Boise Cascade (NYSE:BCC) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its position in shares of Boise Cascade (NYSE:BCC - Free Report) by 180.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,208 shares of the construction company's stock after purchasing an additional 21,385 shares during the quarter. Teacher Retirement System of Texas owned 0.09% of Boise Cascade worth $3,947,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. R Squared Ltd acquired a new stake in shares of Boise Cascade during the fourth quarter worth about $29,000. Larson Financial Group LLC lifted its stake in Boise Cascade by 23.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the construction company's stock valued at $53,000 after acquiring an additional 73 shares during the period. Principal Securities Inc. boosted its holdings in shares of Boise Cascade by 44.2% in the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company's stock valued at $56,000 after acquiring an additional 145 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Boise Cascade by 254.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company's stock worth $92,000 after acquiring an additional 558 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Boise Cascade by 234.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,270 shares of the construction company's stock worth $179,000 after purchasing an additional 890 shares during the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

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Insider Transactions at Boise Cascade

In related news, Director Kristopher J. Matula sold 553 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total value of $57,047.48. Following the completion of the sale, the director now directly owns 13,099 shares of the company's stock, valued at $1,351,292.84. The trade was a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey Robert Strom sold 4,500 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total value of $450,945.00. Following the transaction, the chief operating officer now owns 38,026 shares in the company, valued at $3,810,585.46. This represents a 10.58 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BCC. BMO Capital Markets cut their price target on Boise Cascade from $136.00 to $122.00 and set a "market perform" rating on the stock in a research report on Tuesday, February 25th. Truist Financial dropped their target price on Boise Cascade from $157.00 to $134.00 and set a "buy" rating on the stock in a report on Monday, February 24th. DA Davidson decreased their price target on Boise Cascade from $155.00 to $125.00 and set a "buy" rating for the company in a report on Monday, February 24th. Loop Capital lowered their target price on shares of Boise Cascade from $145.00 to $140.00 and set a "buy" rating on the stock in a research note on Monday, February 24th. Finally, Benchmark restated a "hold" rating on shares of Boise Cascade in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $128.50.

Boise Cascade Price Performance

Shares of BCC stock traded down $2.08 during trading hours on Friday, reaching $98.28. The company had a trading volume of 378,873 shares, compared to its average volume of 325,492. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34. The stock has a fifty day moving average of $112.29 and a 200-day moving average of $127.32. Boise Cascade has a 12-month low of $95.33 and a 12-month high of $155.42. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 10.28 and a beta of 1.67.

Boise Cascade (NYSE:BCC - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.01). The firm had revenue of $1.57 billion for the quarter, compared to analysts' expectations of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. On average, equities analysts anticipate that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th were given a dividend of $0.21 per share. The ex-dividend date was Monday, February 24th. This represents a $0.84 annualized dividend and a dividend yield of 0.85%. Boise Cascade's dividend payout ratio is presently 8.79%.

Boise Cascade 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.