Boise Cascade (NYSE:BCC) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky cut its position in shares of Boise Cascade (NYSE:BCC) by 14.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,003 shares of the construction company’s stock after selling 4,286 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Boise Cascade were worth $3,099,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of BCC. Westwood Holdings Group Inc. raised its stake in Boise Cascade by 107.7% during the second quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company’s stock worth $133,278,000 after purchasing an additional 579,759 shares during the period. Marshall Wace LLP raised its stake in Boise Cascade by 2,978.4% during the second quarter. Marshall Wace LLP now owns 191,047 shares of the construction company’s stock worth $22,777,000 after purchasing an additional 184,841 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Boise Cascade by 293.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 236,980 shares of the construction company’s stock worth $36,346,000 after purchasing an additional 176,738 shares during the period. Skandinaviska Enskilda Banken AB publ raised its stake in Boise Cascade by 46.0% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company’s stock worth $45,661,000 after purchasing an additional 120,600 shares during the period. Finally, Public Employees Retirement Association of Colorado raised its stake in Boise Cascade by 358.0% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 133,961 shares of the construction company’s stock worth $17,329,000 after purchasing an additional 104,713 shares during the period. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Trading Down 0.9 %

Shares of BCC stock opened at $138.29 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.08 and a current ratio of 3.28. The stock has a market capitalization of $5.46 billion, a P/E ratio of 11.18 and a beta of 1.52. The company has a 50 day moving average price of $132.80 and a 200 day moving average price of $134.08. Boise Cascade has a fifty-two week low of $87.32 and a fifty-two week high of $154.67.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Monday, August 5th. The construction company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.16. The firm had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.67 earnings per share. Equities research analysts predict that Boise Cascade will post 9.71 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were issued a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.61%. This is a boost from Boise Cascade’s previous quarterly dividend of $0.20. Boise Cascade’s payout ratio is 6.83%.

Analysts Set New Price Targets

A number of equities analysts have commented on BCC shares. The Goldman Sachs Group reduced their target price on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Truist Financial reissued a “buy” rating and issued a $154.00 price target (down from $159.00) on shares of Boise Cascade in a research note on Wednesday, August 7th. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Bank of America boosted their price target on shares of Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Boise Cascade presently has an average rating of “Hold” and an average price target of $128.00.

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.