Intech Investment Management LLC Decreases Position in Boise Cascade, L.L.C. $BCC

Intech Investment Management LLC trimmed its position in Boise Cascade, L.L.C. (NYSE:BCC) by 14.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 37,619 shares of the construction company’s stock after selling 6,217 shares during the quarter. Intech Investment Management LLC’s holdings in Boise Cascade were worth $2,909,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Westwood Holdings Group Inc. raised its holdings in shares of Boise Cascade by 9.7% during the second quarter. Westwood Holdings Group Inc. now owns 1,645,026 shares of the construction company’s stock valued at $142,821,000 after acquiring an additional 145,721 shares during the last quarter. American Century Companies Inc. increased its position in shares of Boise Cascade by 4.5% during the second quarter. American Century Companies Inc. now owns 1,281,435 shares of the construction company’s stock worth $111,254,000 after purchasing an additional 55,052 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Boise Cascade by 0.8% during the second quarter. Geode Capital Management LLC now owns 947,477 shares of the construction company’s stock worth $82,267,000 after purchasing an additional 7,618 shares in the last quarter. Norges Bank acquired a new position in Boise Cascade in the 2nd quarter valued at $39,818,000. Finally, Bank of America Corp DE lifted its holdings in Boise Cascade by 76.5% in 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 purchasing an additional 181,025 shares in the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BCC shares. Weiss Ratings raised shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 28th. The Goldman Sachs Group boosted their price target on shares of Boise Cascade from $85.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. DA Davidson reaffirmed a “buy” rating and set a $95.00 price objective on shares of Boise Cascade in a research note on Tuesday, February 24th. Truist Financial increased their price objective on shares of Boise Cascade from $92.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Boise Cascade in a research note on Thursday, January 8th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Boise Cascade presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.67.

Boise Cascade Trading Down 2.6%

Shares of BCC stock opened at $80.57 on Tuesday. The company has a current ratio of 3.36, a quick ratio of 1.74 and a debt-to-equity ratio of 0.22. Boise Cascade, L.L.C. has a twelve month low of $65.14 and a twelve month high of $106.41. The company’s 50-day moving average price is $82.21 and its 200-day moving average price is $78.81. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 22.89 and a beta of 1.26.

Boise Cascade Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Monday, February 23rd will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, February 23rd. Boise Cascade’s payout ratio is presently 25.00%.

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.