Maryland State Retirement & Pension System Sells 193 Shares of Boise Cascade (NYSE:BCC)

Maryland State Retirement & Pension System trimmed its position in Boise Cascade (NYSE:BCC) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,389 shares of the construction company’s stock after selling 193 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Boise Cascade were worth $1,861,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Boise Cascade by 0.9% during the third quarter. Vanguard Group Inc. now owns 4,673,313 shares of the construction company’s stock worth $481,538,000 after acquiring an additional 43,896 shares in the last quarter. Acadian Asset Management LLC raised its position in Boise Cascade by 13.8% in the 3rd quarter. Acadian Asset Management LLC now owns 1,473,620 shares of the construction company’s stock valued at $151,820,000 after buying an additional 178,439 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Boise Cascade by 45.0% in the third quarter. Wellington Management Group LLP now owns 1,349,170 shares of the construction company’s stock valued at $139,018,000 after acquiring an additional 418,891 shares in the last quarter. Pacer Advisors Inc. raised its position in Boise Cascade by 59.7% in the fourth quarter. Pacer Advisors Inc. now owns 1,096,986 shares of the construction company’s stock worth $141,906,000 after acquiring an additional 409,906 shares during the period. Finally, American Century Companies Inc. increased its holdings in Boise Cascade by 14.2% in the 3rd quarter. American Century Companies Inc. now owns 701,301 shares of the construction company’s stock worth $72,262,000 after acquiring an additional 87,411 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Dean Michael Brown sold 11,117 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $139.09, for a total value of $1,546,263.53. Following the completion of the sale, the executive vice president now owns 40,237 shares of the company’s stock, valued at $5,596,564.33. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.05% of the stock is currently owned by company insiders.

Boise Cascade Trading Up 2.4 %

BCC stock traded up $3.09 during mid-day trading on Wednesday, reaching $133.76. The company had a trading volume of 48,317 shares, compared to its average volume of 298,584. Boise Cascade has a 12 month low of $71.50 and a 12 month high of $154.67. The company has a market capitalization of $5.29 billion, a PE ratio of 10.78 and a beta of 1.64. The firm has a 50 day moving average of $140.32 and a 200 day moving average of $128.04. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.46 and a quick ratio of 2.26.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Monday, May 6th. The construction company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.30 by $0.31. Boise Cascade had a return on equity of 21.94% and a net margin of 7.07%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period in the previous year, the company posted $2.43 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities analysts predict that Boise Cascade will post 11.44 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.60%. Boise Cascade’s payout ratio is 6.60%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. StockNews.com upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating in a research report on Tuesday. Truist Financial raised their target price on Boise Cascade from $156.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Finally, The Goldman Sachs Group upped their price target on Boise Cascade from $114.00 to $129.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $125.00.

About Boise Cascade

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.