LSV Asset Management Cuts Stock Holdings in Boise Cascade, L.L.C. $BCC

LSV Asset Management reduced its position in Boise Cascade, L.L.C. (NYSE:BCC) by 29.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 275,300 shares of the construction company’s stock after selling 115,952 shares during the quarter. LSV Asset Management owned about 0.74% of Boise Cascade worth $21,286,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of BCC. MQS Management LLC raised its holdings in shares of Boise Cascade by 20.4% during the 3rd quarter. MQS Management LLC now owns 7,625 shares of the construction company’s stock worth $590,000 after acquiring an additional 1,294 shares during the period. Hantz Financial Services Inc. increased its holdings in Boise Cascade by 1,071.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 492 shares of the construction company’s stock valued at $38,000 after purchasing an additional 450 shares during the last quarter. Allianz Asset Management GmbH raised its position in Boise Cascade by 10.2% in the third quarter. Allianz Asset Management GmbH now owns 175,031 shares of the construction company’s stock valued at $13,533,000 after purchasing an additional 16,270 shares during the period. AlphaQuest LLC lifted its stake in Boise Cascade by 131.5% during the 3rd quarter. AlphaQuest LLC now owns 35,873 shares of the construction company’s stock worth $2,774,000 after acquiring an additional 20,378 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Boise Cascade by 8.5% in the third quarter. New York State Common Retirement Fund now owns 19,145 shares of the construction company’s stock valued at $1,480,000 after purchasing an additional 1,500 shares during the period. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Stock Down 1.7%

Shares of NYSE BCC opened at $86.56 on Friday. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of 17.11 and a beta of 1.27. Boise Cascade, L.L.C. has a 52 week low of $65.14 and a 52 week high of $122.99. The firm has a 50-day moving average price of $80.31 and a 200 day moving average price of $78.92. The company has a quick ratio of 1.69, a current ratio of 3.10 and a debt-to-equity ratio of 0.22.

Boise Cascade Dividend Announcement

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 given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Monday, February 23rd. Boise Cascade’s payout ratio is presently 17.39%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BCC. DA Davidson reiterated a “buy” rating and issued a $95.00 target price on shares of Boise Cascade in a report on Thursday, November 20th. Wall Street Zen lowered Boise Cascade from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Truist Financial boosted their price target on shares of 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 reissued an “outperform” rating on shares of Boise Cascade in a report on Thursday, January 8th. Finally, Weiss Ratings raised Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 28th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Boise Cascade has a consensus rating of “Moderate Buy” and a consensus 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.