Maryland State Retirement & Pension System Trims Stake in Boise Cascade (NYSE:BCC)

Maryland State Retirement & Pension System lowered its stake in shares of Boise Cascade (NYSE:BCC) by 1.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 12,933 shares of the construction company’s stock after selling 210 shares during the period. Maryland State Retirement & Pension System’s holdings in Boise Cascade were worth $1,537,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tidal Investments LLC increased its position in shares of Boise Cascade by 341.9% during the third 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. increased its position in shares of Boise Cascade by 2.1% during the third 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 position in shares of Boise Cascade during the fourth quarter valued at about $1,092,000. D.A. Davidson & CO. increased its position in shares of Boise Cascade by 4.2% during the fourth quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company’s stock valued at $388,000 after buying an additional 133 shares during the period. Finally, Nordea Investment Management AB increased its position in shares of Boise Cascade by 5.0% during the fourth 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. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Insider Activity at Boise Cascade

In other Boise Cascade news, COO Jeffrey Robert Strom sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total transaction of $450,945.00. Following the completion of the sale, the chief operating officer now directly owns 38,026 shares of the company’s stock, valued at approximately $3,810,585.46. This represents a 10.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kristopher J. Matula sold 553 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total transaction of $57,047.48. Following the sale, the director now directly owns 13,099 shares of the company’s stock, valued at approximately $1,351,292.84. This represents a 4.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BCC shares. BMO Capital Markets dropped their price objective on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 25th. Benchmark reissued a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. The Goldman Sachs Group dropped their price objective on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Loop Capital dropped their price objective on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Finally, DA Davidson dropped their price objective on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Boise Cascade has a consensus rating of “Hold” and a consensus target price of $128.50.

Boise Cascade Trading Down 1.0 %

Shares of NYSE BCC opened at $99.46 on Friday. The firm’s 50 day moving average price is $114.75 and its 200-day moving average price is $128.13. The company has a market cap of $3.77 billion, a PE ratio of 10.40 and a beta of 1.67. Boise Cascade has a 52-week low of $95.33 and a 52-week high of $155.42. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. On average, equities research analysts expect that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, February 24th were given a dividend of $0.21 per share. The ex-dividend date was Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.84%. Boise Cascade’s dividend payout ratio (DPR) is 8.79%.

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.