Boise Cascade (NYSE:BCC) Short Interest Update

Boise Cascade (NYSE:BCC) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 1,230,000 shares, an increase of 6.0% from the March 31st total of 1,160,000 shares. Currently, 3.1% of the company’s stock are short sold. Based on an average daily volume of 310,200 shares, the days-to-cover ratio is presently 4.0 days.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Truist Financial increased their price objective on shares of Boise Cascade from $156.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. The Goldman Sachs Group raised their price target on shares of Boise Cascade from $114.00 to $129.00 and gave the company a “neutral” rating in a research report on Thursday, January 11th. Finally, StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $125.00.

Boise Cascade Price Performance

BCC opened at $132.01 on Thursday. The company’s 50-day simple moving average is $139.91 and its two-hundred day simple moving average is $126.62. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.26 and a current ratio of 3.46. The stock has a market capitalization of $5.22 billion, a P/E ratio of 10.89 and a beta of 1.64. Boise Cascade has a 52-week low of $66.82 and a 52-week high of $154.67.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Wednesday, February 21st. The construction company reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($0.01). Boise Cascade had a net margin of 7.07% and a return on equity of 21.94%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the company earned $2.95 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, analysts predict that Boise Cascade will post 11.44 EPS for the current year.

Boise Cascade Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 23rd were paid a $0.20 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.61%. Boise Cascade’s dividend payout ratio (DPR) is currently 6.60%.

Insiders Place Their Bets

In related news, EVP Dean Michael Brown sold 11,117 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 40,237 shares in the company, valued at approximately $5,596,564.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.98% of the company’s stock.

Institutional Trading of Boise Cascade

Hedge funds have recently bought and sold shares of the company. USA Financial Formulas boosted its position in Boise Cascade by 5,050.0% in the fourth quarter. USA Financial Formulas now owns 206 shares of the construction company’s stock worth $27,000 after purchasing an additional 202 shares during the last quarter. Principal Securities Inc. bought a new stake in Boise Cascade during the fourth quarter valued at approximately $27,000. Global Retirement Partners LLC increased its holdings in Boise Cascade by 1,147.1% during the fourth quarter. Global Retirement Partners LLC now owns 212 shares of the construction company’s stock valued at $28,000 after buying an additional 195 shares during the last quarter. Scarborough Advisors LLC bought a new position in Boise Cascade in the fourth quarter worth approximately $36,000. Finally, Hexagon Capital Partners LLC boosted its stake in shares of Boise Cascade by 76.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 433 shares of the construction company’s stock worth $45,000 after acquiring an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

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.