News

Aug 05, 2023

Teacher Retirement System of Texas Sells 5,835 Shares of Boise Cascade (NYSE:BCC)

Teacher Retirement System of Texas decreased its holdings in shares of Boise

Teacher Retirement System of Texas decreased its holdings in shares of Boise Cascade (NYSE:BCC - Get Rating) by 19.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,544 shares of the construction company's stock after selling 5,835 shares during the period. Teacher Retirement System of Texas owned approximately 0.06% of Boise Cascade worth $1,617,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in BCC. CoreCap Advisors LLC purchased a new position in Boise Cascade during the 4th quarter worth $28,000. Neo Ivy Capital Management bought a new position in shares of Boise Cascade during the second quarter valued at about $25,000. C M Bidwell & Associates Ltd. bought a new position in shares of Boise Cascade during the third quarter valued at about $33,000. Quadrant Capital Group LLC boosted its holdings in Boise Cascade by 94.4% during the fourth quarter. Quadrant Capital Group LLC now owns 589 shares of the construction company's stock worth $40,000 after purchasing an additional 286 shares during the last quarter. Finally, Ronald Blue Trust Inc. grew its position in Boise Cascade by 87.5% in the 4th quarter. Ronald Blue Trust Inc. now owns 853 shares of the construction company's stock worth $51,000 after purchasing an additional 398 shares in the last quarter. Institutional investors and hedge funds own 92.78% of the company's stock.

A number of equities analysts have recently weighed in on the company. BMO Capital Markets boosted their target price on Boise Cascade from $72.00 to $78.00 in a research note on Tuesday, May 16th. DA Davidson boosted their price objective on Boise Cascade from $91.00 to $98.00 in a research report on Tuesday, May 30th. Bank of America decreased their target price on Boise Cascade from $68.00 to $65.00 in a research report on Sunday, May 7th. Finally, StockNews.com started coverage on shares of Boise Cascade in a report on Thursday, May 18th. They issued a "buy" rating on the stock.

Shares of NYSE BCC opened at $77.12 on Wednesday. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 4.71 and a beta of 1.50. The stock has a fifty day simple moving average of $69.34 and a two-hundred day simple moving average of $70.04. The company has a current ratio of 3.78, a quick ratio of 2.50 and a debt-to-equity ratio of 0.22. Boise Cascade has a 1-year low of $55.14 and a 1-year high of $85.17.

Boise Cascade (NYSE:BCC - Get Rating) last announced its quarterly earnings data on Friday, May 5th. The construction company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.62. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.48 billion. Boise Cascade had a return on equity of 32.79% and a net margin of 8.57%. The firm's revenue for the quarter was down 33.6% on a year-over-year basis. During the same quarter last year, the firm posted $7.61 EPS. Analysts anticipate that Boise Cascade will post 8.66 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Wednesday, May 31st. Boise Cascade's dividend payout ratio (DPR) is currently 3.66%.

Boise Cascade Co engages in the manufacture and distribution of engineered wood products (EWP) and plywood. It operates through the Wood Products and Building Materials Distribution (BMD) segments. The Wood Products segment manufactures and sells engineered wood products, plywood, particleboard, studs and ponderosa pine lumber.

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