boise Cascade by 341.9% during the 3rd quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock worth $2,229,000 after purchasing an additional 12,231 shares during the period. World Investment Advisors LLC purchased a new position in shares of Boise Cascade during the 3rd quarter valued at about $3,995,000. Sanctuary Advisors LLC lifted its holdings in shares of Boise Cascade by 11.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 6,937 shares of the construction company’s stock valued at $997,000 after buying an additional 686 shares during the period. Finally, Invst LLC boosted its stake in shares of Boise Cascade by 2.6% in the third quarter. Invst LLC now owns 5,060 shares of the construction company’s stock worth $713,000 after buying an additional 128 shares during the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Stock Performance

NYSE:BCC opened at $117.29 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13. The stock has a market capitalization of $4.50 billion, a PE ratio of 11.48 and a beta of 1.58. Boise Cascade has a fifty-two week low of $113.89 and a fifty-two week high of $155.42. The company has a fifty day moving average of $135.42 and a two-hundred day moving average of $133.04.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.37 by ($0.04). Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the company earned $3.58 EPS. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. As a group, research analysts forecast that Boise Cascade will post 9.57 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were given a $0.21 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 0.72%. Boise Cascade’s dividend payout ratio (DPR) is presently 8.22%.

Wall Street Analysts Forecast Growth

BCC has been the subject of several recent research reports. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Bank of America boosted their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research note on Thursday, September 12th. Loop Capital started coverage on shares of Boise Cascade in a research report on Friday, November 1st. They set a “buy” rating and a $155.00 price target on the stock. Truist Financial lowered their target price on shares of Boise Cascade from $161.00 to $157.00 and set a “buy” rating on the stock in a research note on Monday. Finally, BMO Capital Markets raised their target price on Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Boise Cascade has an average rating of “Hold” and a consensus target price of $138.80.

About Boise Cascade

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.