Boise Cascade (NYSE:BCC) Hits New 52-Week Low – Here’s What Happened

Shares of Boise Cascade, L.L.C. (NYSE:BCCGet Free Report) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $65.00 and last traded at $66.4690, with a volume of 20747 shares trading hands. The stock had previously closed at $65.47.

Wall Street Analyst Weigh In

BCC has been the subject of a number of analyst reports. Truist Financial set a $97.00 price target on Boise Cascade in a report on Wednesday, May 6th. The Goldman Sachs Group increased their price target on Boise Cascade from $85.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Weiss Ratings upgraded shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. Zacks Research upgraded shares of Boise Cascade from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen raised shares of Boise Cascade from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $98.00.

Get Our Latest Stock Analysis on BCC

Boise Cascade Trading Down 0.2%

The company has a current ratio of 2.77, a quick ratio of 1.37 and a debt-to-equity ratio of 0.24. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 1.01 and a beta of 1.15. The firm has a 50-day moving average price of $74.76 and a 200 day moving average price of $76.91.

Boise Cascade (NYSE:BCCGet Free Report) last posted its quarterly earnings results on Monday, May 4th. The construction company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.07. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.46 billion. Boise Cascade had a return on equity of 5.55% and a net margin of 1.73%.The business’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.06 EPS. As a group, sell-side analysts forecast that Boise Cascade, L.L.C. will post 3.67 EPS for the current year.

Boise Cascade Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Monday, June 1st will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Monday, June 1st. Boise Cascade’s dividend payout ratio (DPR) is presently 29.73%.

Insider Buying and Selling at Boise Cascade

In related news, SVP Jill Twedt sold 6,070 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $66.45, for a total transaction of $403,351.50. Following the sale, the senior vice president owned 26,545 shares in the company, valued at $1,763,915.25. This represents a 18.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.42% of the stock is currently owned by corporate insiders.

Institutional Trading of Boise Cascade

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its holdings in shares of Boise Cascade by 19.8% in the 3rd quarter. Wellington Management Group LLP now owns 3,268,407 shares of the construction company’s stock worth $252,713,000 after purchasing an additional 539,962 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Boise Cascade by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,325,781 shares of the construction company’s stock worth $176,410,000 after purchasing an additional 46,561 shares during the last quarter. State Street Corp lifted its holdings in shares of Boise Cascade by 0.3% in the 4th quarter. State Street Corp now owns 1,472,071 shares of the construction company’s stock worth $108,344,000 after purchasing an additional 3,817 shares during the last quarter. Norges Bank bought a new stake in shares of Boise Cascade in the 4th quarter worth approximately $42,146,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Boise Cascade by 12.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 507,108 shares of the construction company’s stock worth $37,323,000 after purchasing an additional 54,279 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

About Boise Cascade

(Get Free Report)

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.

Further Reading

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