Boise Cascade (NYSE:BCC) Plans Quarterly Dividend of $0.20

Boise Cascade (NYSE:BCC) announced a quarterly dividend on Friday, May 3rd, Wall Street Journal reports. Stockholders of record on Monday, June 3rd will be given a dividend of 0.20 per share by the construction company on Monday, June 17th. This represents a $0.80 annualized dividend and a dividend yield of 0.59%. The ex-dividend date is Monday, June 3rd.

Boise Cascade has increased its dividend payment by an average of 20.5% per year over the last three years and has raised its dividend every year for the last 3 years. Boise Cascade has a payout ratio of 6.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Boise Cascade to earn $12.19 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 6.6%.

Boise Cascade Trading Up 1.2 %

BCC stock traded up $1.63 during trading on Friday, hitting $136.11. The company had a trading volume of 328,037 shares, compared to its average volume of 295,876. Boise Cascade has a 52-week low of $66.82 and a 52-week high of $154.67. The company has a 50 day simple moving average of $140.20 and a 200-day simple moving average of $126.97. The firm has a market capitalization of $5.38 billion, a P/E ratio of 11.23 and a beta of 1.64. The company has a quick ratio of 2.26, a current ratio of 3.46 and a debt-to-equity ratio of 0.22.

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

Analysts Set New Price Targets

BCC has been the topic of several research reports. Truist Financial lifted their price objective on shares of Boise Cascade from $156.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, March 21st. The Goldman Sachs Group boosted their price target on Boise Cascade from $114.00 to $129.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Finally, StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $125.00.

Insider Activity

In related news, EVP Dean Michael Brown sold 11,117 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $139.09, for a total transaction of $1,546,263.53. Following the sale, the executive vice president now directly owns 40,237 shares of the company’s stock, valued at $5,596,564.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.98% of the company’s stock.

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.