Teacher Retirement System of Texas Raises Position in Boise Cascade (NYSE:BCC)

Teacher Retirement System of Texas increased its holdings in Boise Cascade (NYSE:BCC) by 180.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,208 shares of the construction company’s stock after purchasing an additional 21,385 shares during the period. Teacher Retirement System of Texas owned 0.09% of Boise Cascade worth $3,947,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in BCC. Larson Financial Group LLC boosted its stake in Boise Cascade by 23.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock worth $53,000 after buying an additional 73 shares during the last quarter. Invst LLC lifted its holdings in shares of Boise Cascade by 2.6% during the 3rd quarter. Invst LLC now owns 5,060 shares of the construction company’s stock worth $713,000 after acquiring an additional 128 shares during the period. D.A. Davidson & CO. boosted its position in shares of Boise Cascade by 4.2% in the fourth quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company’s stock worth $388,000 after acquiring an additional 133 shares during the last quarter. Principal Securities Inc. grew its holdings in Boise Cascade by 44.2% in the fourth 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. Finally, Orion Portfolio Solutions LLC increased its position in Boise Cascade by 8.9% during the third quarter. Orion Portfolio Solutions LLC now owns 2,023 shares of the construction company’s stock worth $285,000 after purchasing an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Stock Performance

Shares of NYSE:BCC opened at $103.35 on Tuesday. The business’s 50-day simple moving average is $114.41 and its 200 day simple moving average is $128.02. The company has a market cap of $3.92 billion, a P/E ratio of 10.81 and a beta of 1.67. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34. Boise Cascade has a one year low of $95.33 and a one year high of $155.42.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. On average, sell-side analysts forecast that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th were given a $0.21 dividend. 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 0.81%. Boise Cascade’s payout ratio is currently 8.79%.

Insider Activity

In related news, COO Jeffrey Robert Strom sold 4,500 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total value of $450,945.00. Following the sale, the chief operating officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kristopher J. Matula sold 553 shares of the stock in a transaction 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 transaction, the director now owns 13,099 shares in the company, valued at $1,351,292.84. This trade represents a 4.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.98% of the company’s stock.

Analyst Ratings Changes

BCC has been the subject of several research reports. BMO Capital Markets lowered their price objective 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. Truist Financial lowered their price target on Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a research report on Monday, February 24th. DA Davidson cut their price objective on Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Loop Capital decreased their target price on Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a report on Monday, February 24th. Finally, The Goldman Sachs Group dropped their target price on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $128.50.

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.