Boise Cascade (NYSE:BCC) Sees Significant Growth in Short Interest

Boise Cascade (NYSE:BCC) was the target of a significant increase in short interest during 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. Based on an average trading volume of 310,200 shares, the short-interest ratio is currently 4.0 days. Approximately 3.1% of the company’s shares are short sold.

Insider Buying and Selling at Boise Cascade

In other news, EVP Dean Michael Brown sold 11,117 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.98% of the company’s stock.

Hedge Funds Weigh In On Boise Cascade

Large investors have recently added to or reduced their stakes in the company. USA Financial Formulas lifted its stake in Boise Cascade by 5,050.0% in the fourth quarter. USA Financial Formulas now owns 206 shares of the construction company’s stock valued at $27,000 after buying an additional 202 shares during the last quarter. Principal Securities Inc. bought a new stake in Boise Cascade in the fourth quarter valued at $27,000. Global Retirement Partners LLC lifted its stake in Boise Cascade by 1,147.1% in 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 acquired a new position in shares of Boise Cascade during the fourth quarter valued at $36,000. Finally, Hexagon Capital Partners LLC increased its holdings in shares of Boise Cascade by 76.0% during the third quarter. Hexagon Capital Partners LLC now owns 433 shares of the construction company’s stock valued at $45,000 after purchasing an additional 187 shares during the period. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Price Performance

NYSE:BCC opened at $132.01 on Thursday. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of 10.89 and a beta of 1.64. 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 company’s 50-day moving average is $139.91 and its two-hundred day moving average is $126.62. Boise Cascade has a 12-month low of $66.82 and a 12-month high of $154.67.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Wednesday, February 21st. The construction company reported $2.44 EPS 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 analyst estimates of $1.64 billion. During the same period in the prior year, the company earned $2.95 EPS. The company’s revenue was up 1.0% compared to the same quarter last year. Research analysts expect that Boise Cascade will post 11.44 EPS for the current year.

Boise Cascade Announces Dividend

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

Analyst Ratings Changes

BCC has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their price target on shares of Boise Cascade from $114.00 to $129.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, Truist Financial lifted their target price 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. One investment 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’s stock. According to MarketBeat.com, Boise Cascade currently has an average rating of “Hold” and an average target price of $125.00.

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.