Public Employees Retirement Association of Colorado Cuts Stake in Boise Cascade (NYSE:BCC)

Public Employees Retirement Association of Colorado reduced its stake in shares of Boise Cascade (NYSE:BCC) by 51.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,652 shares of the construction company’s stock after selling 68,799 shares during the period. Public Employees Retirement Association of Colorado owned 0.17% of Boise Cascade worth $7,566,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of BCC. R Squared Ltd acquired a new stake in Boise Cascade during the 4th quarter worth approximately $29,000. Quarry LP increased its position in Boise Cascade by 502.4% during the 4th quarter. Quarry LP now owns 253 shares of the construction company’s stock worth $30,000 after purchasing an additional 211 shares in the last quarter. Principal Securities Inc. increased its position in Boise Cascade by 44.2% during the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock worth $56,000 after purchasing an additional 145 shares in the last quarter. Smartleaf Asset Management LLC increased its position in Boise Cascade by 254.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company’s stock worth $92,000 after purchasing an additional 558 shares in the last quarter. Finally, PEAK6 LLC acquired a new stake in Boise Cascade during the 4th quarter worth approximately $201,000. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Boise Cascade

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of the company’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 completion of the transaction, the director now owns 13,099 shares in the company, valued at approximately $1,351,292.84. This represents a 4.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jeffrey Robert Strom sold 4,500 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total transaction of $450,945.00. Following the completion of the transaction, the chief operating officer now owns 38,026 shares of the company’s stock, valued at approximately $3,810,585.46. This trade represents a 10.58 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.98% of the company’s stock.

Boise Cascade Stock Performance

Shares of BCC opened at $95.50 on Tuesday. The business’s fifty day moving average price is $98.46 and its 200 day moving average price is $120.33. Boise Cascade has a 12-month low of $87.84 and a 12-month high of $155.42. The stock has a market capitalization of $3.63 billion, a PE ratio of 9.99 and a beta of 1.52. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data 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). Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion. Equities research analysts forecast that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Monday, February 24th. Boise Cascade’s dividend payout ratio (DPR) is 8.79%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. DA Davidson dropped their target price on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Benchmark reaffirmed a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. Loop Capital lowered their price objective on shares of Boise Cascade from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Truist Financial decreased their price target on shares of Boise Cascade from $134.00 to $118.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group decreased their price target on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. One equities 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 company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $125.00.

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.