Boise Cascade (NYSE:BCC) SVP Sells $403,351.50 in Stock

Boise Cascade, L.L.C. (NYSE:BCC) SVP Jill Twedt sold 6,070 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $66.45, for a total value of $403,351.50. Following the transaction, the senior vice president directly owned 26,545 shares in the company, valued at $1,763,915.25. The trade was a 18.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Boise Cascade Stock Up 3.6%

Shares of BCC traded up $2.43 during midday trading on Thursday, reaching $69.41. 939,067 shares of the stock were exchanged, compared to its average volume of 432,981. Boise Cascade, L.L.C. has a 52 week low of $65.14 and a 52 week high of $95.00. 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’s 50 day moving average is $75.83 and its two-hundred day moving average is $77.09. The company has a market capitalization of $2.44 billion, a P/E ratio of 23.45, a PEG ratio of 1.01 and a beta of 1.15.

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

Boise Cascade Dividend Announcement

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

Institutional Investors Weigh In On Boise Cascade

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its stake in Boise Cascade by 890.3% in the fourth quarter. SG Americas Securities LLC now owns 34,977 shares of the construction company’s stock valued at $2,574,000 after buying an additional 31,445 shares during the last quarter. AlphaQuest LLC raised its stake in Boise Cascade by 131.5% in the third quarter. AlphaQuest LLC now owns 35,873 shares of the construction company’s stock valued at $2,774,000 after buying an additional 20,378 shares during the last quarter. ARGA Investment Management LP purchased a new stake in Boise Cascade in the third quarter valued at about $1,499,000. Allianz Asset Management GmbH raised its stake in Boise Cascade by 10.2% in the third quarter. Allianz Asset Management GmbH now owns 175,031 shares of the construction company’s stock valued at $13,533,000 after buying an additional 16,270 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Boise Cascade by 2.6% in the third quarter. Dimensional Fund Advisors LP now owns 2,280,347 shares of the construction company’s stock valued at $176,313,000 after buying an additional 58,131 shares during the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BCC shares. Zacks Research raised Boise Cascade from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. DA Davidson dropped their price objective on Boise Cascade from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Truist Financial set a $97.00 price objective on Boise Cascade in a research report on Wednesday, May 6th. The Goldman Sachs Group raised their price objective on Boise Cascade from $85.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. Finally, Wall Street Zen raised Boise Cascade from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $98.00.

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.