State of New Jersey Common Pension Fund D Has $1.81 Million Position in Boise Cascade (NYSE:BCC)

State of New Jersey Common Pension Fund D boosted its stake in Boise Cascade (NYSE:BCC) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,192 shares of the construction company’s stock after purchasing an additional 423 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Boise Cascade were worth $1,806,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tidal Investments LLC increased its holdings in Boise Cascade by 341.9% during the 3rd quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock worth $2,229,000 after purchasing an additional 12,231 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Boise Cascade by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock worth $61,680,000 after buying an additional 9,128 shares in the last quarter. Fulcrum Capital LLC purchased a new stake in Boise Cascade in the 4th quarter valued at $1,092,000. Nordea Investment Management AB lifted its stake in Boise Cascade by 5.0% during the 4th quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company’s stock valued at $14,454,000 after acquiring an additional 5,779 shares in the last quarter. Finally, Barclays PLC lifted its stake in Boise Cascade by 174.1% during the 3rd quarter. Barclays PLC now owns 90,366 shares of the construction company’s stock valued at $12,739,000 after acquiring an additional 57,403 shares in the last quarter. 96.18% of the stock is owned by institutional investors.

Boise Cascade Price Performance

Shares of NYSE BCC opened at $106.52 on Wednesday. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22. The stock has a fifty day simple moving average of $121.97 and a two-hundred day simple moving average of $132.03. Boise Cascade has a 1-year low of $102.27 and a 1-year high of $155.42. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 11.14 and a beta of 1.57.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Analysts anticipate that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date is Monday, February 24th. Boise Cascade’s payout ratio is currently 8.79%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group dropped their price target on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. DA Davidson reduced their target price on Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a report on Monday. Truist Financial dropped their price target on Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a report on Monday. Finally, Benchmark reissued a “hold” rating on shares of Boise Cascade in a research report on Tuesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $128.50.

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.