Boise Cascade (NYSE:BCC) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lowered its position in shares of Boise Cascade (NYSE:BCC) by 1.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 18,600 shares of the construction company’s stock after selling 200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Boise Cascade were worth $2,211,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of BCC. Bank of Montreal Can lifted its holdings in shares of Boise Cascade by 1,597.4% in the 3rd quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock valued at $17,907,000 after buying an additional 119,103 shares during the period. FMR LLC lifted its holdings in shares of Boise Cascade by 158.9% in the 3rd quarter. FMR LLC now owns 126,123 shares of the construction company’s stock valued at $17,781,000 after buying an additional 77,401 shares during the period. Barclays PLC lifted its holdings in shares of Boise Cascade by 174.1% in the 3rd quarter. Barclays PLC now owns 90,366 shares of the construction company’s stock valued at $12,739,000 after buying an additional 57,403 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Boise Cascade in the 3rd quarter valued at about $7,653,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of 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. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Price Performance

NYSE:BCC opened at $121.93 on Friday. Boise Cascade has a 12 month low of $113.38 and a 12 month high of $155.42. The stock has a 50 day moving average of $125.58 and a two-hundred day moving average of $132.85. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The firm has a market cap of $4.68 billion, a P/E ratio of 11.93 and a beta of 1.57.

Boise Cascade Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 0.69%. Boise Cascade’s dividend payout ratio (DPR) is currently 8.22%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Loop Capital started coverage on Boise Cascade in a report on Friday, November 1st. They issued a “buy” rating and a $155.00 price objective for the company. BMO Capital Markets upped their price target on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group reduced their price target on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Truist Financial reduced their price target on Boise Cascade from $161.00 to $157.00 and set a “buy” rating for the company in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Boise Cascade currently has an average rating of “Hold” and an average price target of $139.60.

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.