Boise Cascade (NYSE:BCC) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its position in Boise Cascade (NYSE:BCC) by 37.7% during the 2nd quarter, Holdings Channel reports. The fund owned 14,769 shares of the construction company’s stock after selling 8,922 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Boise Cascade were worth $1,761,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Boise Cascade during the 4th quarter worth $60,383,000. Price T Rowe Associates Inc. MD lifted its holdings in Boise Cascade by 293.4% during the 1st 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. Public Employees Retirement Association of Colorado lifted its holdings in Boise Cascade by 358.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 133,961 shares of the construction company’s stock worth $17,329,000 after buying an additional 104,713 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Boise Cascade by 22.1% during the 4th quarter. First Trust Advisors LP now owns 304,436 shares of the construction company’s stock worth $39,382,000 after acquiring an additional 55,077 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Boise Cascade by 76.4% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 88,132 shares of the construction company’s stock valued at $13,517,000 after acquiring an additional 38,173 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Price Performance

Shares of NYSE BCC opened at $141.79 on Wednesday. The stock has a market cap of $5.60 billion, a P/E ratio of 11.53 and a beta of 1.52. Boise Cascade has a twelve month low of $87.32 and a twelve month high of $154.67. The stock has a 50 day moving average of $131.85 and a two-hundred day moving average of $133.65. The company has a current ratio of 3.28, a quick ratio of 2.08 and a debt-to-equity ratio of 0.21.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Monday, August 5th. The construction company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.68 by $0.16. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the firm earned $3.67 EPS. Boise Cascade’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, research analysts forecast that Boise Cascade will post 9.76 earnings per share for the current year.

Boise Cascade Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.21 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.59%. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.20. Boise Cascade’s dividend payout ratio (DPR) is currently 6.83%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group decreased their target price on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Truist Financial reaffirmed a “buy” rating and issued a $154.00 target price (down from $159.00) on shares of Boise Cascade in a research report on Wednesday, August 7th. Finally, Bank of America boosted their price target on shares of Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $128.00.

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.