Boise Cascade (NYSE:BCC) Plans Dividend Increase – $0.21 Per Share

Boise Cascade (NYSE:BCC) declared a quarterly dividend on Friday, August 2nd, Wall Street Journal reports. Stockholders of record on Tuesday, September 3rd will be paid a dividend of 0.21 per share by the construction company on Monday, September 16th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is an increase from Boise Cascade’s previous quarterly dividend of $0.20.

Boise Cascade has increased its dividend payment by an average of 20.5% per year over the last three years. Boise Cascade has a payout ratio of 7.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Boise Cascade to earn $11.27 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 7.1%.

Boise Cascade Trading Down 3.5 %

NYSE BCC traded down $4.71 on Friday, reaching $128.89. The company had a trading volume of 326,166 shares, compared to its average volume of 309,492. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of 10.34 and a beta of 1.50. Boise Cascade has a fifty-two week low of $87.32 and a fifty-two week high of $154.67. The business has a 50 day moving average of $128.36 and a two-hundred day moving average of $134.69. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.24 and a quick ratio of 2.05.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Monday, May 6th. The construction company reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.31. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.56 billion. Boise Cascade had a net margin of 7.08% and a return on equity of 22.00%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.43 EPS. Analysts forecast that Boise Cascade will post 10.41 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BCC shares. Truist Financial dropped their price objective on shares of Boise Cascade from $175.00 to $159.00 and set a “buy” rating on the stock in a report on Tuesday, July 16th. StockNews.com upgraded Boise Cascade from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. Finally, The Goldman Sachs Group decreased their price objective on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $126.00.

Insider Activity at Boise Cascade

In other Boise Cascade news, SVP Jill Twedt sold 1,852 shares of Boise Cascade stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $135.00, for a total transaction of $250,020.00. Following the transaction, the senior vice president now owns 37,437 shares of the company’s stock, valued at approximately $5,053,995. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Jeffrey Robert Strom sold 2,500 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $135.00, for a total transaction of $337,500.00. Following the transaction, the executive vice president now owns 43,353 shares of the company’s stock, valued at approximately $5,852,655. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jill Twedt sold 1,852 shares of Boise Cascade stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $135.00, for a total value of $250,020.00. Following the completion of the sale, the senior vice president now directly owns 37,437 shares of the company’s stock, valued at approximately $5,053,995. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by insiders.

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.