Wed Sep 25 07:56:57 UTC 2024: ## State of New Jersey Pension Fund Cuts Boise Cascade Holdings, Other Investors Adjust Stakes

**TRENTON, NJ** – The State of New Jersey Common Pension Fund D has reduced its stake in Boise Cascade Company (NYSE: BCC) by 37.7% during the second quarter, according to filings with the Securities and Exchange Commission. The fund now holds 14,769 shares of the construction company, valued at $1,761,000.

This move comes amidst a period of mixed activity from other institutional investors. Norges Bank acquired a new position in Boise Cascade during the fourth quarter, worth $60,383,000. Meanwhile, Price T Rowe Associates Inc. MD increased its stake by 293.4% in the first quarter, now owning 236,980 shares worth $36,346,000.

Other notable adjustments include a 358.0% increase in holdings by the Public Employees Retirement Association of Colorado and a 22.1% boost by First Trust Advisors LP in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S also increased its stake by 76.4% during the first quarter.

Overall, institutional investors now hold 96.18% of Boise Cascade’s outstanding shares.

Boise Cascade’s stock opened at $141.79 on Wednesday, with a market cap of $5.60 billion. The company recently declared a quarterly dividend of $0.21 per share, representing a 5.9% dividend yield.

Analysts have expressed mixed opinions on the stock. Goldman Sachs Group downgraded Boise Cascade to “neutral” with a $122.00 price target, while Truist Financial reaffirmed a “buy” rating with a $154.00 price target. Bank of America gave the company an “underperform” rating and raised its price target to $124.00. The average target price among analysts is $128.00, with an overall “hold” rating.

Boise Cascade specializes in wood products manufacturing and building materials distribution in the United States and Canada. The company operates through two segments: Wood Products and Building Materials Distribution.

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