Jennison Associates LLC boosted its position in shares of Boise Cascade (NYSE:BCC - Free Report) by 83.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,219 shares of the construction company's stock after acquiring an additional 5,102 shares during the period. Jennison Associates LLC's holdings in Boise Cascade were worth $1,333,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Tidal Investments LLC lifted its stake in shares of Boise Cascade by 341.9% during the 3rd quarter. Tidal Investments LLC now owns 15,808 shares of the construction company's stock valued at $2,229,000 after buying 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% in the third quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company's stock valued at $61,680,000 after acquiring an additional 9,128 shares in the last quarter. Fulcrum Capital LLC bought a new position in shares of Boise Cascade in the fourth quarter worth about $1,092,000. Allspring Global Investments Holdings LLC boosted its stake in shares of 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 worth $12,570,000 after acquiring an additional 32,303 shares during the period. Finally, Nordea Investment Management AB grew its position in shares of Boise Cascade by 5.0% during the fourth quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company's stock worth $14,454,000 after purchasing an additional 5,779 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company's stock.
Boise Cascade Price Performance
BCC stock traded down $0.07 during trading on Monday, hitting $123.21. 236,786 shares of the company's stock traded hands, compared to its average volume of 272,796. Boise Cascade has a 52 week low of $113.38 and a 52 week high of $155.42. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of 12.06 and a beta of 1.57. The business has a fifty day simple moving average of $127.56 and a 200 day simple moving average of $133.29. 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 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 given a $0.21 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $0.84 annualized dividend and a yield of 0.68%. Boise Cascade's dividend payout ratio is currently 8.22%.
Analysts Set New Price Targets
Several research analysts have weighed in on BCC shares. StockNews.com downgraded Boise Cascade from a "buy" rating to a "hold" rating in a research note on Wednesday, November 6th. BMO Capital Markets upped their target price on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a "market perform" rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group reduced their price target on shares of Boise Cascade from $145.00 to $126.00 and set a "neutral" rating on the stock in a report on Tuesday, January 14th. Truist Financial dropped their price objective on shares of Boise Cascade from $161.00 to $157.00 and set a "buy" rating for the company in a report on Monday, January 6th. Finally, Loop Capital assumed coverage on Boise Cascade in a report on Friday, November 1st. They issued a "buy" rating and a $155.00 target price on the stock. 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $139.60.
Check Out Our Latest Stock Report on Boise Cascade
About Boise Cascade
(
Free Report)
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.
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