Public Sector Pension Investment Board Decreases Stake in Boise Cascade (NYSE:BCC)

Public Sector Pension Investment Board lowered its position in Boise Cascade (NYSE:BCC - Free Report) by 4.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 82,573 shares of the construction company's stock after selling 4,300 shares during the quarter. Public Sector Pension Investment Board owned about 0.22% of Boise Cascade worth $11,641,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Algert Global LLC grew its stake in shares of Boise Cascade by 8.3% in the 2nd quarter. Algert Global LLC now owns 79,277 shares of the construction company's stock valued at $9,451,000 after buying an additional 6,059 shares during the period. Burney Co. acquired a new position in Boise Cascade in the first quarter valued at approximately $673,000. Seven Eight Capital LP grew its position in Boise Cascade by 31.6% in the second quarter. Seven Eight Capital LP now owns 17,896 shares of the construction company's stock worth $2,134,000 after acquiring an additional 4,300 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Boise Cascade by 56.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 89,163 shares of the construction company's stock worth $12,570,000 after acquiring an additional 32,303 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Boise Cascade by 293.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 236,980 shares of the construction company's stock valued at $36,346,000 after purchasing an additional 176,738 shares during the period. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Boise Cascade Stock Up 0.9 %

Shares of BCC traded up $1.26 during mid-day trading on Friday, hitting $147.66. 121,111 shares of the company's stock were exchanged, compared to its average volume of 304,468. The stock's 50-day moving average is $140.24 and its 200-day moving average is $133.40. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13. Boise Cascade has a fifty-two week low of $106.38 and a fifty-two week high of $155.42. The company has a market cap of $5.67 billion, a price-to-earnings ratio of 14.45 and a beta of 1.53.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The construction company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.04). Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The business had revenue of $1.71 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same period in the prior year, the business earned $3.58 EPS. The business's quarterly revenue was down 6.6% on a year-over-year basis. On average, sell-side analysts anticipate that Boise Cascade will post 9.57 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 annualized dividend and a yield of 0.57%. Boise Cascade's payout ratio is 8.22%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Truist Financial increased their price target on Boise Cascade from $154.00 to $161.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. StockNews.com lowered shares of Boise Cascade from a "buy" rating to a "hold" rating in a research note on Wednesday, November 6th. BMO Capital Markets lifted their price target on shares of Boise Cascade from $130.00 to $136.00 and gave the company a "market perform" rating in a research report on Tuesday, October 22nd. Bank of America upped their price objective on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an "underperform" rating in a report on Thursday, September 12th. Finally, Loop Capital assumed coverage on shares of Boise Cascade in a report on Friday, November 1st. They issued a "buy" rating and a $155.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $139.60.

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.