Boise Cascade (NYSE:BCC) was raised by Texas Permanent School Fund Corp

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Texas Permanent School Fund Corp boosted its holdings in shares of Boise Cascade (NYSE:BCC – Free Report) by 5.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,584 shares of the construction company’s stock after acquiring an additional 1,935 shares during the period. Texas Permanent School Fund Corp’s holdings in Boise Cascade were worth $4,362,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have recently modified their positions in the company. Principal Securities Inc. purchased a new stake in Boise Cascade during the fourth quarter valued at about $27,000. Scarborough Advisors LLC purchased a new stake in shares of Boise Cascade in the 4th quarter valued at $36,000. Larson Financial Group LLC bought a new stake in shares of Boise Cascade in the second quarter valued at $36,000. iA Global Asset Management Inc. bought a new stake in shares of Boise Cascade in the first quarter worth $82,000. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Boise Cascade by 500.0% in the first quarter. Daiwa Securities Group Inc. now owns 600 shares of the construction company’s stock worth $92,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company’s shares.

Boise Cascade price performance

Shares of BCC stock opened at $135.86 on Friday. The company’s 50-day moving average is $129.16 and its 200-day moving average is $133.28. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.28, and a quick ratio of 2.08. The company has a market cap of $5.36 billion, a price-to-earnings ratio of 11.05 and a beta of 1.52. Boise Cascade has a fifty-two week low of $87.32 and a fifty-two week high of $154.67.

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Boise Cascade (NYSE:BCC – Get Free Report ) last posted its earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.16. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.77 billion. In the same quarter last year, the firm earned $3.67 EPS. The company’s revenue was down 1.0% compared to the same quarter last year. equities research analysts expect that Boise Cascade will post 9.76 EPS for the current fiscal year.

Boise Cascade increases dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be given a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a dividend of $0.84 on an annualized basis and a yield of 0.62%. This is an increase from Boise Cascade’s previous quarterly dividend of $0.20. Boise Cascade’s payout ratio is 6.83%.

Analyst upgrades and downgrades

A number of equities analysts have recently weighed in on the company. Goldman Sachs Group cut their price target on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Bank of America boosted their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a report on Thursday. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Truist Financial restated a “buy” rating and issued a $154.00 target price (down from $159.00) on shares of Boise Cascade in a research report on Wednesday, 7 August. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $128.00, according to MarketBeat.com.

Check out our latest analysis of BCC

Boise Cascade Company Profile

(Free Report)

Boise Cascade Company engages in the manufacture of wood products and the distribution of building materials in the United States and Canada. It operates through two segments, Wood Products and Construction Materials Distribution. The Wood Products segment produces laminated veneer lumber and laminated beams used in headers and beams; I-beams for residential and commercial floor and roof systems and other structural applications; structural, appearance and industrial plywood panels; and ponderosa pine shop lumber and quality boards for the look.