Illinois Municipal Retirement Fund Sells 785 Shares of Boise Cascade (NYSE:BCC)

Illinois Municipal Retirement Fund lessened its holdings in Boise Cascade (NYSE:BCC) by 3.3% in the 4th quarter, Holdings Channel reports. The firm owned 22,786 shares of the construction company’s stock after selling 785 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Boise Cascade were worth $2,948,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Global Retirement Partners LLC increased its holdings in shares of Boise Cascade by 1,147.1% during the 4th quarter. Global Retirement Partners LLC now owns 212 shares of the construction company’s stock valued at $28,000 after acquiring an additional 195 shares during the last quarter. Hexagon Capital Partners LLC lifted its position in Boise Cascade by 76.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 433 shares of the construction company’s stock worth $45,000 after acquiring an additional 187 shares during the last quarter. Blue Trust Inc. grew its position in shares of Boise Cascade by 58.1% in the fourth quarter. Blue Trust Inc. now owns 544 shares of the construction company’s stock valued at $70,000 after purchasing an additional 200 shares during the last quarter. C M Bidwell & Associates Ltd. lifted its position in shares of Boise Cascade by 4,706.9% during the 3rd quarter. C M Bidwell & Associates Ltd. now owns 1,394 shares of the construction company’s stock worth $144,000 after purchasing an additional 1,365 shares during the last quarter. Finally, Sound View Wealth Advisors Group LLC acquired a new stake in Boise Cascade in the 3rd quarter valued at approximately $205,000. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Stock Performance

NYSE BCC opened at $137.22 on Thursday. Boise Cascade has a twelve month low of $64.39 and a twelve month high of $154.67. The company has a quick ratio of 2.26, a current ratio of 3.46 and a debt-to-equity ratio of 0.22. The stock has a market cap of $5.43 billion, a P/E ratio of 11.32 and a beta of 1.60. The company’s 50-day simple moving average is $140.03 and its 200 day simple moving average is $125.18.

Boise Cascade (NYSE:BCC) last issued its earnings results on Wednesday, February 21st. The construction company reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($0.01). The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.64 billion. Boise Cascade had a return on equity of 21.94% and a net margin of 7.07%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.95 earnings per share. As a group, research analysts forecast that Boise Cascade will post 11.5 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 23rd were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.58%. Boise Cascade’s dividend payout ratio (DPR) is presently 6.60%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group increased their price objective on Boise Cascade from $114.00 to $129.00 and gave the company a “neutral” rating in a research report on Thursday, January 11th. Truist Financial lifted their target price on Boise Cascade from $156.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Finally, StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Boise Cascade currently has a consensus rating of “Hold” and a consensus target price of $125.00.

Insider Transactions at Boise Cascade

In other Boise Cascade news, EVP Dean Michael Brown sold 11,117 shares of Boise Cascade stock in a transaction 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 transaction, the executive vice president now owns 40,237 shares in the company, valued at approximately $5,596,564.33. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.98% of the stock is owned by company insiders.

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.