Boise Cascade (NYSE:BCC) Stock Holdings Increased by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp grew its position in shares of Boise Cascade (NYSE:BCC) by 5.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,584 shares of the construction company’s stock after buying an additional 1,935 shares during the period. Texas Permanent School Fund Corp owned about 0.09% of Boise Cascade worth $4,362,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Measured Wealth Private Client Group LLC boosted its holdings in Boise Cascade by 1.8% in the first quarter. Measured Wealth Private Client Group LLC now owns 5,273 shares of the construction company’s stock worth $809,000 after purchasing an additional 95 shares during the period. SummerHaven Investment Management LLC boosted its holdings in shares of Boise Cascade by 1.5% in the 2nd quarter. SummerHaven Investment Management LLC now owns 7,776 shares of the construction company’s stock valued at $927,000 after buying an additional 113 shares during the period. Miller Howard Investments Inc. NY grew its position in shares of Boise Cascade by 2.1% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 5,892 shares of the construction company’s stock valued at $702,000 after buying an additional 124 shares during the last quarter. MorganRosel Wealth Management LLC raised its stake in Boise Cascade by 1.8% during the second quarter. MorganRosel Wealth Management LLC now owns 7,756 shares of the construction company’s stock worth $925,000 after acquiring an additional 138 shares during the period. Finally, Bridge City Capital LLC lifted its holdings in Boise Cascade by 0.8% in the first quarter. Bridge City Capital LLC now owns 18,270 shares of the construction company’s stock worth $2,802,000 after acquiring an additional 143 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BCC shares. The Goldman Sachs Group dropped their price target on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Truist Financial reiterated a “buy” rating and issued a $154.00 target price (down from $159.00) on shares of Boise Cascade in a research note on Wednesday, August 7th. Bank of America boosted 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. Finally, StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $128.00.

Boise Cascade Trading Up 6.6 %

Shares of BCC stock opened at $135.86 on Friday. Boise Cascade has a 1 year low of $87.32 and a 1 year high of $154.67. The firm has a market capitalization of $5.36 billion, a PE ratio of 11.05 and a beta of 1.52. The stock has a fifty day moving average of $129.16 and a two-hundred day moving average of $133.28. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.08 and a current ratio of 3.28.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Monday, August 5th. The construction company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.16. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.77 billion. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.67 earnings per share. As a group, research analysts expect that Boise Cascade will post 9.76 EPS for the current year.

Boise Cascade Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be issued a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a boost from Boise Cascade’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.62%. Boise Cascade’s dividend payout ratio (DPR) is 6.83%.

About Boise Cascade

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.