DekaBank Deutsche Girozentrale Purchases 20,712 Shares of Boise Cascade (NYSE:BCC)

DekaBank Deutsche Girozentrale grew its stake in shares of Boise Cascade (NYSE:BCC - Free Report) by 54.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,919 shares of the construction company's stock after acquiring an additional 20,712 shares during the period. DekaBank Deutsche Girozentrale owned 0.15% of Boise Cascade worth $7,596,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. QRG Capital Management Inc. purchased a new position in shares of Boise Cascade during the 3rd quarter valued at $2,682,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Boise Cascade by 23.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,241 shares of the construction company's stock valued at $952,000 after acquiring an additional 1,772 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in Boise Cascade by 312.5% in the third quarter. Hsbc Holdings PLC now owns 30,893 shares of the construction company's stock worth $3,225,000 after purchasing an additional 23,404 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Boise Cascade by 361.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,629 shares of the construction company's stock worth $1,095,000 after purchasing an additional 8,328 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Boise Cascade by 14.2% in the third quarter. American Century Companies Inc. now owns 701,301 shares of the construction company's stock worth $72,262,000 after purchasing an additional 87,411 shares in the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BCC has been the subject of a number of recent research reports. StockNews.com cut shares of Boise Cascade from a "buy" rating to a "hold" rating in a report on Friday, February 23rd. Truist Financial upped their price objective on shares of Boise Cascade from $156.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, March 21st. Finally, The Goldman Sachs Group upped their price objective on shares of Boise Cascade from $114.00 to $129.00 and gave the stock a "neutral" rating in a report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $125.00.

Boise Cascade Stock Performance

Boise Cascade stock traded up $2.96 on Thursday, reaching $151.88. 326,199 shares of the stock were exchanged, compared to its average volume of 291,535. The stock has a market cap of $6.01 billion, a PE ratio of 12.53 and a beta of 1.60. The company has a current ratio of 3.46, a quick ratio of 2.26 and a debt-to-equity ratio of 0.22. Boise Cascade has a twelve month low of $63.21 and a twelve month high of $154.67. The firm has a fifty day moving average price of $139.67 and a two-hundred day moving average price of $122.73.

Boise Cascade (NYSE:BCC - Get Free Report) last released its earnings results on Wednesday, February 21st. The construction company reported $2.44 earnings per share for the quarter, missing analysts' consensus estimates of $2.45 by ($0.01). The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.64 billion. Boise Cascade had a return on equity of 21.94% and a net margin of 7.07%. The firm's revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.95 EPS. Sell-side analysts anticipate that Boise Cascade will post 11.58 EPS for the current year.

Boise Cascade Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 23rd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Thursday, February 22nd. Boise Cascade's dividend payout ratio is 6.60%.

Insiders Place Their Bets

In other news, EVP Dean Michael Brown sold 11,117 shares of the company's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $139.09, for a total transaction of $1,546,263.53. Following the completion of the transaction, the executive vice president now owns 40,237 shares of the company's stock, valued at $5,596,564.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.05% of the company's stock.

Boise Cascade Company 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.