Boise Cascade (NYSE:BCC) Announces Quarterly Earnings Results

Boise Cascade (NYSE:BCC) released its earnings results on Monday. The construction company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.08, FiscalAI reports. Boise Cascade had a return on equity of 9.00% and a net margin of 2.96%.The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.45 billion.

Boise Cascade Trading Down 1.4%

BCC stock traded down $1.18 during mid-day trading on Monday, reaching $80.95. 875,408 shares of the stock traded hands, compared to its average volume of 392,710. Boise Cascade has a 52-week low of $65.14 and a 52-week high of $108.43. The stock’s fifty day moving average is $81.34 and its 200-day moving average is $78.86. The company has a market cap of $3.00 billion, a P/E ratio of 16.00 and a beta of 1.27. The company has a current ratio of 3.10, a quick ratio of 1.69 and a debt-to-equity ratio of 0.22.

Boise Cascade Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Monday, February 23rd will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, February 23rd. Boise Cascade’s payout ratio is presently 17.39%.

Institutional Trading of Boise Cascade

A number of hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd grew its holdings in shares of Boise Cascade by 231.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock valued at $29,000 after buying an additional 259 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Boise Cascade in the 3rd quarter worth about $38,000. UMB Bank n.a. boosted its position in Boise Cascade by 98.5% during the 4th quarter. UMB Bank n.a. now owns 524 shares of the construction company’s stock worth $39,000 after acquiring an additional 260 shares during the period. iSAM Funds UK Ltd acquired a new stake in Boise Cascade during the 3rd quarter worth about $44,000. Finally, CIBC Private Wealth Group LLC grew its stake in Boise Cascade by 662.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 648 shares of the construction company’s stock valued at $50,000 after acquiring an additional 563 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BCC. Weiss Ratings upgraded Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 28th. DA Davidson reaffirmed a “buy” rating and issued a $95.00 target price on shares of Boise Cascade in a research report on Thursday, November 20th. BMO Capital Markets reiterated an “outperform” rating on shares of Boise Cascade in a research note on Thursday, January 8th. Finally, Truist Financial upped their price target on shares of Boise Cascade from $88.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Boise Cascade has an average rating of “Moderate Buy” and an average target price of $101.83.

About Boise Cascade

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company’s operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.