Illinois Municipal Retirement Fund Cuts Position in Boise Cascade (NYSE:BCC)

Illinois Municipal Retirement Fund trimmed its holdings in shares of Boise Cascade (NYSE:BCC) by 5.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,421 shares of the construction company’s stock after selling 1,309 shares during the quarter. Illinois Municipal Retirement Fund owned 0.06% of Boise Cascade worth $2,546,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Tidal Investments LLC raised its stake in shares of Boise Cascade by 341.9% during the 3rd quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock worth $2,229,000 after purchasing an additional 12,231 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in 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 worth $61,680,000 after buying an additional 9,128 shares during the last quarter. Fulcrum Capital LLC purchased a new stake in Boise Cascade during the fourth quarter worth about $1,092,000. D.A. Davidson & CO. raised its position in Boise Cascade by 4.2% in the fourth quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company’s stock worth $388,000 after acquiring an additional 133 shares during the period. Finally, Nordea Investment Management AB boosted its stake in Boise Cascade by 5.0% in the fourth quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company’s stock valued at $14,454,000 after acquiring an additional 5,779 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Kristopher J. Matula sold 553 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total transaction of $57,047.48. Following the completion of the transaction, the director now owns 13,099 shares of the company’s stock, valued at approximately $1,351,292.84. The trade was a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BCC shares. StockNews.com lowered shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. DA Davidson decreased their target price on Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a research report on Monday. Truist Financial dropped their price target on Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday. BMO Capital Markets decreased their price objective on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a report on Tuesday. Finally, The Goldman Sachs Group lowered their price objective on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $128.50.

Boise Cascade Stock Performance

NYSE:BCC opened at $102.71 on Friday. The business’s fifty day moving average is $121.11 and its 200 day moving average is $131.63. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 10.74 and a beta of 1.57. 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 has a 52-week low of $102.17 and a 52-week high of $155.42.

Boise Cascade (NYSE:BCC) last posted its earnings results 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). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Research analysts predict that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Monday, February 24th. Boise Cascade’s payout ratio is 8.79%.

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.