Boise Cascade (NYSE:BCC) Shares Bought by Meeder Asset Management Inc.

Meeder Asset Management Inc. increased its stake in shares of Boise Cascade (NYSE:BCC - Free Report) by 55.8% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 27,791 shares of the construction company's stock after acquiring an additional 9,958 shares during the period. Meeder Asset Management Inc. owned approximately 0.07% of Boise Cascade worth $3,918,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new stake in shares of Boise Cascade during the third quarter valued at about $28,000. Larson Financial Group LLC acquired a new stake in Boise Cascade during the 2nd quarter valued at approximately $36,000. iA Global Asset Management Inc. purchased a new stake in Boise Cascade during the 1st quarter worth approximately $82,000. GAMMA Investing LLC raised its position in shares of Boise Cascade by 33.4% in the 2nd quarter. GAMMA Investing LLC now owns 787 shares of the construction company's stock valued at $94,000 after purchasing an additional 197 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Boise Cascade by 26.5% during the 3rd quarter. CWM LLC now owns 673 shares of the construction company's stock valued at $95,000 after buying an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 96.18% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on BCC. Bank of America lifted their price target on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an "underperform" rating in a research note on Thursday, September 12th. StockNews.com downgraded shares of Boise Cascade from a "buy" rating to a "hold" rating in a research report on Wednesday, November 6th. BMO Capital Markets increased their price target 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. Loop Capital started coverage on Boise Cascade in a report on Friday, November 1st. They issued a "buy" rating and a $155.00 price objective for the company. Finally, Truist Financial increased their target price on Boise Cascade from $154.00 to $161.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $139.60.

Boise Cascade Stock Performance

Shares of NYSE:BCC traded down $3.47 during trading on Tuesday, reaching $138.08. 165,738 shares of the company's stock traded hands, compared to its average volume of 306,356. The stock has a market capitalization of $5.30 billion, a P/E ratio of 13.51 and a beta of 1.53. Boise Cascade has a 12 month low of $106.38 and a 12 month high of $154.67. The company has a 50 day moving average of $138.69 and a 200-day moving average of $132.87. 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 - Get Free Report) last posted its earnings results on Monday, November 4th. The construction company reported $2.33 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 the consensus estimate of $1.72 billion. Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The firm's revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period last year, the company posted $3.58 earnings per share. On average, equities analysts expect that Boise Cascade will post 9.57 EPS for the current year.

Boise Cascade Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date is Monday, December 2nd. Boise Cascade's payout ratio is 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.