Public Employees Retirement System of Ohio Trims Stock Holdings in Boise Cascade (NYSE:BCC)

Public Employees Retirement System of Ohio cut its holdings in shares of Boise Cascade (NYSE:BCC) by 1.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,362 shares of the construction company’s stock after selling 844 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.13% of Boise Cascade worth $6,959,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in BCC. Larson Financial Group LLC raised its holdings in Boise Cascade by 23.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock valued at $53,000 after acquiring an additional 73 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in Boise Cascade by 4.6% in the third quarter. Sequoia Financial Advisors LLC now owns 1,757 shares of the construction company’s stock valued at $248,000 after buying an additional 78 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in Boise Cascade by 1.5% during the second quarter. SummerHaven Investment Management LLC now owns 7,776 shares of the construction company’s stock valued at $927,000 after buying an additional 113 shares in the last quarter. Miller Howard Investments Inc. NY lifted its holdings in Boise Cascade by 2.1% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 5,892 shares of the construction company’s stock worth $702,000 after buying an additional 124 shares during the last quarter. Finally, First Trust Direct Indexing L.P. grew its position in shares of Boise Cascade by 7.3% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,893 shares of the construction company’s stock worth $267,000 after acquiring an additional 128 shares in the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Loop Capital started coverage on Boise Cascade in a research report on Friday, November 1st. They set a “buy” rating and a $155.00 price target on the stock. Bank of America lifted their target price on Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research note on Thursday, September 12th. Truist Financial increased their price target on Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, BMO Capital Markets raised their target price on Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Boise Cascade has a consensus rating of “Hold” and an average price target of $139.60.

Boise Cascade Stock Down 2.6 %

BCC opened at $136.26 on Friday. The stock’s 50 day moving average price is $141.14 and its 200 day moving average price is $133.87. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.13 and a quick ratio of 1.90. The stock has a market cap of $5.23 billion, a P/E ratio of 13.33 and a beta of 1.53. Boise Cascade has a 12 month low of $113.89 and a 12 month high of $155.42.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.37 by ($0.04). Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the company posted $3.58 EPS. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, research analysts predict that Boise Cascade will post 9.57 earnings per share for the current year.

Boise Cascade Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 annualized dividend and a yield of 0.62%. Boise Cascade’s payout ratio is 8.22%.

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.