Boise Cascade (NYSE:BCC) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado cut its stake in Boise Cascade (NYSE:BCC) by 0.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,792 shares of the construction company’s stock after selling 467 shares during the period. Public Employees Retirement Association of Colorado owned 0.34% of Boise Cascade worth $15,831,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of BCC. Principal Securities Inc. purchased a new stake in shares of Boise Cascade during the fourth quarter valued at $27,000. Scarborough Advisors LLC purchased a new stake in Boise Cascade during the 4th quarter valued at about $36,000. Larson Financial Group LLC acquired a new position in shares of Boise Cascade in the second quarter valued at about $36,000. iA Global Asset Management Inc. purchased a new position in shares of Boise Cascade in the first quarter worth about $82,000. Finally, Daiwa Securities Group Inc. raised its stake in shares of Boise Cascade by 500.0% in the first quarter. Daiwa Securities Group Inc. now owns 600 shares of the construction company’s stock worth $92,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Truist Financial reissued a “buy” rating and set a $154.00 target price (down previously from $159.00) on shares of Boise Cascade in a report on Wednesday, August 7th. The Goldman Sachs Group lowered their price target on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, Bank of America lifted their price objective on Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $128.00.

Boise Cascade Stock Performance

Shares of NYSE BCC opened at $137.44 on Friday. Boise Cascade has a 1 year low of $87.32 and a 1 year high of $154.67. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.08 and a current ratio of 3.28. The company’s fifty day moving average price is $131.44 and its 200 day moving average price is $133.41. The company has a market capitalization of $5.43 billion, a PE ratio of 11.17 and a beta of 1.52.

Boise Cascade (NYSE:BCC) last posted its earnings results on Monday, August 5th. The construction company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.16. Boise Cascade had a return on equity of 20.17% and a net margin of 6.60%. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period last year, the firm earned $3.67 EPS. The company’s quarterly revenue was down 1.0% on a year-over-year basis. On average, research analysts predict that Boise Cascade will post 9.76 earnings per share for the current year.

Boise Cascade Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.61%. This is an increase from Boise Cascade’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, September 3rd. Boise Cascade’s dividend payout ratio is presently 6.83%.

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.