State of Alaska Department of Revenue Reduces Stock Holdings in Boise Cascade (NYSE:BCC)

State of Alaska Department of Revenue reduced its holdings in Boise Cascade (NYSE:BCC) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,839 shares of the construction company’s stock after selling 377 shares during the period. State of Alaska Department of Revenue’s holdings in Boise Cascade were worth $2,595,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Jennison Associates LLC boosted its holdings in Boise Cascade by 83.4% during the fourth quarter. Jennison Associates LLC now owns 11,219 shares of the construction company’s stock worth $1,333,000 after buying an additional 5,102 shares in the last quarter. SkyOak Wealth LLC purchased a new stake in Boise Cascade during the fourth quarter worth $243,000. R Squared Ltd purchased a new stake in Boise Cascade during the fourth quarter worth $29,000. KBC Group NV boosted its holdings in Boise Cascade by 41.3% during the fourth quarter. KBC Group NV now owns 1,732 shares of the construction company’s stock worth $206,000 after buying an additional 506 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in Boise Cascade by 49.2% during the fourth quarter. Blue Trust Inc. now owns 2,056 shares of the construction company’s stock worth $244,000 after buying an additional 678 shares in the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on BCC shares. BMO Capital Markets increased their price target on shares of 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 lowered their price target on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Truist Financial decreased their price objective on shares of Boise Cascade from $161.00 to $157.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Loop Capital initiated coverage on shares of Boise Cascade in a report on Friday, November 1st. They set a “buy” rating and a $155.00 price objective on the stock. Finally, StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $139.60.

Boise Cascade Price Performance

Shares of NYSE BCC opened at $123.21 on Tuesday. The firm has a 50-day simple moving average of $127.56 and a 200-day simple moving average of $133.29. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of 12.06 and a beta of 1.57. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22. Boise Cascade has a 52 week low of $113.38 and a 52 week high of $155.42.

Boise Cascade Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, February 24th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.68%. The ex-dividend date is Monday, February 24th. Boise Cascade’s payout ratio is currently 8.22%.

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.