Boise Cascade (NYSE:BCC) Cut to Hold at StockNews.com

StockNews.com cut shares of Boise Cascade (NYSE:BCC) from a buy rating to a hold rating in a report published on Tuesday morning.

A number of other research analysts have also weighed in on BCC. The Goldman Sachs Group reduced their price target on shares of Boise Cascade from $140.00 to $122.00 and set a neutral rating for the company in a report on Wednesday, July 10th. Truist Financial decreased their price objective on Boise Cascade from $175.00 to $159.00 and set a buy rating for the company in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Boise Cascade presently has an average rating of Hold and a consensus target price of $124.75.

Boise Cascade Trading Up 0.2 %

Shares of BCC traded up $0.25 during trading hours on Tuesday, reaching $127.11. The stock had a trading volume of 263,314 shares, compared to its average volume of 313,235. The firm has a 50-day moving average of $127.10 and a 200 day moving average of $134.42. The company has a quick ratio of 2.05, a current ratio of 3.24 and a debt-to-equity ratio of 0.21. The company has a market cap of $5.02 billion, a P/E ratio of 10.33 and a beta of 1.50. Boise Cascade has a 52 week low of $87.32 and a 52 week high of $154.67.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.16. Boise Cascade had a return on equity of 22.00% and a net margin of 7.08%. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the company earned $3.67 earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. On average, sell-side analysts expect that Boise Cascade will post 10.41 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.66%. 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’s dividend payout ratio is 6.83%.

Insider Buying and Selling

In other Boise Cascade news, SVP Jill Twedt sold 1,852 shares of the business’s 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 completion of the transaction, the senior vice president now directly owns 37,437 shares in the company, valued at $5,053,995. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC boosted its holdings in shares of Boise Cascade by 1,147.1% during the 4th quarter. Global Retirement Partners LLC now owns 212 shares of the construction company’s stock valued at $28,000 after acquiring an additional 195 shares in the last quarter. New York State Teachers Retirement System boosted its position in Boise Cascade by 0.4% during the 4th quarter. New York State Teachers Retirement System now owns 30,844 shares of the construction company’s stock worth $3,990,000 after buying an additional 108 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in Boise Cascade by 54.2% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 58,919 shares of the construction company’s stock worth $7,596,000 after acquiring an additional 20,712 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Boise Cascade by 50.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,624 shares of the construction company’s stock worth $3,832,000 after acquiring an additional 9,928 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in Boise Cascade by 81.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 8,135 shares of the construction company’s stock valued at $1,052,000 after acquiring an additional 3,660 shares during the period. Institutional investors own 96.18% 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.