Public Employees Retirement System of Ohio Sells 8,793 Shares of Boise Cascade, L.L.C. $BCC

Public Employees Retirement System of Ohio lowered its stake in Boise Cascade, L.L.C. (NYSE:BCC) by 31.4% during the 1st quarter, Holdings Channel reports. The firm owned 19,193 shares of the construction company’s stock after selling 8,793 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Boise Cascade were worth $1,456,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership bought a new stake in shares of Boise Cascade in the first quarter worth about $4,412,000. Cetera Investment Advisers bought a new position in Boise Cascade during the first quarter valued at approximately $342,000. First Trust Advisors LP boosted its stake in Boise Cascade by 9.1% during the first quarter. First Trust Advisors LP now owns 60,024 shares of the construction company’s stock valued at $4,553,000 after buying an additional 4,999 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Boise Cascade by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,325,781 shares of the construction company’s stock valued at $176,410,000 after buying an additional 46,561 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in Boise Cascade by 8.7% during the 1st quarter. Assetmark Inc. now owns 68,207 shares of the construction company’s stock valued at $5,174,000 after buying an additional 5,465 shares in the last quarter. Institutional investors own 96.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BCC shares. Bank of America lifted their price objective on Boise Cascade from $80.00 to $81.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 14th. Weiss Ratings raised shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 18th. DA Davidson reduced their price target on shares of Boise Cascade from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Zacks Research upgraded shares of Boise Cascade from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. Finally, Truist Financial set a $97.00 price target on shares of Boise Cascade in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Boise Cascade has a consensus rating of “Moderate Buy” and a consensus target price of $92.80.

Boise Cascade Trading Up 0.1%

Shares of BCC stock opened at $76.42 on Monday. The company has a market cap of $2.69 billion, a PE ratio of 25.82, a price-to-earnings-growth ratio of 1.05 and a beta of 1.10. Boise Cascade, L.L.C. has a 1 year low of $65.00 and a 1 year high of $91.97. The stock’s 50 day simple moving average is $73.77 and its two-hundred day simple moving average is $76.92. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.77 and a quick ratio of 1.37.

Boise Cascade (NYSE:BCC) last announced its earnings results on Monday, May 4th. The construction company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.07. Boise Cascade had a return on equity of 5.55% and a net margin of 1.73%.The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the business earned $1.06 EPS. The company’s quarterly revenue was down 2.5% on a year-over-year basis. Research analysts predict that Boise Cascade, L.L.C. will post 3.83 earnings per share for the current year.

Boise Cascade Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Tuesday, September 1st will be given a $0.23 dividend. This is a boost from Boise Cascade’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Tuesday, September 1st. Boise Cascade’s dividend payout ratio is 29.73%.

Insider Buying and Selling

In other Boise Cascade news, SVP Jill Twedt sold 6,070 shares of Boise Cascade stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $66.45, for a total transaction of $403,351.50. Following the completion of the transaction, the senior vice president directly owned 26,545 shares of the company’s stock, valued at $1,763,915.25. The trade was a 18.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.42% of the stock is owned by insiders.

Boise Cascade Profile

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.