State of New Jersey Common Pension Fund D Grows Position in Boise Cascade, L.L.C. $BCC

State of New Jersey Common Pension Fund D raised its position in Boise Cascade, L.L.C. (NYSE:BCC) by 29.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,645 shares of the construction company’s stock after purchasing an additional 7,523 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Boise Cascade were worth $2,403,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of BCC. Wellington Management Group LLP raised its holdings in shares of Boise Cascade by 19.8% in the 3rd 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 period. Two Sigma Investments LP boosted its position in Boise Cascade by 377.6% during 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. Bank of America Corp DE increased its holdings in Boise Cascade by 76.5% in the 2nd quarter. Bank of America Corp DE now owns 417,642 shares of the construction company’s stock valued at $36,260,000 after purchasing an additional 181,025 shares in the last quarter. Barclays PLC increased its holdings in Boise Cascade by 128.8% in the 3rd quarter. Barclays PLC now owns 298,197 shares of the construction company’s stock valued at $23,057,000 after purchasing an additional 167,880 shares in the last quarter. Finally, Concentric Capital Strategies LP purchased a new position in Boise Cascade in the third quarter valued at about $10,885,000. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Truist Financial set a $97.00 target price on Boise Cascade in a research report on Wednesday. BMO Capital Markets reaffirmed an “outperform” rating on shares of Boise Cascade in a research report on Thursday, January 8th. Weiss Ratings lowered shares of Boise Cascade from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. DA Davidson decreased their target price on shares of Boise Cascade from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Wall Street Zen raised shares of Boise Cascade from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $98.00.

Boise Cascade Trading Down 1.9%

Shares of BCC opened at $72.83 on Friday. Boise Cascade, L.L.C. has a one year low of $65.14 and a one year high of $95.55. The stock has a 50-day moving average price of $76.95 and a 200 day moving average price of $77.18. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.74 and a current ratio of 2.77. The company has a market capitalization of $2.56 billion, a P/E ratio of 24.60, a P/E/G ratio of 1.10 and a beta of 1.15.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Monday, May 4th. The construction company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.07. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $1.06 EPS. Sell-side analysts forecast that Boise Cascade, L.L.C. will post 3.71 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Monday, June 1st will be issued a $0.22 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.88 annualized dividend and a yield of 1.2%. Boise Cascade’s dividend payout ratio is currently 29.73%.

About Boise Cascade

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.