According to Zacks, “Boise Cascade Company operates as a wood products manufacturer and building materials distributor. The Company manufactures engineered wood products, plywood, lumber and particleboard and distributes wood products, such as decking, EWP, lumber, panel, particleboard, and MDF products. It has operations primarily in the United States and Canada. Boise Cascade Company is headquartered in Boise, Idaho. “
A number of other research analysts have also weighed in on the stock. ValuEngine raised shares of Boise Cascade from a hold rating to a buy rating in a research report on Wednesday, October 16th. DA Davidson lowered shares of Boise Cascade from a buy rating to a neutral rating and set a $40.00 price target for the company. in a research report on Friday, November 8th. BMO Capital Markets increased their price target on shares of Boise Cascade from $30.00 to $35.00 and gave the stock a market perform rating in a research report on Monday, November 11th. Finally, Vertical Research lowered shares of Boise Cascade from a buy rating to a hold rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Boise Cascade currently has a consensus rating of Hold and a consensus price target of $33.00.
NYSE:BCC traded down $1.00 during trading hours on Tuesday, reaching $37.56. The company’s stock had a trading volume of 338,610 shares, compared to its average volume of 372,570. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 2.62 and a beta of 2.02. Boise Cascade has a one year low of $22.00 and a one year high of $39.65. The business’s 50-day moving average is $34.58 and its 200-day moving average is $29.31. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.53 and a quick ratio of 1.42.
Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Thursday, November 7th. The construction company reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.01. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Boise Cascade had a negative net margin of 0.13% and a positive return on equity of 8.10%. Boise Cascade’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.76 earnings per share. On average, sell-side analysts predict that Boise Cascade will post 1.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.06%. This is a boost from Boise Cascade’s previous quarterly dividend of $0.09. The ex-dividend date is Friday, November 29th. Boise Cascade’s dividend payout ratio is currently 15.72%.
In other Boise Cascade news, EVP Dean Michael Brown sold 2,529 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $37.64, for a total transaction of $95,191.56. Following the sale, the executive vice president now directly owns 26,667 shares of the company’s stock, valued at $1,003,745.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas Kevin Corrick sold 20,923 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $38.08, for a total transaction of $796,747.84. Following the sale, the chief executive officer now directly owns 222,752 shares in the company, valued at $8,482,396.16. The disclosure for this sale can be found here. Insiders have sold 44,396 shares of company stock worth $1,683,907 over the last ninety days. Insiders own 1.50% of the company’s stock.
A number of institutional investors have recently modified their holdings of BCC. Nuveen Asset Management LLC bought a new stake in Boise Cascade during the second quarter worth about $19,081,000. BlackRock Inc. grew its stake in Boise Cascade by 4.1% during the second quarter. BlackRock Inc. now owns 6,503,241 shares of the construction company’s stock worth $182,807,000 after buying an additional 259,027 shares during the last quarter. Man Group plc grew its stake in Boise Cascade by 150.6% during the second quarter. Man Group plc now owns 257,269 shares of the construction company’s stock worth $7,232,000 after buying an additional 154,600 shares during the last quarter. Marshall Wace North America L.P. grew its stake in Boise Cascade by 1,022.9% during the second quarter. Marshall Wace North America L.P. now owns 143,530 shares of the construction company’s stock worth $4,034,000 after buying an additional 130,748 shares during the last quarter. Finally, Macquarie Group Ltd. grew its stake in shares of Boise Cascade by 7.0% during the second quarter. Macquarie Group Ltd. now owns 1,927,804 shares of the construction company’s stock valued at $54,191,000 after purchasing an additional 126,776 shares during the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.
Boise Cascade Company Profile
Boise Cascade Company manufactures wood products and distributes building materials in the United States and Canada. It operates in 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; and structural, appearance, and industrial plywood panels.
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