Boise Cascade (NYSE:BCC) Trading Down 4.9%

Shares of Boise Cascade (NYSE:BCC) were down 4.9% during trading on Tuesday . The company traded as low as $138.79 and last traded at $141.67. Approximately 103,040 shares traded hands during trading, a decline of 64% from the average daily volume of 289,675 shares. The stock had previously closed at $149.00.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BCC shares. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. The Goldman Sachs Group raised their target price on shares of Boise Cascade from $114.00 to $129.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Finally, Truist Financial increased their price target on shares of Boise Cascade from $156.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $125.00.

Boise Cascade Trading Down 7.0 %

The stock has a market capitalization of $5.48 billion, a PE ratio of 11.56 and a beta of 1.60. The company has a current ratio of 3.46, a quick ratio of 2.26 and a debt-to-equity ratio of 0.22. The business’s 50-day moving average is $140.18 and its two-hundred day moving average is $123.66.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Wednesday, February 21st. The construction company reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($0.01). Boise Cascade had a net margin of 7.07% and a return on equity of 21.94%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period last year, the business earned $2.95 EPS. The firm’s revenue was up 1.0% compared to the same quarter last year. On average, analysts predict that Boise Cascade will post 11.58 earnings per share for the current year.

Boise Cascade Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 23rd were given a $0.20 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.58%. Boise Cascade’s payout ratio is currently 6.60%.

Insider Transactions at Boise Cascade

In related news, EVP Dean Michael Brown sold 11,117 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $139.09, for a total value of $1,546,263.53. Following the completion of the transaction, the executive vice president now owns 40,237 shares of the company’s stock, valued at $5,596,564.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.05% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Neo Ivy Capital Management acquired a new stake in shares of Boise Cascade during the 2nd quarter worth approximately $25,000. USA Financial Formulas boosted its holdings in shares of Boise Cascade by 5,050.0% during the fourth quarter. USA Financial Formulas now owns 206 shares of the construction company’s stock valued at $27,000 after acquiring an additional 202 shares during the period. Principal Securities Inc. bought a new position in shares of Boise Cascade during the fourth quarter worth about $27,000. Global Retirement Partners LLC increased its holdings in shares of Boise Cascade by 1,147.1% in the 4th quarter. Global Retirement Partners LLC now owns 212 shares of the construction company’s stock worth $28,000 after acquiring an additional 195 shares during the period. Finally, Scarborough Advisors LLC bought a new stake in Boise Cascade in the 4th quarter valued at about $36,000. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Company Profile

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.