Boise Cascade, L.L.C. (NYSE:BCC – Get Free Report) shares shot up 5.3% during mid-day trading on Friday . The stock traded as high as $75.50 and last traded at $76.0550. Approximately 29,007 shares traded hands during trading, a decline of 93% from the average daily volume of 425,580 shares. The stock had previously closed at $72.24.
Wall Street Analysts Forecast Growth
BCC has been the topic of a number of analyst reports. Truist Financial set a $97.00 target price on shares of Boise Cascade in a research report on Wednesday, May 6th. DA Davidson cut their price target on Boise Cascade from $95.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Weiss Ratings raised Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Finally, Zacks Research upgraded Boise Cascade from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $95.75.
Check Out Our Latest Analysis on Boise Cascade
Boise Cascade Stock Performance
Boise Cascade (NYSE:BCC – Get Free Report) last announced its quarterly earnings data 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 company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Boise Cascade had a net margin of 1.73% and a return on equity of 5.55%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.06 EPS. As a group, research analysts anticipate that Boise Cascade, L.L.C. will post 3.67 earnings per share for the current year.
Boise Cascade Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Monday, June 1st were issued a $0.22 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.88 dividend on an annualized basis and a yield of 1.2%. Boise Cascade’s dividend payout ratio (DPR) is presently 29.73%.
Insider Transactions at Boise Cascade
In other Boise Cascade news, SVP Jill Twedt sold 6,070 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $66.45, for a total transaction of $403,351.50. Following the completion of the sale, the senior vice president owned 26,545 shares of the company’s stock, valued at approximately $1,763,915.25. The trade was 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 accessible through this hyperlink. Company insiders own 1.42% of the company’s stock.
Hedge Funds Weigh In On Boise Cascade
Large investors have recently modified their holdings of the company. Dayah Capital LLC purchased a new stake in shares of Boise Cascade during the 1st quarter worth about $379,000. Amundi increased its position in Boise Cascade by 24.2% during the 1st quarter. Amundi now owns 8,910 shares of the construction company’s stock worth $676,000 after purchasing an additional 1,734 shares in the last quarter. California State Teachers Retirement System raised its holdings in Boise Cascade by 25.6% in the first quarter. California State Teachers Retirement System now owns 43,419 shares of the construction company’s stock valued at $3,293,000 after buying an additional 8,850 shares during the period. Quantinno Capital Management LP raised its holdings in Boise Cascade by 38.1% in the first quarter. Quantinno Capital Management LP now owns 20,879 shares of the construction company’s stock valued at $1,584,000 after buying an additional 5,759 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Boise Cascade during the first quarter valued at approximately $4,412,000. 96.18% of the stock is currently owned by hedge funds and other institutional investors.
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.
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