Meeder Asset Management Inc. Buys 6,297 Shares of Boise Cascade (NYSE:BCC)

Meeder Asset Management Inc. increased its holdings in shares of Boise Cascade (NYSE:BCC - Free Report) by 22.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,088 shares of the construction company's stock after buying an additional 6,297 shares during the period. Meeder Asset Management Inc. owned 0.09% of Boise Cascade worth $4,052,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BCC. Cerity Partners LLC increased its stake in shares of Boise Cascade by 34.5% in the 3rd quarter. Cerity Partners LLC now owns 3,897 shares of the construction company's stock valued at $549,000 after acquiring an additional 999 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Boise Cascade by 1,597.4% during the third quarter. Bank of Montreal Can now owns 126,559 shares of the construction company's stock worth $17,907,000 after purchasing an additional 119,103 shares in the last quarter. FMR LLC lifted its stake in Boise Cascade by 158.9% in the third quarter. FMR LLC now owns 126,123 shares of the construction company's stock valued at $17,781,000 after buying an additional 77,401 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Boise Cascade by 30.7% during the third quarter. BNP Paribas Financial Markets now owns 20,716 shares of the construction company's stock worth $2,921,000 after acquiring an additional 4,860 shares in the last quarter. Finally, Bridgewater Associates LP bought a new stake in shares of Boise Cascade in the third quarter valued at about $262,000. 96.18% of the stock is owned by institutional investors.

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Insiders Place Their Bets

In related news, COO Jeffrey Robert Strom sold 4,500 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total value of $450,945.00. Following the sale, the chief operating officer now directly owns 38,026 shares in the company, valued at approximately $3,810,585.46. The trade was a 10.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kristopher J. Matula sold 553 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total transaction of $57,047.48. Following the sale, the director now directly owns 13,099 shares in the company, valued at approximately $1,351,292.84. This trade represents a 4.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.98% of the company's stock.

Analyst Ratings Changes

BCC has been the subject of a number of analyst reports. The Goldman Sachs Group decreased 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. Truist Financial decreased their target price on Boise Cascade from $157.00 to $134.00 and set a "buy" rating on the stock in a report on Monday, February 24th. BMO Capital Markets reduced their price objective on shares of Boise Cascade from $136.00 to $122.00 and set a "market perform" rating for the company in a research report on Tuesday, February 25th. Benchmark reiterated a "hold" rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Finally, Loop Capital cut their target price on Boise Cascade from $145.00 to $140.00 and set a "buy" rating for the company in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $128.50.

Boise Cascade Trading Down 1.6 %

Shares of BCC stock traded down $1.56 during mid-day trading on Friday, reaching $93.07. 398,613 shares of the stock traded hands, compared to its average volume of 325,348. The stock's fifty day simple moving average is $109.88 and its two-hundred day simple moving average is $126.53. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22. Boise Cascade has a 1-year low of $85.80 and a 1-year high of $155.42. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 9.71 and a beta of 1.67.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share for the quarter, missing analysts' consensus estimates of $1.79 by ($0.01). Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion. On average, research analysts anticipate that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, February 24th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.90%. Boise Cascade's dividend payout ratio is presently 8.79%.

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.