California Public Employees Retirement System Sells 1,943 Shares of Boise Cascade (NYSE:BCC)

California Public Employees Retirement System lowered its position in Boise Cascade (NYSE:BCC) by 2.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 64,601 shares of the construction company’s stock after selling 1,943 shares during the period. California Public Employees Retirement System owned 0.17% of Boise Cascade worth $7,678,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership lifted its holdings in Boise Cascade by 118.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 41,895 shares of the construction company’s stock valued at $4,980,000 after buying an additional 22,689 shares during the period. Orion Portfolio Solutions LLC lifted its stake in shares of Boise Cascade by 27.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 2,582 shares of the construction company’s stock valued at $307,000 after purchasing an additional 559 shares during the period. Pictet Asset Management Holding SA boosted its position in shares of Boise Cascade by 43.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 84,423 shares of the construction company’s stock valued at $10,035,000 after purchasing an additional 25,673 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in Boise Cascade during the fourth quarter worth approximately $500,000. Finally, Norges Bank bought a new stake in Boise Cascade in the fourth quarter worth approximately $55,680,000. 96.18% of the stock is owned by institutional investors.

Insider Activity at Boise Cascade

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total value of $57,047.48. Following the completion of the transaction, the director now owns 13,099 shares in the company, valued at $1,351,292.84. This represents a 4.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey Robert Strom sold 4,500 shares of Boise Cascade stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total value of $450,945.00. Following the sale, the chief operating officer now owns 38,026 shares in the company, 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. 0.98% of the stock is owned by insiders.

Boise Cascade Price Performance

Shares of NYSE BCC opened at $91.82 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34. The firm’s 50-day simple moving average is $108.52 and its 200 day simple moving average is $125.74. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of 9.60 and a beta of 1.52. Boise Cascade has a fifty-two week low of $89.10 and a fifty-two week high of $155.42.

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

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th were issued a $0.21 dividend. The ex-dividend date was Monday, February 24th. This represents a $0.84 annualized dividend and a dividend yield of 0.91%. Boise Cascade’s dividend payout ratio is currently 8.79%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BCC. BMO Capital Markets cut their price target on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a report on Tuesday, February 25th. DA Davidson cut their target price on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Truist Financial decreased their price target on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a research note on Monday, February 24th. The Goldman Sachs Group reduced their target price on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Finally, Benchmark reaffirmed a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Boise Cascade has an average rating of “Hold” and a consensus price target of $128.50.

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.