Boise Cascade (NYSE:BCC) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its position in shares of Boise Cascade (NYSE:BCC) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,786 shares of the construction company’s stock after selling 785 shares during the period. Illinois Municipal Retirement Fund owned about 0.06% of Boise Cascade worth $2,948,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. California Public Employees Retirement System lifted its holdings in Boise Cascade by 31.8% during the 4th quarter. California Public Employees Retirement System now owns 56,480 shares of the construction company’s stock worth $7,306,000 after buying an additional 13,637 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in Boise Cascade by 1,572.6% in the fourth quarter. Wedge Capital Management L L P NC now owns 110,445 shares of the construction company’s stock valued at $14,287,000 after purchasing an additional 103,842 shares in the last quarter. Handelsbanken Fonder AB increased its stake in Boise Cascade by 193.1% in the fourth quarter. Handelsbanken Fonder AB now owns 8,500 shares of the construction company’s stock valued at $1,100,000 after purchasing an additional 5,600 shares during the last quarter. Federated Hermes Inc. increased its stake in Boise Cascade by 2.1% in the fourth quarter. Federated Hermes Inc. now owns 170,183 shares of the construction company’s stock valued at $22,015,000 after purchasing an additional 3,498 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Boise Cascade by 2.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,429 shares of the construction company’s stock worth $1,220,000 after buying an additional 188 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Stock Down 1.4 %

BCC opened at $137.22 on Thursday. The business has a 50 day moving average price of $140.03 and a two-hundred day moving average price of $125.18. Boise Cascade has a 52 week low of $64.39 and a 52 week high of $154.67. The company has a market cap of $5.43 billion, a PE ratio of 11.32 and a beta of 1.60. The company has a quick ratio of 2.26, a current ratio of 3.46 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Wednesday, February 21st. The construction company reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($0.01). Boise Cascade had a net margin of 7.07% and a return on equity of 21.94%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter last year, the business earned $2.95 earnings per share. The business’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, research analysts anticipate that Boise Cascade will post 11.5 EPS for the current year.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 23rd were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.58%. Boise Cascade’s payout ratio is currently 6.60%.

Insider Activity at Boise Cascade

In other news, EVP Dean Michael Brown sold 11,117 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $139.09, for a total transaction of $1,546,263.53. Following the completion of the transaction, the executive vice president now directly owns 40,237 shares of the company’s stock, valued at approximately $5,596,564.33. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.98% of the stock is owned by insiders.

Analysts Set New Price Targets

BCC has been the subject of a number of research reports. The Goldman Sachs Group boosted their price target on shares of Boise Cascade from $114.00 to $129.00 and gave the company a “neutral” rating in a research report on Thursday, January 11th. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Finally, Truist Financial boosted their price objective on Boise Cascade from $156.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.