Teachers Retirement System of The State of Kentucky Decreases Holdings in Boise Cascade (NYSE:BCC)

Teachers Retirement System of The State of Kentucky cut its stake in shares of Boise Cascade (NYSE:BCC - Free Report) by 14.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,003 shares of the construction company's stock after selling 4,286 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.07% of Boise Cascade worth $3,099,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Scarborough Advisors LLC bought a new stake in shares of Boise Cascade during the 4th quarter valued at $36,000. Larson Financial Group LLC bought a new stake in shares of Boise Cascade during the 2nd quarter valued at $36,000. iA Global Asset Management Inc. bought a new stake in shares of Boise Cascade during the 1st quarter valued at $82,000. Daiwa Securities Group Inc. grew its position in shares of Boise Cascade by 500.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 600 shares of the construction company's stock valued at $92,000 after acquiring an additional 500 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Boise Cascade by 33.4% during the 2nd quarter. GAMMA Investing LLC now owns 787 shares of the construction company's stock valued at $94,000 after acquiring an additional 197 shares during the period. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Bank of America boosted their price objective on shares of Boise Cascade from $120.00 to $124.00 and gave the company an "underperform" rating in a research report on Thursday, September 12th. Truist Financial reaffirmed a "buy" rating and issued a $154.00 target price (down previously from $159.00) on shares of Boise Cascade in a report on Wednesday, August 7th. StockNews.com downgraded shares of Boise Cascade from a "buy" rating to a "hold" rating in a report on Tuesday, August 6th. Finally, The Goldman Sachs Group dropped their target price on shares of Boise Cascade from $140.00 to $122.00 and set a "neutral" rating for the company in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $128.00.

Boise Cascade Price Performance

Boise Cascade stock traded up $0.71 during mid-day trading on Friday, hitting $139.00. The stock had a trading volume of 160,928 shares, compared to its average volume of 317,187. The firm's 50 day moving average is $132.86 and its 200 day moving average is $134.11. Boise Cascade has a one year low of $87.32 and a one year high of $154.67. The firm has a market capitalization of $5.49 billion, a P/E ratio of 11.25 and a beta of 1.52. The company has a current ratio of 3.28, a quick ratio of 2.08 and a debt-to-equity ratio of 0.21.

Boise Cascade (NYSE:BCC - Get Free Report) last released its quarterly earnings data on Monday, August 5th. The construction company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.68 by $0.16. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the firm earned $3.67 EPS. The business's revenue was down 1.0% on a year-over-year basis. On average, sell-side analysts forecast that Boise Cascade will post 9.71 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is an increase from Boise Cascade's previous quarterly dividend of $0.20. Boise Cascade's dividend payout ratio is 6.83%.

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.