Nordea Investment Management AB Grows Stake in Boise Cascade (NYSE:BCC)

Nordea Investment Management AB lifted its holdings in shares of Boise Cascade (NYSE:BCC - Free Report) by 5.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund 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 approximately 0.31% of Boise Cascade worth $14,454,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Westwood Holdings Group Inc. grew its position in Boise Cascade by 107.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company's stock worth $133,278,000 after purchasing an additional 579,759 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Boise Cascade by 2,978.4% during the second quarter. Marshall Wace LLP now owns 191,047 shares of the construction company's stock worth $22,777,000 after buying an additional 184,841 shares during the period. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Boise Cascade by 46.0% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company's stock valued at $45,661,000 after buying an additional 120,600 shares during the last quarter. Bank of Montreal Can increased its position in shares of Boise Cascade by 1,597.4% in the 3rd quarter. Bank of Montreal Can now owns 126,559 shares of the construction company's stock valued at $17,907,000 after acquiring an additional 119,103 shares during the period. Finally, FMR LLC raised its stake in Boise Cascade by 158.9% in the 3rd quarter. FMR LLC now owns 126,123 shares of the construction company's stock worth $17,781,000 after acquiring an additional 77,401 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BCC. BMO Capital Markets boosted their price target on Boise Cascade from $130.00 to $136.00 and gave the company a "market perform" rating in a research note on Tuesday, October 22nd. Loop Capital started coverage on Boise Cascade in a research report on Friday, November 1st. They issued a "buy" rating and a $155.00 target price on the stock. StockNews.com lowered shares of Boise Cascade from a "buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Bank of America upped their price objective on shares of Boise Cascade from $120.00 to $124.00 and gave the company an "underperform" rating in a report on Thursday, September 12th. Finally, Truist Financial reduced their target price on shares of Boise Cascade from $161.00 to $157.00 and set a "buy" rating for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $138.80.

Boise Cascade Stock Performance

Shares of NYSE BCC traded down $0.93 during midday trading on Thursday, reaching $117.29. 202,015 shares of the stock were exchanged, compared to its average volume of 246,183. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22. The firm has a market cap of $4.50 billion, a price-to-earnings ratio of 11.48 and a beta of 1.58. The firm has a 50-day simple moving average of $135.08 and a two-hundred day simple moving average of $132.93. Boise Cascade has a twelve month low of $113.89 and a twelve month high of $155.42.

Boise Cascade (NYSE:BCC - Get Free Report) last released its quarterly 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). Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the business posted $3.58 EPS. The firm's quarterly revenue was down 6.6% compared to the same quarter last year. As a group, analysts anticipate that Boise Cascade will post 9.57 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend was Monday, December 2nd. Boise Cascade's payout ratio is currently 8.22%.

Boise Cascade Profile

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.