Boise Cascade (NYSE:BCC) Shares Bought by Vest Financial LLC

Vest Financial LLC lifted its stake in shares of Boise Cascade (NYSE:BCC) by 89.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 19,853 shares of the construction company’s stock after purchasing an additional 9,381 shares during the period. Vest Financial LLC’s holdings in Boise Cascade were worth $2,360,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Tidal Investments LLC grew its holdings 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 acquiring an additional 12,231 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Boise Cascade by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock worth $61,680,000 after purchasing an additional 9,128 shares during the last quarter. Fulcrum Capital LLC acquired a new position in shares of Boise Cascade during the fourth quarter worth $1,092,000. Allspring Global Investments Holdings LLC increased its holdings in Boise Cascade by 56.8% in 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 buying an additional 32,303 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in Boise Cascade by 5.0% in the fourth quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company’s stock valued at $14,454,000 after buying an additional 5,779 shares in the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BCC. BMO Capital Markets increased their price objective on Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Loop Capital initiated coverage on shares of Boise Cascade in a report on Friday, November 1st. They set a “buy” rating and a $155.00 price objective on the stock. The Goldman Sachs Group reduced their price objective on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Truist Financial cut their target price on Boise Cascade from $161.00 to $157.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Boise Cascade currently has a consensus rating of “Hold” and a consensus target price of $139.60.

Boise Cascade Price Performance

Shares of NYSE:BCC opened at $123.17 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13. Boise Cascade has a one year low of $113.38 and a one year high of $155.42. The company has a 50-day simple moving average of $128.04 and a 200-day simple moving average of $133.35. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of 12.05 and a beta of 1.57.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, February 24th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.68%. Boise Cascade’s dividend payout ratio is presently 8.22%.

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.