Boise Cascade, L.L.C. (NYSE:BCC) Receives Average Rating of “Hold” from Analysts

Boise Cascade, L.L.C. (NYSE:BCC) has been given a consensus recommendation of “Hold” by the seven analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $93.60.

A number of brokerages have weighed in on BCC. The Goldman Sachs Group lifted their price target on shares of Boise Cascade from $81.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Weiss Ratings raised Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 17th. Wall Street Zen upgraded Boise Cascade from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Zacks Research downgraded Boise Cascade from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Finally, Bank of America upped their price target on Boise Cascade from $80.00 to $81.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 14th.

Insider Buying and Selling

In other Boise Cascade news, Director Kristopher J. Matula sold 1,930 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total transaction of $163,239.40. Following the completion of the sale, the director directly owned 13,982 shares in the company, valued at $1,182,597.56. The trade was a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jill Twedt sold 1,250 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $79.40, for a total transaction of $99,250.00. Following the completion of the sale, the senior vice president directly owned 25,295 shares of the company’s stock, valued at $2,008,423. The trade was a 4.71% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.42% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Boise Cascade

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in Boise Cascade in the 2nd quarter valued at $463,729,000. California State Teachers Retirement System lifted its stake in shares of Boise Cascade by 7,450.4% during the second quarter. California State Teachers Retirement System now owns 3,278,315 shares of the construction company’s stock worth $254,496,000 after purchasing an additional 3,234,896 shares in the last quarter. Norges Bank acquired a new position in shares of Boise Cascade during the fourth quarter worth about $42,146,000. Wellington Management Group LLP boosted its position in shares of Boise Cascade by 19.8% in the third quarter. Wellington Management Group LLP now owns 3,268,407 shares of the construction company’s stock worth $252,713,000 after buying an additional 539,962 shares during the period. Finally, Atlas FRM LLC purchased a new position in Boise Cascade in the 2nd quarter worth approximately $34,545,350. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Stock Up 0.2%

BCC opened at $75.57 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.71 and a quick ratio of 1.31. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 25.62, a price-to-earnings-growth ratio of 1.02 and a beta of 1.08. The business has a 50-day moving average of $78.92 and a two-hundred day moving average of $76.00. Boise Cascade has a 12 month low of $65.00 and a 12 month high of $91.97.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Monday, August 3rd. The construction company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.40. Boise Cascade had a net margin of 1.64% and a return on equity of 5.41%. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the company posted $1.64 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, research analysts expect that Boise Cascade will post 3.86 earnings per share for the current year.

Boise Cascade Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Tuesday, September 1st will be given a dividend of $0.23 per share. This is a boost from Boise Cascade’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.92 dividend on an annualized basis and a yield of 1.2%. Boise Cascade’s dividend payout ratio is currently 31.19%.

Boise Cascade Company Profile

Boise Cascade Company is a wood products manufacturer and building materials distributor headquartered in Boise, Idaho. The company serves residential construction, repair and remodeling, and other construction markets through two primary business segments: Wood Products and Building Materials Distribution.

Its Wood Products business manufactures engineered wood products, including laminated veneer lumber, I-joists, laminated strand lumber, plywood, and other structural panels. These products are used in floors, roofs, walls, and other components of residential and commercial buildings.

Through its Building Materials Distribution operations, Boise Cascade supplies engineered wood, lumber, plywood, oriented strand board, siding, and other construction materials to dealers and professional contractors.