Boise Cascade (NYSE:BCC) shares purchased by the Teacher Retirement System of Texas


Teacher Retirement System of Texas increased its position in shares of Boise Cascade (NYSE: BCCGet a rating) by 7.8% in Q1, according to the company in its latest 13F filing with the Securities and Exchange Commission. The fund held 8,137 shares of the construction company after acquiring an additional 592 shares during the quarter. The Teacher Retirement System of Texas holdings in Boise Cascade were worth $565,000 when it was last filed with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently changed their holdings in the company. Qube Research & Technologies Ltd increased its position in Boise Cascade shares by 138.2% during the 1st quarter. Qube Research & Technologies Ltd now owns 18,291 shares of the construction company valued at $1,271,000 after acquiring 10,613 additional shares in the last quarter. Great Lakes Advisors LLC increased its position in Boise Cascade shares by 21.3% during the first quarter. Great Lakes Advisors LLC now owns 10,844 shares of the construction company valued at $753,000 after acquiring 1,907 additional shares in the last quarter. Los Angeles Capital Management LLC increased its position in Boise Cascade shares by 387.2% during the 1st quarter. Los Angeles Capital Management LLC now owns 23,803 shares of the construction company valued at $1,654,000 after acquiring 18,917 additional shares in the last quarter. Beacon Harbor Wealth Advisors Inc. acquired a new position in Boise Cascade in the first quarter valued at approximately $3,891,000. Finally, New York State Common Retirement Fund increased its position in Boise Cascade by 3.0% in the first quarter. The New York State Common Retirement Fund now owns 65,272 shares of the construction company valued at $4,534,000 after buying 1,913 additional shares in the last quarter. Institutional investors and hedge funds own 91.42% of the company’s shares.

A Wall Street analyst gives his opinion

A number of research analysts have commented on BCC’s actions. StockNews.com cut shares of Boise Cascade from a “strong buy” rating to a “buy” rating in a Wednesday, May 4, research report. Truist Financial began covering Boise Cascade shares in a research report on Wednesday, June 29. They issued a “holding” rating and a target price of $64.00 on the stock. The benchmark index moved shares of Boise Cascade from a “buy” rating to a “hold” rating in a Tuesday, May 10 research report. Bank of America cut shares of Boise Cascade from a “buy” rating to a “neutral” rating and set a target price of $71.00 for the stock. in a research report on Thursday, June 23. Finally, DA Davidson raised his price target on Boise Cascade shares to $85.00 in a Tuesday, August 9 research note. Four research analysts gave the stock a hold rating and two gave the stock a buy rating. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $72.50.

Insider buying and selling

In related news, CFO Kelly E. Hibbs sold 3,180 shares of the company in a transaction that took place on Friday, August 5. The shares were sold at an average price of $68.96, for a total transaction of $219,292.80. Following the sale, the CFO now directly owns 40,736 shares of the company, valued at $2,809,154.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Insiders own 0.89% of the shares of the company.

Boise Cascade stock down 2.0%

Shares of NYSE: BCC opened at $70.03 on Tuesday. The company has a debt ratio of 0.27, a current ratio of 3.18 and a quick ratio of 2.14. The company has a market capitalization of $2.76 billion, a PE ratio of 3.56, a growth price-earnings ratio of 1.55 and a beta of 1.60. The company’s 50-day moving average is $65.31 and its two-hundred-day moving average is $72.92. Boise Cascade has a 1-year low of $51.30 and a 1-year high of $85.17.

Wooded Waterfall (NYSE: BCCGet a rating) last released its quarterly results on Monday, August 1. The construction company reported earnings per share (EPS) of $5.49 for the quarter, beating analysts’ consensus estimate of $4.64 by $0.85. Boise Cascade had a net margin of 9.45% and a return on equity of 51.48%. The company posted revenue of $2.28 billion for the quarter, versus analyst estimates of $2.16 billion. In the same period a year earlier, the company earned earnings per share of $7.62. The company’s revenue for the quarter was down 6.8% from the same quarter last year. Analysts expect Boise Cascade to post EPS of 20.06 for the current year.

Boise Cascade Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15. Investors of record on Thursday, September 1 will receive a dividend of $0.12 per share. The ex-dividend date is Wednesday, August 31. This represents a dividend of $0.48 on an annualized basis and a dividend yield of 0.69%. Boise Cascade’s payout ratio is 2.44%.

Boise Cascade Company Profile

(Get a rating)

Boise Cascade Company manufactures wood products and distributes 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 wood and lamellar beams used in lintels 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 wood products.

See also

Want to see which other hedge funds hold BCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boise Cascade (NYSE: BCCGet a rating).

Institutional ownership by quarter for Boise Cascade (NYSE: BCC)



Get news and reviews for Boise Cascade Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Boise Cascade and related companies with MarketBeat.com’s FREE daily email newsletter.

Comments are closed.