Boise Cascade (NYSE:BCC) Sets New 12-Month Low – What’s Next?

Boise Cascade (NYSE:BCC) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $97.21 and last traded at $98.20, with a volume of 431294 shares. The stock had previously closed at $102.16.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Benchmark reaffirmed a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. DA Davidson lowered their price objective on Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Truist Financial lowered their price objective on Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a research report on Monday, February 24th. BMO Capital Markets decreased their target price on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a research report on Tuesday, February 25th. Finally, The Goldman Sachs Group decreased their target price on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $128.50.

Boise Cascade Trading Up 0.5 %

The company has a 50 day simple moving average of $119.38 and a 200 day simple moving average of $130.94. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $3.82 billion, a PE ratio of 10.54 and a beta of 1.57.

Boise Cascade (NYSE:BCC) last issued its earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. Analysts predict that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Monday, February 24th. Boise Cascade’s dividend payout ratio (DPR) is 8.79%.

Insider Activity at Boise Cascade

In related news, Director Kristopher J. Matula sold 553 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total value of $57,047.48. Following the completion of the transaction, the director now directly owns 13,099 shares of the company’s stock, valued at $1,351,292.84. This trade represents a 4.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jeffrey Robert Strom sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total value of $450,945.00. Following the completion of the transaction, the chief operating officer now directly owns 38,026 shares of the company’s stock, valued at $3,810,585.46. The trade was a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Boise Cascade

Several hedge funds have recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new stake in Boise Cascade during the 3rd quarter valued at $28,000. R Squared Ltd acquired a new stake in Boise Cascade during the 4th quarter valued at $29,000. Quarry LP grew its holdings in Boise Cascade by 502.4% during the 4th quarter. Quarry LP now owns 253 shares of the construction company’s stock valued at $30,000 after buying an additional 211 shares during the last quarter. Larson Financial Group LLC grew its holdings in Boise Cascade by 23.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock valued at $53,000 after buying an additional 73 shares during the last quarter. Finally, Principal Securities Inc. grew its holdings in Boise Cascade by 44.2% during the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock valued at $56,000 after buying an additional 145 shares during the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

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.