Teachers Retirement System of The State of Kentucky decreased its holdings in shares of Boise Cascade (NYSE:BCC – Get Rating) by 16.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 26,161 shares of the construction company’s stock after selling 5,143 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Boise Cascade were worth $1,818,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. boosted its stake in shares of Boise Cascade by 758.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 369 shares of the construction company’s stock worth $26,000 after acquiring an additional 326 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Boise Cascade during the 4th quarter worth approximately $34,000. Eaton Vance Management boosted its stake in shares of Boise Cascade by 24.1% during the 4th quarter. Eaton Vance Management now owns 3,343 shares of the construction company’s stock worth $35,000 after acquiring an additional 649 shares in the last quarter. Mystic Asset Management Inc. purchased a new stake in shares of Boise Cascade during the 4th quarter worth approximately $40,000. Finally, Koshinski Asset Management Inc. boosted its stake in shares of Boise Cascade by 645.0% during the 1st quarter. Koshinski Asset Management Inc. now owns 745 shares of the construction company’s stock worth $52,000 after acquiring an additional 645 shares in the last quarter. Institutional investors and hedge funds own 93.66% of the company’s stock.
Boise Cascade Trading Up 0.3 %
Boise Cascade stock opened at $59.49 on Thursday. The stock has a market cap of $2.35 billion, a PE ratio of 3.02, a P/E/G ratio of 1.33 and a beta of 1.62. The stock has a 50-day moving average price of $65.79 and a 200 day moving average price of $70.48. Boise Cascade has a 52 week low of $52.76 and a 52 week high of $85.17. The company has a current ratio of 3.18, a quick ratio of 2.14 and a debt-to-equity ratio of 0.27.
Boise Cascade Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend was Wednesday, August 31st. Boise Cascade’s dividend payout ratio (DPR) is 2.44%.
Analyst Ratings Changes
Several brokerages have recently commented on BCC. The Goldman Sachs Group boosted their price target on Boise Cascade from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 3rd. DA Davidson increased their target price on Boise Cascade to $85.00 in a report on Tuesday, August 9th. Truist Financial started coverage on Boise Cascade in a report on Wednesday, June 29th. They issued a “hold” rating and a $64.00 price target for the company. Finally, Bank of America decreased their price objective on Boise Cascade from $73.00 to $72.00 and set a “neutral” rating on the stock in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Boise Cascade presently has a consensus rating of “Hold” and a consensus price target of $72.75.
Insider Buying and Selling at Boise Cascade
In other Boise Cascade news, CFO Kelly E. Hibbs sold 3,180 shares of Boise Cascade stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $68.96, for a total value of $219,292.80. Following the completion of the sale, the chief financial officer now owns 40,736 shares in the company, valued at approximately $2,809,154.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.89% of the stock is owned by company insiders.
Boise Cascade Profile
Boise Cascade Company manufactures wood products and distributes 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 lumber products.
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