Louisiana State Employees Retirement System Reduces Stock Position in Boise Cascade (NYSE:BCC)

Louisiana State Employees Retirement System cut its stake in Boise Cascade (NYSE:BCC) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,600 shares of the construction company’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Boise Cascade were worth $2,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new stake in shares of Boise Cascade in the third quarter valued at approximately $28,000. R Squared Ltd acquired a new position in Boise Cascade in the fourth quarter valued at approximately $29,000. Larson Financial Group LLC lifted its holdings in Boise Cascade by 23.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock valued at $53,000 after acquiring an additional 73 shares during the last quarter. CWM LLC lifted its holdings in Boise Cascade by 26.5% in the third quarter. CWM LLC now owns 673 shares of the construction company’s stock valued at $95,000 after acquiring an additional 141 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in Boise Cascade by 50.1% in the third quarter. Covestor Ltd now owns 689 shares of the construction company’s stock valued at $97,000 after acquiring an additional 230 shares during the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. The Goldman Sachs Group decreased their price objective on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Loop Capital started coverage on Boise Cascade in a report on Friday, November 1st. They issued a “buy” rating and a $155.00 price objective on the stock. BMO Capital Markets upped their price target on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Finally, Truist Financial decreased their price target on Boise Cascade from $161.00 to $157.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $139.60.

Boise Cascade Stock Up 1.1 %

NYSE:BCC opened at $121.93 on Friday. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22. The stock’s fifty day moving average is $125.58 and its two-hundred day moving average is $132.85. Boise Cascade has a 52 week low of $113.38 and a 52 week high of $155.42. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 11.93 and a beta of 1.57.

Boise Cascade Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Monday, February 24th. Boise Cascade’s payout ratio is currently 8.22%.

Boise Cascade 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.