State of Alaska Department of Revenue Lowers Holdings in Boise Cascade (NYSE:BCC)

State of Alaska Department of Revenue trimmed its position in Boise Cascade (NYSE:BCC) by 1.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,118 shares of the construction company’s stock after selling 238 shares during the period. State of Alaska Department of Revenue owned approximately 0.06% of Boise Cascade worth $3,698,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Leuthold Group LLC boosted its position in shares of Boise Cascade by 10.0% during the 4th quarter. Leuthold Group LLC now owns 25,252 shares of the construction company’s stock worth $3,267,000 after purchasing an additional 2,299 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Boise Cascade by 1,809.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 12,659 shares of the construction company’s stock worth $1,638,000 after purchasing an additional 11,996 shares in the last quarter. Jackson Creek Investment Advisors LLC purchased a new stake in shares of Boise Cascade during the 4th quarter worth $1,200,000. Vanguard Group Inc. boosted its position in shares of Boise Cascade by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 4,709,276 shares of the construction company’s stock worth $609,192,000 after purchasing an additional 35,963 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Boise Cascade by 54.2% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 58,919 shares of the construction company’s stock worth $7,596,000 after purchasing an additional 20,712 shares in the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. StockNews.com upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating in a research report on Tuesday, May 7th. Truist Financial lifted their price target on Boise Cascade from $156.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $131.75.

Insider Activity

In other news, SVP Jill Twedt sold 1,852 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $135.00, for a total transaction of $250,020.00. Following the completion of the transaction, the senior vice president now owns 37,437 shares of the company’s stock, valued at approximately $5,053,995. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Jeffrey Robert Strom sold 2,500 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $135.00, for a total transaction of $337,500.00. Following the completion of the sale, the executive vice president now owns 43,353 shares in the company, valued at approximately $5,852,655. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jill Twedt sold 1,852 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $135.00, for a total value of $250,020.00. Following the completion of the transaction, the senior vice president now owns 37,437 shares of the company’s stock, valued at approximately $5,053,995. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.

Boise Cascade Trading Down 1.3 %

NYSE:BCC opened at $115.94 on Friday. The company has a market capitalization of $4.58 billion, a PE ratio of 9.43 and a beta of 1.50. The company has a quick ratio of 2.05, a current ratio of 3.24 and a debt-to-equity ratio of 0.21. Boise Cascade has a 52-week low of $87.32 and a 52-week high of $154.67. The stock has a fifty day simple moving average of $130.27 and a 200-day simple moving average of $134.35.

Boise Cascade (NYSE:BCC) last announced its earnings results on Monday, May 6th. The construction company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.31. Boise Cascade had a net margin of 7.08% and a return on equity of 22.00%. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the company posted $2.43 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities research analysts expect that Boise Cascade will post 10.84 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.69%. The ex-dividend date was Monday, June 3rd. Boise Cascade’s payout ratio is 6.50%.

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.