State of Alaska Department of Revenue Sells 963 Shares of Boise Cascade (NYSE:BCC)

State of Alaska Department of Revenue trimmed its position in Boise Cascade (NYSE:BCC) by 4.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,216 shares of the construction company’s stock after selling 963 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Boise Cascade worth $3,132,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BCC. Westwood Holdings Group Inc. grew its stake in shares of Boise Cascade by 107.7% during the second quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company’s stock worth $133,278,000 after buying an additional 579,759 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Boise Cascade by 2,978.4% during the second quarter. Marshall Wace LLP now owns 191,047 shares of the construction company’s stock worth $22,777,000 after buying an additional 184,841 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Boise Cascade by 293.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 236,980 shares of the construction company’s stock worth $36,346,000 after buying an additional 176,738 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Boise Cascade by 46.0% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company’s stock worth $45,661,000 after buying an additional 120,600 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Boise Cascade by 76.4% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 88,132 shares of the construction company’s stock worth $13,517,000 after buying an additional 38,173 shares during the last quarter. Institutional investors own 96.18% of the company’s stock.

Boise Cascade Stock Performance

Shares of BCC opened at $134.36 on Thursday. The company has a current ratio of 3.28, a quick ratio of 2.08 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $5.30 billion, a P/E ratio of 10.92 and a beta of 1.52. The firm’s fifty day simple moving average is $136.07 and its two-hundred day simple moving average is $132.65. Boise Cascade has a 12 month low of $87.32 and a 12 month high of $154.67.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Monday, August 5th. The construction company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.16. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.67 earnings per share. As a group, analysts predict that Boise Cascade will post 9.71 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. StockNews.com raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Bank of America increased their price objective on Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a report on Thursday, September 12th. The Goldman Sachs Group decreased their price objective on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Truist Financial increased their price objective on Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, BMO Capital Markets increased their price objective on Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. One investment 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’s stock. According to data from MarketBeat.com, Boise Cascade currently has a consensus rating of “Hold” and an average target price of $135.75.

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.