Public Sector Pension Investment Board Increases Stake in Boise Cascade, L.L.C. $BCC

Public Sector Pension Investment Board increased its stake in Boise Cascade, L.L.C. (NYSE:BCC) by 13.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 145,636 shares of the construction company’s stock after acquiring an additional 17,316 shares during the period. Public Sector Pension Investment Board’s holdings in Boise Cascade were worth $11,261,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of BCC. Norges Bank acquired a new stake in Boise Cascade during the second quarter worth about $39,818,000. Bank of America Corp DE increased its position in Boise Cascade by 76.5% during the 2nd quarter. Bank of America Corp DE now owns 417,642 shares of the construction company’s stock worth $36,260,000 after purchasing an additional 181,025 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in Boise Cascade by 9.7% in the second quarter. Westwood Holdings Group Inc. now owns 1,645,026 shares of the construction company’s stock valued at $142,821,000 after buying an additional 145,721 shares during the period. M&G PLC acquired a new position in Boise Cascade during the second quarter valued at approximately $8,984,000. Finally, Peregrine Capital Management LLC grew its stake in Boise Cascade by 89.2% during the third quarter. Peregrine Capital Management LLC now owns 140,457 shares of the construction company’s stock worth $10,860,000 after buying an additional 66,239 shares during the period. Institutional investors and hedge funds own 96.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BCC. Weiss Ratings raised shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 28th. Truist Financial raised their price objective on Boise Cascade from $88.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. DA Davidson reaffirmed a “buy” rating and issued a $95.00 target price on shares of Boise Cascade in a research report on Thursday, November 20th. Wall Street Zen lowered Boise Cascade from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Boise Cascade in a research report on Thursday, January 8th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $101.83.

Boise Cascade Stock Performance

Shares of BCC opened at $86.56 on Monday. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 17.11 and a beta of 1.27. The company has a quick ratio of 1.69, a current ratio of 3.10 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average is $80.31 and its two-hundred day moving average is $78.82. Boise Cascade, L.L.C. has a 52-week low of $65.14 and a 52-week high of $122.99.

Boise Cascade Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Monday, February 23rd will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Monday, February 23rd. Boise Cascade’s dividend payout ratio is 17.39%.

About Boise Cascade

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company’s operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.