Nordea Investment Management AB Cuts Stock Position in Boise Cascade, L.L.C. $BCC

Key Points

• Nordea Investment Management AB cut its stake in Boise Cascade by 11.8% in Q4, selling 14,824 shares and now holds 110,915 shares worth about $8.21 million (≈0.30% of the company).
• Institutional ownership is very concentrated at 96.18%, with other funds adjusting positions — for example, UBS now owns 203,631 shares (~$19.97M) while AQR, RBC and Jones Financial also increased stakes.
• Boise Cascade pays a quarterly dividend of $0.22 ($0.88 annualized, a 1.2% yield) and carries a MarketBeat consensus rating of Moderate Buy with an average price target of $105.67 despite mixed analyst views.

Nordea Investment Management AB decreased its holdings in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 11.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,915 shares of the construction company's stock after selling 14,824 shares during the quarter. Nordea Investment Management AB owned about 0.30% of Boise Cascade worth $8,209,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Royal Bank of Canada raised its position in Boise Cascade by 4.0% in the first quarter. Royal Bank of Canada now owns 34,704 shares of the construction company's stock valued at $3,404,000 after purchasing an additional 1,332 shares during the period. AQR Capital Management LLC boosted its position in shares of Boise Cascade by 8.8% in the first quarter. AQR Capital Management LLC now owns 36,639 shares of the construction company's stock worth $3,594,000 after buying an additional 2,966 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Boise Cascade by 1,638.4% in the first quarter. Jones Financial Companies Lllp now owns 4,120 shares of the construction company's stock valued at $404,000 after buying an additional 3,883 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of Boise Cascade in the first quarter valued at about $258,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Boise Cascade by 2.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 203,631 shares of the construction company's stock valued at $19,974,000 after buying an additional 3,978 shares during the period. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Trading Up 1.5%

NYSE:BCC opened at $74.71 on Thursday. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 1.05 and a beta of 1.26. Boise Cascade, L.L.C. has a one year low of $65.14 and a one year high of $102.26. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.74 and a current ratio of 3.36. The business's 50-day simple moving average is $80.97 and its 200 day simple moving average is $77.20.

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Monday, February 23rd were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Monday, February 23rd. Boise Cascade's dividend payout ratio is 25.00%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BCC. Weiss Ratings lowered Boise Cascade from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, March 13th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Boise Cascade in a research report on Thursday, January 8th. The Goldman Sachs Group lifted their price objective on shares of Boise Cascade from $85.00 to $94.00 and gave the company a "neutral" rating in a research note on Wednesday, February 25th. Truist Financial boosted their target price on shares of Boise Cascade from $92.00 to $103.00 and gave the stock a "buy" rating in a research report on Wednesday, February 25th. Finally, DA Davidson restated a "buy" rating and issued a $95.00 target price on shares of Boise Cascade in a research note on Tuesday, February 24th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $105.67.

Boise Cascade Profile

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company's operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.