Principal Financial Group Inc. Lowers Stake in Boise Cascade, L.L.C. $BCC

Principal Financial Group Inc. lessened its holdings in Boise Cascade, L.L.C. (NYSE:BCC) by 3.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 180,312 shares of the construction company’s stock after selling 6,309 shares during the period. Principal Financial Group Inc. owned about 0.48% of Boise Cascade worth $13,942,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of BCC. AlphaQuest LLC increased its position in shares of Boise Cascade by 131.5% in the third quarter. AlphaQuest LLC now owns 35,873 shares of the construction company’s stock valued at $2,774,000 after buying an additional 20,378 shares in the last quarter. Capital Fund Management S.A. acquired a new stake in Boise Cascade in the 2nd quarter valued at $2,342,000. ARGA Investment Management LP acquired a new stake in Boise Cascade in the 3rd quarter valued at $1,499,000. American Century Companies Inc. increased its holdings in Boise Cascade by 4.5% in the 2nd quarter. American Century Companies Inc. now owns 1,281,435 shares of the construction company’s stock worth $111,254,000 after acquiring an additional 55,052 shares in the last quarter. Finally, Westwood Holdings Group Inc. raised its position in Boise Cascade by 9.7% during the second quarter. Westwood Holdings Group Inc. now owns 1,645,026 shares of the construction company’s stock worth $142,821,000 after acquiring an additional 145,721 shares during the period. Institutional investors and hedge funds own 96.18% of the company’s stock.

Wall Street Analysts Forecast Growth

BCC has been the topic of several recent analyst reports. DA Davidson reaffirmed a “buy” rating and set a $95.00 price objective on shares of Boise Cascade in a report on Thursday, November 20th. Wall Street Zen lowered shares of Boise Cascade from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Truist Financial lifted their price objective on Boise Cascade from $88.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Weiss Ratings raised Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 28th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Boise Cascade in a research report on Thursday, January 8th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $101.83.

Boise Cascade Stock Up 0.7%

Shares of BCC opened at $89.61 on Wednesday. The firm has a market cap of $3.32 billion, a P/E ratio of 17.71 and a beta of 1.27. Boise Cascade, L.L.C. has a 12-month low of $65.14 and a 12-month high of $124.36. The company’s 50-day moving average price is $79.52 and its 200 day moving average price is $78.78. The company has a current ratio of 3.10, a quick ratio of 1.69 and a debt-to-equity ratio of 0.22.

Boise Cascade Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Monday, February 23rd will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Monday, February 23rd. Boise Cascade’s dividend payout ratio is currently 17.39%.

About Boise Cascade

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.