Public Sector Pension Investment Board Decreases Stake in Boise Cascade (NYSE:BCC)

Public Sector Pension Investment Board lessened its stake in Boise Cascade (NYSE:BCC) by 4.9% during the third quarter, HoldingsChannel.com reports. The firm owned 82,573 shares of the construction company’s stock after selling 4,300 shares during the period. Public Sector Pension Investment Board’s holdings in Boise Cascade were worth $11,641,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Bridgewater Associates LP acquired a new stake in shares of Boise Cascade in the 3rd quarter valued at about $262,000. Cynosure Group LLC acquired a new stake in shares of Boise Cascade in the 3rd quarter valued at about $366,000. BNP Paribas Financial Markets raised its stake in shares of Boise Cascade by 30.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,716 shares of the construction company’s stock valued at $2,921,000 after purchasing an additional 4,860 shares in the last quarter. FMR LLC raised its stake in shares of Boise Cascade by 158.9% in the 3rd quarter. FMR LLC now owns 126,123 shares of the construction company’s stock valued at $17,781,000 after purchasing an additional 77,401 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Boise Cascade by 1,597.4% in the 3rd quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock valued at $17,907,000 after purchasing an additional 119,103 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Trading Down 1.4 %

Boise Cascade stock opened at $146.40 on Friday. Boise Cascade has a 52 week low of $106.38 and a 52 week high of $155.42. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 14.32 and a beta of 1.53. The company has a 50 day moving average price of $140.21 and a 200 day moving average price of $133.31.

Boise Cascade (NYSE:BCC) last released its earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the company earned $3.58 EPS. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. Research analysts forecast that Boise Cascade will post 9.57 EPS for the current year.

Boise Cascade Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Monday, December 2nd. Boise Cascade’s payout ratio is presently 8.22%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. StockNews.com lowered shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Loop Capital assumed coverage on shares of Boise Cascade in a research note on Friday, November 1st. They set a “buy” rating and a $155.00 price objective on the stock. Truist Financial increased their price objective on shares of Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Bank of America increased their price objective on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research note on Thursday, September 12th. Finally, BMO Capital Markets increased their price objective on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $139.60.

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.