Public Employees Retirement System of Ohio Sells 8,793 Shares of Boise Cascade, L.L.C. $BCC

Public Employees Retirement System of Ohio lessened its stake in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 31.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,193 shares of the construction company’s stock after selling 8,793 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.05% of Boise Cascade worth $1,456,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BCC. Norges Bank purchased a new position in shares of Boise Cascade during the fourth quarter valued at approximately $42,146,000. Wellington Management Group LLP boosted its holdings in Boise Cascade by 19.8% in the third quarter. Wellington Management Group LLP now owns 3,268,407 shares of the construction company’s stock worth $252,713,000 after purchasing an additional 539,962 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Boise Cascade by 214,282.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 420,189 shares of the construction company’s stock worth $30,926,000 after purchasing an additional 419,993 shares during the last quarter. Concentric Capital Strategies LP boosted its holdings in Boise Cascade by 202.0% in the fourth quarter. Concentric Capital Strategies LP now owns 425,179 shares of the construction company’s stock worth $31,293,000 after purchasing an additional 284,406 shares during the last quarter. Finally, Two Sigma Investments LP grew its position in Boise Cascade by 377.6% in the 3rd quarter. Two Sigma Investments LP now owns 292,556 shares of the construction company’s stock worth $22,620,000 after purchasing an additional 231,302 shares during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BCC shares. Weiss Ratings raised Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Truist Financial set a $97.00 price target on Boise Cascade in a research note on Wednesday, May 6th. Zacks Research raised Boise Cascade from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. DA Davidson reduced their price objective on Boise Cascade from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Finally, Bank of America raised their target price on Boise Cascade from $80.00 to $81.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $92.80.

Boise Cascade Stock Up 0.1%

BCC opened at $76.42 on Monday. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 25.82, a price-to-earnings-growth ratio of 1.05 and a beta of 1.10. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.37 and a current ratio of 2.77. The firm’s fifty day moving average is $73.77 and its 200 day moving average is $76.92. Boise Cascade, L.L.C. has a fifty-two week low of $65.00 and a fifty-two week high of $91.97.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Monday, May 4th. The construction company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.07. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.46 billion. Boise Cascade had a return on equity of 5.55% and a net margin of 1.73%.Boise Cascade’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.06 EPS. On average, sell-side analysts forecast that Boise Cascade, L.L.C. will post 3.83 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Tuesday, September 1st will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.2%. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, September 1st. Boise Cascade’s dividend payout ratio is currently 29.73%.

Insider Activity

In related news, SVP Jill Twedt sold 6,070 shares of Boise Cascade stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $66.45, for a total transaction of $403,351.50. Following the sale, the senior vice president owned 26,545 shares of the company’s stock, valued at approximately $1,763,915.25. This trade represents a 18.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.42% of the company’s stock.

Boise Cascade Company Profile

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company’s operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.