Monument Capital Management Increases Stake in Boise Cascade (NYSE:BCC)

Monument Capital Management grew its holdings in Boise Cascade (NYSE:BCC) by 32.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,113 shares of the construction company’s stock after purchasing an additional 522 shares during the period. Monument Capital Management’s holdings in Boise Cascade were worth $251,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. CWM LLC raised its holdings in shares of Boise Cascade by 26.5% during the third quarter. CWM LLC now owns 673 shares of the construction company’s stock valued at $95,000 after purchasing an additional 141 shares during the last quarter. Creative Planning raised its stake in Boise Cascade by 17.9% during the 3rd quarter. Creative Planning now owns 8,596 shares of the construction company’s stock valued at $1,212,000 after buying an additional 1,302 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Boise Cascade by 43.1% during the 3rd quarter. Blue Trust Inc. now owns 1,378 shares of the construction company’s stock valued at $194,000 after buying an additional 415 shares during the period. Vest Financial LLC boosted its stake in shares of Boise Cascade by 14.8% in the 3rd quarter. Vest Financial LLC now owns 10,472 shares of the construction company’s stock worth $1,476,000 after buying an additional 1,349 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Boise Cascade by 56.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 89,163 shares of the construction company’s stock valued at $12,570,000 after acquiring an additional 32,303 shares during the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BCC shares. Loop Capital began coverage on Boise Cascade in a research note on Friday, November 1st. They set a “buy” rating and a $155.00 price target for the company. Truist Financial cut their target price on shares of Boise Cascade from $161.00 to $157.00 and set a “buy” rating for the company in a research report on Monday, January 6th. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group reduced their price objective on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Finally, BMO Capital Markets lifted 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 given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $139.60.

Boise Cascade Stock Performance

Shares of NYSE BCC opened at $121.93 on Tuesday. The stock has a market cap of $4.68 billion, a PE ratio of 11.93 and a beta of 1.57. Boise Cascade has a 1 year low of $113.38 and a 1 year high of $155.42. The firm has a fifty day moving average price of $125.11 and a 200-day moving average price of $132.65. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.13 and a quick ratio of 1.90.

Boise Cascade Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th will be paid a $0.21 dividend. The ex-dividend date is Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.69%. Boise Cascade’s payout ratio is presently 8.22%.

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.