Maryland State Retirement & Pension System Reduces Holdings in Boise Cascade (NYSE:BCC)

Maryland State Retirement & Pension System reduced its stake in Boise Cascade (NYSE:BCC) by 0.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,266 shares of the construction company’s stock after selling 123 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Boise Cascade were worth $2,188,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. First Trust Direct Indexing L.P. purchased a new stake in Boise Cascade in the 1st quarter valued at $204,000. United Capital Management of KS Inc. grew its holdings in Boise Cascade by 3.8% in the 1st quarter. United Capital Management of KS Inc. now owns 27,798 shares of the construction company’s stock valued at $4,263,000 after buying an additional 1,014 shares in the last quarter. Monument Capital Management purchased a new stake in Boise Cascade in the 1st quarter valued at $234,000. Measured Wealth Private Client Group LLC grew its holdings in Boise Cascade by 1.8% in the 1st quarter. Measured Wealth Private Client Group LLC now owns 5,273 shares of the construction company’s stock valued at $809,000 after buying an additional 95 shares in the last quarter. Finally, DGS Capital Management LLC purchased a new position in shares of Boise Cascade during the 1st quarter worth $227,000. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on BCC. StockNews.com upgraded Boise Cascade from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. Truist Financial increased their price target on Boise Cascade from $156.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $131.75.

Boise Cascade Stock Down 1.3 %

BCC stock traded down $1.55 during mid-day trading on Friday, reaching $115.92. The company had a trading volume of 22,427 shares, compared to its average volume of 309,294. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.05 and a current ratio of 3.24. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of 9.55 and a beta of 1.50. The firm has a fifty day simple moving average of $130.74 and a 200 day simple moving average of $134.36. Boise Cascade has a fifty-two week low of $87.32 and a fifty-two week high of $154.67.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings results on Monday, May 6th. The construction company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.31. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.56 billion. Boise Cascade had a return on equity of 22.00% and a net margin of 7.08%. Boise Cascade’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.43 EPS. Analysts forecast that Boise Cascade will post 10.84 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Monday, June 3rd. Boise Cascade’s dividend payout ratio is currently 6.50%.

Insider Buying and Selling at Boise Cascade

In other news, SVP Jill Twedt sold 1,852 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $135.00, for a total value of $250,020.00. Following the transaction, the senior vice president now owns 37,437 shares in the company, valued at approximately $5,053,995. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Jeffrey Robert Strom sold 2,500 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $135.00, for a total value of $337,500.00. Following the transaction, the executive vice president now owns 43,353 shares in the company, valued at approximately $5,852,655. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jill Twedt sold 1,852 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $135.00, for a total value of $250,020.00. Following the completion of the transaction, the senior vice president now owns 37,437 shares in the company, valued at approximately $5,053,995. The disclosure for this sale can be found here. 1.05% of the stock is owned by corporate insiders.

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.