California Public Employees Retirement System Increases Stock Holdings in Boise Cascade (NYSE:BCC)

California Public Employees Retirement System boosted its holdings in shares of Boise Cascade (NYSE:BCC) by 31.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,480 shares of the construction company’s stock after buying an additional 13,637 shares during the period. California Public Employees Retirement System owned approximately 0.14% of Boise Cascade worth $7,306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Boise Cascade by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,673,313 shares of the construction company’s stock valued at $481,538,000 after purchasing an additional 43,896 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Boise Cascade by 13.8% in the third quarter. Acadian Asset Management LLC now owns 1,473,620 shares of the construction company’s stock worth $151,820,000 after buying an additional 178,439 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Boise Cascade by 45.0% in the third quarter. Wellington Management Group LLP now owns 1,349,170 shares of the construction company’s stock worth $139,018,000 after buying an additional 418,891 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Boise Cascade by 59.7% during the fourth quarter. Pacer Advisors Inc. now owns 1,096,986 shares of the construction company’s stock worth $141,906,000 after buying an additional 409,906 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of Boise Cascade by 14.2% during the third quarter. American Century Companies Inc. now owns 701,301 shares of the construction company’s stock valued at $72,262,000 after buying an additional 87,411 shares during the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 transaction, the executive vice president now owns 40,237 shares in the company, valued at approximately $5,596,564.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.98% of the company’s stock.

Boise Cascade Stock Performance

Shares of BCC stock opened at $136.11 on Friday. The stock has a market cap of $5.38 billion, a PE ratio of 11.23 and a beta of 1.64. Boise Cascade has a 52-week low of $66.82 and a 52-week high of $154.67. The business has a 50-day simple moving average of $140.20 and a 200-day simple moving average of $126.97. 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 announced its quarterly earnings results on Wednesday, February 21st. The construction company reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($0.01). The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.64 billion. Boise Cascade had a net margin of 7.07% and a return on equity of 21.94%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.95 earnings per share. On average, equities analysts expect that Boise Cascade will post 11.44 EPS for the current year.

Boise Cascade Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a $0.20 dividend. The ex-dividend date is Monday, June 3rd. This represents a $0.80 dividend on an annualized basis and a yield of 0.59%. Boise Cascade’s payout ratio is 6.60%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group raised their target price on Boise Cascade from $114.00 to $129.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Finally, Truist Financial upped their target price on Boise Cascade from $156.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $125.00.

Boise Cascade Company 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.