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

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

Wall Street Analysts Forecast Growth

BCC has been the topic of a number of recent research reports. Loop Capital dropped their price target on Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Truist Financial decreased their price target on Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Benchmark reiterated a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. BMO Capital Markets reduced their price objective on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a research note on Tuesday, February 25th. Finally, DA Davidson reduced their price target 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Boise Cascade presently has an average rating of “Hold” and a consensus price target of $128.50.

Boise Cascade Stock Performance

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

Boise Cascade (NYSE:BCC) last issued its quarterly 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 firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.57 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. On average, analysts anticipate that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

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

Insider Buying and Selling

In related news, Director Kristopher J. Matula sold 553 shares of the business’s stock in a transaction 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 sale, the director now owns 13,099 shares in the company, valued at approximately $1,351,292.84. The trade was a 4.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey Robert Strom sold 4,500 shares of the business’s stock in a transaction 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 sale, the chief operating officer now owns 38,026 shares in the company, valued at $3,810,585.46. This represents a 10.58 % decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Boise Cascade

Several institutional investors and hedge funds have recently modified their holdings of the company. Larson Financial Group LLC raised its holdings in shares of Boise Cascade by 23.9% in 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 period. Vise Technologies Inc. grew its stake in Boise Cascade by 3.4% during the 4th quarter. Vise Technologies Inc. now owns 3,021 shares of the construction company’s stock worth $359,000 after purchasing an additional 100 shares in the last quarter. Invst LLC grew its stake in Boise Cascade by 2.6% during the 3rd quarter. Invst LLC now owns 5,060 shares of the construction company’s stock worth $713,000 after purchasing an additional 128 shares in the last quarter. D.A. Davidson & CO. grew its stake in Boise Cascade by 4.2% during the 4th quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company’s stock worth $388,000 after purchasing an additional 133 shares in the last quarter. Finally, Principal Securities Inc. grew its stake in Boise Cascade by 44.2% during the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock worth $56,000 after purchasing an additional 145 shares in the last quarter. Hedge funds and other 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.