Boise Cascade (NYSE:BCC) Hits New 1-Year Low – Here’s What Happened

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Truist Financial set a $97.00 target price on Boise Cascade in a report on Wednesday, May 6th. The Goldman Sachs Group raised their target price 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 Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. DA Davidson dropped their target price on Boise Cascade from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. 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 and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $98.00.

Boise Cascade Stock Up 2.6%

The stock has a fifty day moving average price of $75.01 and a 200 day moving average price of $76.95. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.77 and a quick ratio of 1.37. The stock has a market capitalization of $2.36 billion, a P/E ratio of 22.62, a price-to-earnings-growth 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 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.07. The firm had revenue of $1.50 billion during 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 for the quarter was down 2.5% on a year-over-year basis. During the same period last year, the company earned $1.06 earnings per share. On average, research analysts forecast that Boise Cascade, L.L.C. will post 3.67 earnings per share for the current year.

Boise Cascade Dividend Announcement

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

Insider Transactions at Boise Cascade

In related news, SVP Jill Twedt sold 6,070 shares of Boise Cascade stock in a transaction on 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. This trade represents a 18.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.42% of the company’s stock.

Institutional Investors Weigh In On Boise Cascade

Several large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its stake in Boise Cascade by 19.8% during the third quarter. Wellington Management Group LLP now owns 3,268,407 shares of the construction company’s stock valued at $252,713,000 after buying an additional 539,962 shares during the period. Dimensional Fund Advisors LP lifted its stake in Boise Cascade by 2.0% during the first 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 stake in Boise Cascade by 0.3% during the fourth 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 Boise Cascade during the fourth quarter worth about $42,146,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Boise Cascade by 12.0% during the fourth 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. Institutional investors own 96.18% of the company’s stock.

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.