Meeder Asset Management Inc. Buys 14,770 Shares of Boise Cascade, L.L.C. (NYSE:BCC)

Key Points

• Meeder Asset Management Inc. increased its holdings in Boise Cascade by 43.3%, now owning 48,858 shares valued at approximately $4.79 million according to the latest SEC filing.
• Multiple institutional investors have also increased their positions in Boise Cascade, with 96.18% of the stock currently owned by these investors, reflecting strong institutional interest.
• Boise Cascade recently reported $1.06 EPS for the quarter, missing estimates by $0.30, and had a reported revenue of $1.54 billion, down 6.6% year-over-year.

Meeder Asset Management Inc. boosted its position in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 43.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,858 shares of the construction company's stock after buying an additional 14,770 shares during the quarter. Meeder Asset Management Inc. owned 0.13% of Boise Cascade worth $4,792,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of BCC. Raymond James Financial Inc. acquired a new position in shares of Boise Cascade during the fourth quarter worth approximately $1,601,000. Corient Private Wealth LLC lifted its stake in Boise Cascade by 19.3% in the fourth quarter. Corient Private Wealth LLC now owns 1,915 shares of the construction company's stock valued at $236,000 after acquiring an additional 310 shares during the last quarter. LPL Financial LLC lifted its holdings in Boise Cascade by 29.1% during the 4th quarter. LPL Financial LLC now owns 14,127 shares of the construction company's stock valued at $1,679,000 after purchasing an additional 3,187 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Boise Cascade by 133.7% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,016 shares of the construction company's stock worth $834,000 after purchasing an additional 4,014 shares during the period. Finally, Norges Bank acquired a new position in shares of Boise Cascade during the 4th quarter worth approximately $55,680,000. Hedge funds and other institutional investors own 96.18% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Truist Financial reduced their price objective on shares of Boise Cascade from $114.00 to $106.00 and set a "buy" rating on the stock in a research note on Tuesday, July 8th. Bank of America dropped their target price on shares of Boise Cascade from $111.00 to $107.00 and set a "buy" rating on the stock in a report on Wednesday, July 9th. DA Davidson decreased their price target on shares of Boise Cascade from $115.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Finally, Loop Capital lowered their price target on Boise Cascade from $140.00 to $135.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Boise Cascade currently has a consensus rating of "Moderate Buy" and an average price target of $116.00.

Insiders Place Their Bets

In other news, EVP Joanna L. Barney sold 1,000 shares of Boise Cascade stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $87.68, for a total value of $87,680.00. Following the completion of the transaction, the executive vice president directly owned 12,372 shares of the company's stock, valued at approximately $1,084,776.96. The trade was a 7.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Jill Twedt sold 1,200 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $88.01, for a total transaction of $105,612.00. Following the completion of the transaction, the senior vice president owned 34,649 shares of the company's stock, valued at $3,049,458.49. This represents a 3.35% decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by company insiders.

Boise Cascade Stock Performance

Shares of NYSE BCC traded down $0.43 during midday trading on Friday, reaching $83.38. 151,624 shares of the company were exchanged, compared to its average volume of 348,811. The company has a current ratio of 2.82, a quick ratio of 1.51 and a debt-to-equity ratio of 0.22. The stock has a fifty day simple moving average of $87.77 and a 200 day simple moving average of $98.82. Boise Cascade, L.L.C. has a 1 year low of $81.89 and a 1 year high of $155.42. The stock has a market cap of $3.14 billion, a P/E ratio of 10.41, a PEG ratio of 4.14 and a beta of 1.34.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The construction company reported $1.06 earnings per share for the quarter, missing analysts' consensus estimates of $1.36 by ($0.30). Boise Cascade had a return on equity of 14.36% and a net margin of 4.72%. The business had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.53 billion. During the same period last year, the business earned $2.61 earnings per share. The company's revenue for the quarter was down 6.6% on a year-over-year basis. On average, research analysts forecast that Boise Cascade, L.L.C. will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.1%. This is a positive change from Boise Cascade's previous quarterly dividend of $0.21. Boise Cascade's dividend payout ratio (DPR) is presently 10.49%.

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.