Public Employees Retirement Association of Colorado Decreases Stock Holdings in Boise Cascade (NYSE:BCC)

Public Employees Retirement Association of Colorado reduced its stake in shares of Boise Cascade (NYSE:BCC - Free Report) by 51.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,652 shares of the construction company's stock after selling 68,799 shares during the quarter. Public Employees Retirement Association of Colorado owned 0.17% of Boise Cascade worth $7,566,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BCC. Barclays PLC increased its position 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 in the last quarter. Invst LLC grew its stake in Boise Cascade by 2.6% during the third quarter. Invst LLC now owns 5,060 shares of the construction company's stock worth $713,000 after buying an additional 128 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of Boise Cascade during the third quarter worth approximately $3,995,000. Tidal Investments LLC raised its stake in shares of Boise Cascade by 341.9% in the third quarter. Tidal Investments LLC now owns 15,808 shares of the construction company's stock valued at $2,229,000 after acquiring an additional 12,231 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Boise Cascade by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 43,958 shares of the construction company's stock worth $6,285,000 after acquiring an additional 335 shares in the last quarter. 96.18% of the stock is owned by institutional investors.

Insider Transactions at Boise Cascade

In other news, Director Kristopher J. Matula sold 553 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total transaction of $57,047.48. Following the completion of the sale, the director now owns 13,099 shares of the company's stock, valued at $1,351,292.84. This trade represents a 4.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Jeffrey Robert Strom sold 4,500 shares of Boise Cascade stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total transaction of $450,945.00. Following the transaction, 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 disclosure for this sale can be found here. 0.98% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on BCC shares. The Goldman Sachs Group cut their price objective on Boise Cascade from $145.00 to $126.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. DA Davidson cut their price target on Boise Cascade from $155.00 to $125.00 and set a "buy" rating for the company in a report on Monday, February 24th. Truist Financial decreased their price objective on shares of Boise Cascade from $134.00 to $118.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. BMO Capital Markets dropped their target price on shares of Boise Cascade from $136.00 to $122.00 and set a "market perform" rating for the company in a research note on Tuesday, February 25th. Finally, Benchmark reiterated a "hold" rating on shares of Boise Cascade in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $125.00.

Boise Cascade Stock Performance

Boise Cascade stock traded down $0.57 during mid-day trading on Thursday, hitting $92.71. 295,073 shares of the company's stock traded hands, compared to its average volume of 327,470. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92. The firm has a 50 day simple moving average of $97.52 and a two-hundred day simple moving average of $119.62. Boise Cascade has a fifty-two week low of $87.84 and a fifty-two week high of $155.42. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 9.70 and a beta of 1.52.

Boise Cascade (NYSE:BCC - Get Free Report) last released its quarterly 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 firm had revenue of $1.57 billion during 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%. On average, research analysts expect that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.91%. Boise Cascade's payout ratio is presently 8.79%.

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.