Nordea Investment Management AB Buys 5,779 Shares of Boise Cascade (NYSE:BCC)

Nordea Investment Management AB grew its stake in Boise Cascade (NYSE:BCC) by 5.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,816 shares of the construction company’s stock after acquiring an additional 5,779 shares during the period. Nordea Investment Management AB owned 0.31% of Boise Cascade worth $14,454,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Larson Financial Group LLC grew its stake in Boise Cascade by 23.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock worth $53,000 after purchasing an additional 73 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Boise Cascade by 4.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,757 shares of the construction company’s stock worth $248,000 after buying an additional 78 shares in the last quarter. First Trust Direct Indexing L.P. increased its stake in shares of Boise Cascade by 7.3% during the third quarter. First Trust Direct Indexing L.P. now owns 1,893 shares of the construction company’s stock valued at $267,000 after buying an additional 128 shares during the period. Invst LLC raised its holdings in shares of Boise Cascade by 2.6% in the third quarter. Invst LLC now owns 5,060 shares of the construction company’s stock valued at $713,000 after acquiring an additional 128 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in Boise Cascade by 1.9% in the second quarter. Bank of Montreal Can now owns 7,456 shares of the construction company’s stock worth $890,000 after acquiring an additional 137 shares during the period. 96.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BCC shares. BMO Capital Markets boosted their price target on shares of 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 began coverage on Boise Cascade in a research report on Friday, November 1st. They set a “buy” rating and a $155.00 target price on the stock. Truist Financial reduced their price target on Boise Cascade from $161.00 to $157.00 and set a “buy” rating for the company in a research report on Monday. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Bank of America boosted their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a report on Thursday, September 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $138.80.

Boise Cascade Stock Down 0.8 %

Shares of BCC stock opened at $117.29 on Thursday. The stock’s fifty day moving average price is $135.42 and its 200 day moving average price is $133.04. Boise Cascade has a 1-year low of $113.89 and a 1-year high of $155.42. The company has a market cap of $4.50 billion, a price-to-earnings ratio of 11.48 and a beta of 1.58. 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 (NYSE:BCC) last posted its quarterly earnings data on Monday, November 4th. The construction company reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.37 by ($0.04). The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.72 billion. Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The business’s revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.58 EPS. On average, research analysts expect that Boise Cascade will post 9.57 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date was Monday, December 2nd. Boise Cascade’s dividend payout ratio (DPR) 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.