New York State Teachers Retirement System Sells 719 Shares of Boise Cascade (NYSE:BCC)

New York State Teachers Retirement System cut its stake in Boise Cascade (NYSE:BCC) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,313 shares of the construction company’s stock after selling 719 shares during the quarter. New York State Teachers Retirement System owned about 0.07% of Boise Cascade worth $3,128,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new stake in Boise Cascade in the third quarter worth $28,000. R Squared Ltd bought a new stake in Boise Cascade in the fourth quarter worth $29,000. Larson Financial Group LLC lifted its position in shares of Boise Cascade by 23.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock worth $53,000 after purchasing an additional 73 shares during the last quarter. CWM LLC lifted its position in shares of Boise Cascade by 26.5% during the third quarter. CWM LLC now owns 673 shares of the construction company’s stock worth $95,000 after purchasing an additional 141 shares during the last quarter. Finally, Covestor Ltd lifted its position in shares of Boise Cascade by 50.1% during the third quarter. Covestor Ltd now owns 689 shares of the construction company’s stock worth $97,000 after purchasing an additional 230 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Stock Performance

Shares of Boise Cascade stock opened at $106.98 on Friday. The firm has a market cap of $4.11 billion, a P/E ratio of 10.47 and a beta of 1.57. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. Boise Cascade has a 12 month low of $103.57 and a 12 month high of $155.42. The stock’s fifty day moving average price is $123.15 and its 200-day moving average price is $132.27.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.01). The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. On average, equities research analysts expect that Boise Cascade will post 9.6 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, February 24th. This represents a $0.84 annualized dividend and a dividend yield of 0.79%. Boise Cascade’s dividend payout ratio is currently 8.22%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Loop Capital assumed coverage on Boise Cascade in a research report on Friday, November 1st. They set a “buy” rating and a $155.00 target price for the company. The Goldman Sachs Group decreased their target price on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Truist Financial decreased their target price on Boise Cascade from $161.00 to $157.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $139.60.

Boise Cascade Company 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.