State of Alaska Department of Revenue Reduces Position in Boise Cascade (NYSE:BCC)

State of Alaska Department of Revenue cut its position in shares of Boise Cascade (NYSE:BCC) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,839 shares of the construction company’s stock after selling 377 shares during the period. State of Alaska Department of Revenue owned approximately 0.06% of Boise Cascade worth $2,595,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Tidal Investments LLC boosted its position in Boise Cascade by 341.9% in the 3rd quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock valued at $2,229,000 after buying an additional 12,231 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Boise Cascade by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock valued at $61,680,000 after buying an additional 9,128 shares during the period. Fulcrum Capital LLC purchased a new stake in Boise Cascade in the 4th quarter valued at about $1,092,000. Allspring Global Investments Holdings LLC boosted its position in Boise Cascade by 56.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 89,163 shares of the construction company’s stock valued at $12,570,000 after buying an additional 32,303 shares during the period. Finally, Nordea Investment Management AB boosted its position in Boise Cascade by 5.0% in the 4th quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company’s stock valued at $14,454,000 after buying an additional 5,779 shares during the period. 96.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BCC has been the subject of several research reports. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Loop Capital initiated coverage on shares of Boise Cascade in a research report on Friday, November 1st. They issued a “buy” rating and a $155.00 price target for the company. BMO Capital Markets upped their price target on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Truist Financial lowered their price target on shares of Boise Cascade from $161.00 to $157.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, The Goldman Sachs Group lowered their price target 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 investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Boise Cascade currently has an average rating of “Hold” and a consensus price target of $139.60.

Boise Cascade Trading Down 0.1 %

NYSE BCC opened at $123.21 on Tuesday. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22. The firm has a market cap of $4.73 billion, a PE ratio of 12.06 and a beta of 1.57. The company has a 50 day moving average price of $127.56 and a 200 day moving average price of $133.29. Boise Cascade has a 52 week low of $113.38 and a 52 week high of $155.42.

Boise Cascade Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.68%. Boise Cascade’s payout ratio is 8.22%.

Boise Cascade Company 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.