Teachers Retirement System of The State of Kentucky Cuts Stock Holdings in Boise Cascade (NYSE:BCC)

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of Boise Cascade (NYSE:BCC - Free Report) by 11.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,137 shares of the construction company's stock after selling 2,866 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.06% of Boise Cascade worth $2,750,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. R Squared Ltd purchased a new stake in Boise Cascade in the fourth quarter worth about $29,000. Principal Securities Inc. lifted its stake in shares of Boise Cascade by 44.2% in the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company's stock valued at $56,000 after purchasing an additional 145 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Boise Cascade by 254.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company's stock valued at $92,000 after purchasing an additional 558 shares in the last quarter. PEAK6 LLC purchased a new stake in Boise Cascade in the fourth quarter worth $201,000. Finally, KBC Group NV raised its holdings in Boise Cascade by 41.3% in the fourth quarter. KBC Group NV now owns 1,732 shares of the construction company's stock worth $206,000 after purchasing an additional 506 shares in the last quarter. Institutional investors own 96.18% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. BMO Capital Markets dropped their target price on shares of Boise Cascade from $136.00 to $122.00 and set a "market perform" rating on the stock in a report on Tuesday, February 25th. Truist Financial cut 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. Benchmark reiterated a "hold" rating on shares of Boise Cascade in a report on Tuesday, February 25th. DA Davidson dropped their price target on shares of Boise Cascade from $155.00 to $125.00 and set a "buy" rating on the stock in a research note on Monday, February 24th. Finally, The Goldman Sachs Group lowered their price objective on Boise Cascade from $145.00 to $126.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 14th. One investment 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $125.00.

Insiders Place Their Bets

In other Boise Cascade news, COO Jeffrey Robert Strom sold 4,500 shares of the 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 completion of the sale, the chief operating officer now directly owns 38,026 shares of the company's stock, valued at approximately $3,810,585.46. This represents a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kristopher J. Matula sold 553 shares of the firm's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total value of $57,047.48. Following the completion of the sale, the director now directly owns 13,099 shares of the company's stock, valued at $1,351,292.84. The trade was a 4.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.98% of the company's stock.

Boise Cascade Price Performance

Shares of BCC stock traded down $2.03 on Wednesday, hitting $92.47. 43,975 shares of the stock traded hands, compared to its average volume of 360,578. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 9.67 and a beta of 1.52. 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 $98.02 and a two-hundred day simple moving average of $120.15. Boise Cascade has a 52 week low of $87.84 and a 52 week high of $155.42.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share for the quarter, missing analysts' consensus estimates 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 return on equity of 17.04% and a net margin of 5.60%. As a group, equities research analysts predict that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, February 24th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.91%. Boise Cascade's payout ratio is 8.79%.

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.