Principal Financial Group Inc. Lowers Stock Holdings in Boise Cascade, L.L.C. $BCC

Principal Financial Group Inc. cut its position in Boise Cascade, L.L.C. (NYSE:BCC) by 3.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 180,312 shares of the construction company’s stock after selling 6,309 shares during the quarter. Principal Financial Group Inc.’s holdings in Boise Cascade were worth $13,942,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Salomon & Ludwin LLC purchased a new stake in Boise Cascade during the third quarter worth about $28,000. Huntington National Bank grew its holdings in shares of Boise Cascade by 630.0% in the second quarter. Huntington National Bank now owns 438 shares of the construction company’s stock valued at $38,000 after purchasing an additional 378 shares in the last quarter. CWM LLC grew its holdings in shares of Boise Cascade by 30.6% in the third quarter. CWM LLC now owns 747 shares of the construction company’s stock valued at $58,000 after purchasing an additional 175 shares in the last quarter. Versant Capital Management Inc increased its stake in Boise Cascade by 160.5% during the 3rd quarter. Versant Capital Management Inc now owns 883 shares of the construction company’s stock worth $68,000 after buying an additional 544 shares during the period. Finally, Covestor Ltd increased its stake in Boise Cascade by 110.0% during the 3rd quarter. Covestor Ltd now owns 991 shares of the construction company’s stock worth $76,000 after buying an additional 519 shares during the period. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Price Performance

Shares of BCC opened at $89.61 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.10 and a quick ratio of 1.69. Boise Cascade, L.L.C. has a 1-year low of $65.14 and a 1-year high of $124.36. The stock has a market cap of $3.32 billion, a PE ratio of 17.71 and a beta of 1.27. The firm has a fifty day moving average price of $79.52 and a 200 day moving average price of $78.78.

Boise Cascade Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Monday, February 23rd will be paid a dividend of $0.22 per share. The ex-dividend date is Monday, February 23rd. This represents a $0.88 annualized dividend and a dividend yield of 1.0%. Boise Cascade’s dividend payout ratio is 17.39%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BCC. Wall Street Zen cut Boise Cascade from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. DA Davidson restated a “buy” rating and set a $95.00 price target on shares of Boise Cascade in a report on Thursday, November 20th. Truist Financial increased their price target on Boise Cascade from $88.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. BMO Capital Markets reiterated an “outperform” rating on shares of Boise Cascade in a research note on Thursday, January 8th. Finally, Weiss Ratings raised Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 28th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $101.83.

About Boise Cascade

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.