Teacher Retirement System of Texas Grows Position in Boise Cascade (NYSE:BCC)

Teacher Retirement System of Texas grew its stake in shares of Boise Cascade (NYSE:BCC - Free Report) by 180.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 approximately 0.09% of Boise Cascade worth $3,947,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can boosted its holdings in shares of Boise Cascade by 1,597.4% in the third quarter. Bank of Montreal Can now owns 126,559 shares of the construction company's stock valued at $17,907,000 after acquiring an additional 119,103 shares in the last quarter. FMR LLC increased its position in Boise Cascade by 158.9% during the 3rd quarter. FMR LLC now owns 126,123 shares of the construction company's stock worth $17,781,000 after purchasing an additional 77,401 shares in the last quarter. Barclays PLC lifted its stake in shares of Boise Cascade by 174.1% during the 3rd quarter. Barclays PLC now owns 90,366 shares of the construction company's stock worth $12,739,000 after purchasing an additional 57,403 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Boise Cascade during the 3rd quarter valued at about $7,653,000. Finally, World Investment Advisors LLC acquired a new stake in shares of Boise Cascade during the 3rd quarter worth $3,995,000. 96.18% of the stock is currently owned by institutional investors and hedge funds.

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Boise Cascade Trading Down 1.8 %

Shares of Boise Cascade stock traded down $1.89 on Tuesday, hitting $101.39. The stock had a trading volume of 385,361 shares, compared to its average volume of 306,953. Boise Cascade has a twelve month low of $95.33 and a twelve month high of $155.42. 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 firm has a market capitalization of $3.85 billion, a P/E ratio of 10.61 and a beta of 1.67. The stock has a 50 day moving average of $113.97 and a 200 day moving average of $127.86.

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

Boise Cascade Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.83%. Boise Cascade's payout ratio is 8.79%.

Wall Street Analyst Weigh In

BCC has been the topic of several recent analyst reports. 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 note on Tuesday, February 25th. Truist Financial reduced their price target on shares of Boise Cascade from $157.00 to $134.00 and set a "buy" rating for the company in a research note on Monday, February 24th. Loop Capital decreased their price objective on shares of Boise Cascade from $145.00 to $140.00 and set a "buy" rating for the company in a research note on Monday, February 24th. DA Davidson cut their target price on shares of Boise Cascade from $155.00 to $125.00 and set a "buy" rating for the company in a research report on Monday, February 24th. Finally, The Goldman Sachs Group decreased their target price on shares of Boise Cascade from $145.00 to $126.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Boise Cascade presently has a consensus rating of "Hold" and a consensus price target of $128.50.

Insider Activity at Boise Cascade

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

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.