Maryland State Retirement & Pension System Reduces Holdings in Boise Cascade (NYSE:BCC)

Maryland State Retirement & Pension System lowered its position in shares of Boise Cascade (NYSE:BCC) by 1.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 14,389 shares of the construction company’s stock after selling 193 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Boise Cascade were worth $1,861,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. SummerHaven Investment Management LLC increased its stake in shares of Boise Cascade by 1.2% during the fourth quarter. SummerHaven Investment Management LLC now owns 7,593 shares of the construction company’s stock worth $982,000 after purchasing an additional 93 shares in the last quarter. New York State Teachers Retirement System increased its stake in Boise Cascade by 0.4% during the fourth quarter. New York State Teachers Retirement System now owns 30,844 shares of the construction company’s stock worth $3,990,000 after acquiring an additional 108 shares during the last quarter. Arizona State Retirement System raised its holdings in Boise Cascade by 1.3% in the 3rd quarter. Arizona State Retirement System now owns 11,272 shares of the construction company’s stock valued at $1,161,000 after buying an additional 145 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Boise Cascade by 2.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,429 shares of the construction company’s stock valued at $1,220,000 after acquiring an additional 188 shares during the period. Finally, Global Retirement Partners LLC lifted its stake in Boise Cascade by 1,147.1% during the fourth quarter. Global Retirement Partners LLC now owns 212 shares of the construction company’s stock worth $28,000 after purchasing an additional 195 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Stock Up 2.4 %

Shares of NYSE BCC traded up $3.09 during midday trading on Wednesday, reaching $133.76. 48,317 shares of the company’s stock were exchanged, compared to its average volume of 298,584. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.26 and a current ratio of 3.46. Boise Cascade has a 52-week low of $71.50 and a 52-week high of $154.67. The business’s fifty day moving average price is $140.32 and its two-hundred day moving average price is $128.04. The stock has a market capitalization of $5.29 billion, a PE ratio of 10.78 and a beta of 1.64.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Monday, May 6th. The construction company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.31. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.56 billion. Boise Cascade had a return on equity of 21.94% and a net margin of 7.07%. The business’s revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $2.43 EPS. Analysts forecast that Boise Cascade will post 11.44 EPS for the current year.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a $0.20 dividend. The ex-dividend date is Monday, June 3rd. This represents a $0.80 annualized dividend and a dividend yield of 0.60%. Boise Cascade’s dividend payout ratio is currently 6.60%.

Insiders Place Their Bets

In other news, EVP Dean Michael Brown sold 11,117 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $139.09, for a total value of $1,546,263.53. Following the completion of the sale, the executive vice president now directly owns 40,237 shares of the company’s stock, valued at $5,596,564.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BCC shares. The Goldman Sachs Group lifted their price target on Boise Cascade from $114.00 to $129.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. StockNews.com raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Truist Financial raised their price target on Boise Cascade from $156.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $125.00.

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.