By otakuyassine3@gmail.com 
California Public Employees Retirement System trimmed its position in shares of Boise Cascade (NYSE:BCC – Free Report) by 2.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 64,601 shares of the construction company’s stock after selling 1,943 shares during the quarter. California Public Employees Retirement System’s holdings in Boise Cascade were worth $7,678,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership lifted its position in shares of Boise Cascade by 118.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 41,895 shares of the construction company’s stock valued at $4,980,000 after buying an additional 22,689 shares during the last quarter. Orion Portfolio Solutions LLC raised its stake in Boise Cascade by 27.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 2,582 shares of the construction company’s stock valued at $307,000 after acquiring an additional 559 shares during the period. Pictet Asset Management Holding SA lifted its holdings in Boise Cascade by 43.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 84,423 shares of the construction company’s stock valued at $10,035,000 after purchasing an additional 25,673 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in Boise Cascade during the fourth quarter worth about $500,000. Finally, Norges Bank purchased a new position in shares of Boise Cascade in the fourth quarter worth about $55,680,000. 96.18% of the stock is owned by hedge funds and other institutional investors.
Boise Cascade Stock Performance
NYSE:BCC opened at $91.82 on Tuesday. Boise Cascade has a twelve month low of $89.10 and a twelve month high of $155.42. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22. The stock has a market cap of $3.48 billion, a P/E ratio of 9.60 and a beta of 1.52. The business’s 50-day moving average price is $108.52 and its two-hundred day moving average price is $125.74.
Boise Cascade (NYSE:BCC – Get Free Report) last announced its earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.01). The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. As a group, equities analysts predict that Boise Cascade will post 10.15 EPS for the current fiscal year.
Boise Cascade Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, February 24th were paid a $0.21 dividend. The ex-dividend date was Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.91%. Boise Cascade’s dividend payout ratio is presently 8.79%.
Insider Buying and Selling at Boise Cascade
In other Boise Cascade news, COO Jeffrey Robert Strom sold 4,500 shares of the company’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 completion of the sale, the chief operating officer now owns 38,026 shares of the company’s stock, valued at $3,810,585.46. This represents a 10.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kristopher J. Matula sold 553 shares of Boise Cascade stock in a transaction that occurred 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 transaction, the director now directly owns 13,099 shares in the company, valued at $1,351,292.84. This trade represents a 4.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.98% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on BCC. The Goldman Sachs Group dropped their price target on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. BMO Capital Markets cut their price target on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a report on Tuesday, February 25th. DA Davidson decreased their price objective on Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Benchmark restated a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Finally, Loop Capital decreased their price target on Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $128.50.
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.
Further Reading
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