Boise Cascade (NYSE:BCC) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its position in shares of Boise Cascade (NYSE:BCC) by 9.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,032 shares of the construction company’s stock after selling 2,912 shares during the period. New York State Teachers Retirement System’s holdings in Boise Cascade were worth $3,811,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Larson Financial Group LLC acquired a new stake in shares of Boise Cascade during the 2nd quarter worth about $36,000. iA Global Asset Management Inc. acquired a new stake in shares of Boise Cascade in the first quarter worth approximately $82,000. Daiwa Securities Group Inc. raised its holdings in Boise Cascade by 500.0% in the first quarter. Daiwa Securities Group Inc. now owns 600 shares of the construction company’s stock valued at $92,000 after buying an additional 500 shares during the period. GAMMA Investing LLC raised its holdings in Boise Cascade by 33.4% in the second quarter. GAMMA Investing LLC now owns 787 shares of the construction company’s stock valued at $94,000 after buying an additional 197 shares during the period. Finally, CWM LLC raised its holdings in Boise Cascade by 26.5% in the third quarter. CWM LLC now owns 673 shares of the construction company’s stock valued at $95,000 after buying an additional 141 shares during the period. 96.18% of the stock is owned by institutional investors and hedge funds.

Boise Cascade Trading Up 2.4 %

BCC opened at $141.76 on Thursday. The company has a quick ratio of 2.08, a current ratio of 3.28 and a debt-to-equity ratio of 0.21. The firm’s 50 day moving average is $136.25 and its 200-day moving average is $132.57. The firm has a market capitalization of $5.60 billion, a P/E ratio of 12.36 and a beta of 1.53. Boise Cascade has a 52-week low of $101.82 and a 52-week high of $154.67.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.72 billion. Boise Cascade had a return on equity of 20.17% and a net margin of 6.60%. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.58 EPS. Analysts expect that Boise Cascade will post 9.69 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be paid a $0.21 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.59%. Boise Cascade’s dividend payout ratio (DPR) is presently 7.32%.

Analyst Upgrades and Downgrades

BCC has been the topic of several research reports. Bank of America raised their price target on shares of Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a report on Thursday, September 12th. The Goldman Sachs Group dropped their price objective 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 lifted their price objective on shares of Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Loop Capital started coverage on shares of Boise Cascade in a research note on Friday, November 1st. They set a “buy” rating and a $155.00 price objective on the stock. Finally, StockNews.com lowered shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Boise Cascade presently has a consensus rating of “Hold” and a consensus target price of $139.60.

Boise Cascade 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.