Maryland State Retirement & Pension System Sells 210 Shares of Boise Cascade (NYSE:BCC)

Maryland State Retirement & Pension System cut its holdings in Boise Cascade (NYSE:BCC) by 1.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,933 shares of the construction company’s stock after selling 210 shares during the period. Maryland State Retirement & Pension System’s holdings in Boise Cascade were worth $1,537,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. R Squared Ltd bought a new position in Boise Cascade in the 4th quarter worth approximately $29,000. Larson Financial Group LLC boosted its holdings in Boise Cascade by 23.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock worth $53,000 after buying an additional 73 shares during the period. Principal Securities Inc. boosted its holdings in Boise Cascade by 44.2% in the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock worth $56,000 after buying an additional 145 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Boise Cascade by 254.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company’s stock worth $92,000 after buying an additional 558 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its stake in Boise Cascade by 234.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,270 shares of the construction company’s stock worth $179,000 after purchasing an additional 890 shares in the last quarter. 96.18% of the stock is owned by institutional investors.

Boise Cascade Stock Performance

Boise Cascade stock opened at $99.46 on Friday. The firm’s fifty day moving average price is $114.75 and its 200-day moving average price is $128.13. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34. The stock has a market cap of $3.77 billion, a P/E ratio of 10.40 and a beta of 1.67. Boise Cascade has a fifty-two week low of $95.33 and a fifty-two week high of $155.42.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.01). The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. On average, equities research analysts expect that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.84%. The ex-dividend date was Monday, February 24th. Boise Cascade’s dividend payout ratio is presently 8.79%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BCC. BMO Capital Markets lowered their target price on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 25th. DA Davidson lowered their target price on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. The Goldman Sachs Group lowered their target price on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Benchmark reiterated a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Finally, Truist Financial lowered their target price on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $128.50.

Insiders Place Their Bets

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total value of $57,047.48. Following the completion of the sale, the director now directly owns 13,099 shares of the company’s stock, valued at $1,351,292.84. The trade was a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Jeffrey Robert Strom sold 4,500 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total transaction of $450,945.00. Following the completion of the sale, the chief operating officer now directly owns 38,026 shares of the company’s stock, valued at $3,810,585.46. This represents a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by insiders.

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.