Boise Cascade (NYSE:BCC) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury decreased its stake in shares of Boise Cascade (NYSE:BCC) by 11.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,989 shares of the construction company’s stock after selling 2,064 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Boise Cascade were worth $1,900,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in BCC. Barclays PLC lifted its holdings in shares of Boise Cascade by 174.1% during the third quarter. Barclays PLC now owns 90,366 shares of the construction company’s stock worth $12,739,000 after purchasing an additional 57,403 shares during the period. Invst LLC lifted its stake in Boise Cascade by 2.6% during the 3rd quarter. Invst LLC now owns 5,060 shares of the construction company’s stock valued at $713,000 after acquiring an additional 128 shares during the period. World Investment Advisors LLC acquired a new stake in Boise Cascade during the 3rd quarter valued at approximately $3,995,000. Tidal Investments LLC boosted its holdings in shares of Boise Cascade by 341.9% in the 3rd quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock valued at $2,229,000 after acquiring an additional 12,231 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Boise Cascade by 0.8% in the third quarter. Franklin Resources Inc. now owns 43,958 shares of the construction company’s stock worth $6,285,000 after acquiring an additional 335 shares during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Insider Buying and Selling at Boise Cascade

In other Boise Cascade news, 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 value of $450,945.00. Following the transaction, the chief operating officer now owns 38,026 shares of the company’s stock, valued at $3,810,585.46. This represents a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kristopher J. Matula sold 553 shares of Boise Cascade stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total transaction of $57,047.48. Following the sale, the director now owns 13,099 shares of the company’s stock, valued at approximately $1,351,292.84. This represents a 4.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by company insiders.

Boise Cascade Price Performance

Shares of NYSE BCC opened at $94.45 on Wednesday. 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 has a fifty day moving average of $98.02 and a 200 day moving average of $120.15. The firm has a market cap of $3.59 billion, a PE ratio of 9.88 and a beta of 1.52. Boise Cascade has a one year low of $87.84 and a one year high of $155.42.

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

Boise Cascade Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date was Monday, February 24th. Boise Cascade’s dividend payout ratio (DPR) is presently 8.79%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BCC shares. Benchmark reaffirmed a “hold” rating on shares of Boise Cascade in a report on Tuesday, February 25th. DA Davidson dropped their target price on Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, February 24th. BMO Capital Markets decreased their price target on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a report on Tuesday, February 25th. The Goldman Sachs Group dropped their price objective on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Finally, Truist Financial lowered their price target on shares of Boise Cascade from $134.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $125.00.

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.