Boise Cascade (NYSE:BCC) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its position in shares of Boise Cascade (NYSE:BCC) by 180.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 33,208 shares of the construction company’s stock after acquiring an additional 21,385 shares during the quarter. Teacher Retirement System of Texas’ holdings in Boise Cascade were worth $3,947,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Tidal Investments LLC raised its holdings in shares of Boise Cascade by 341.9% during the third 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 during the period. Charles Schwab Investment Management Inc. grew its position in shares of Boise Cascade by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock valued at $61,680,000 after buying an additional 9,128 shares during the last quarter. Fulcrum Capital LLC acquired a new stake in Boise Cascade during the fourth quarter worth about $1,092,000. D.A. Davidson & CO. lifted its holdings in Boise Cascade by 4.2% in the fourth quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company’s stock worth $388,000 after acquiring an additional 133 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Boise Cascade by 5.0% during the fourth quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company’s stock valued at $14,454,000 after purchasing an additional 5,779 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Stock Performance

Shares of BCC opened at $103.35 on Tuesday. The firm has a market capitalization of $3.92 billion, a PE ratio of 10.81 and a beta of 1.67. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $114.41 and a 200 day moving average price of $128.02. Boise Cascade has a 52-week low of $95.33 and a 52-week high of $155.42.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data 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 company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.57 billion. On average, sell-side analysts anticipate that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend was Monday, February 24th. Boise Cascade’s dividend payout ratio is presently 8.79%.

Analysts Set New Price Targets

Several brokerages recently issued reports on BCC. Truist Financial cut 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, February 24th. DA Davidson cut their target price on Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Benchmark restated a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. Loop Capital cut their price objective on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Finally, BMO Capital Markets decreased their target price on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $128.50.

Insider Activity

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total value of $57,047.48. Following the sale, the director now directly owns 13,099 shares in the company, valued at approximately $1,351,292.84. The trade was a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey Robert Strom sold 4,500 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total transaction of $450,945.00. Following the completion of the sale, the chief operating officer now directly owns 38,026 shares of the company’s stock, valued at $3,810,585.46. The trade was a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.98% of the company’s stock.

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.