Meeder Asset Management Inc. Boosts Stake in Boise Cascade (NYSE:BCC)

Meeder Asset Management Inc. grew its stake in shares of Boise Cascade (NYSE:BCC) by 22.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Cerity Partners LLC increased its position in Boise Cascade by 34.5% during the 3rd quarter. Cerity Partners LLC now owns 3,897 shares of the construction company’s stock worth $549,000 after purchasing an additional 999 shares in the last quarter. Bank of Montreal Can raised its position in shares of Boise Cascade by 1,597.4% in the third quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock valued at $17,907,000 after buying an additional 119,103 shares during the last quarter. FMR LLC lifted its stake in shares of Boise Cascade by 158.9% during 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 during the period. BNP Paribas Financial Markets boosted its position in 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 during the last quarter. Finally, Bridgewater Associates LP purchased a new stake in Boise Cascade in the 3rd quarter worth approximately $262,000. 96.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BCC. Loop Capital reduced their price target on Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. DA Davidson decreased their price target on Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Truist Financial dropped their price objective on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a research note on Monday, February 24th. The Goldman Sachs Group decreased their target price on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Finally, BMO Capital Markets dropped their price target 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $128.50.

Boise Cascade Stock Down 2.1 %

BCC opened at $98.28 on Monday. The company has a market cap of $3.73 billion, a PE ratio of 10.28 and a beta of 1.67. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34. Boise Cascade has a 1 year low of $95.33 and a 1 year high of $155.42. The firm has a 50 day moving average price of $112.29 and a 200 day moving average price of $127.39.

Boise Cascade (NYSE:BCC) last issued its earnings results on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Sell-side analysts expect that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend was Monday, February 24th. Boise Cascade’s payout ratio is 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.