Boise Cascade (NYSE:BCC) Trading Down 4.9%

Boise Cascade (NYSE:BCC)’s share price traded down 4.9% during mid-day trading on Tuesday . The company traded as low as $138.79 and last traded at $141.67. 103,040 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 289,675 shares. The stock had previously closed at $149.00.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Truist Financial boosted their target price on shares of Boise Cascade from $156.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, March 21st. The Goldman Sachs Group boosted their target price on shares of Boise Cascade from $114.00 to $129.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Finally, StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $125.00.

Boise Cascade Trading Down 0.7 %

The business’s 50-day moving average price is $140.34 and its 200 day moving average price is $124.01. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.46 and a quick ratio of 2.26. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 11.38 and a beta of 1.60.

Boise Cascade (NYSE:BCC) last posted its earnings results on Wednesday, February 21st. The construction company reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($0.01). Boise Cascade had a return on equity of 21.94% and a net margin of 7.07%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same period in the previous year, the firm posted $2.95 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities analysts forecast that Boise Cascade will post 11.58 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 23rd were given a dividend of $0.20 per share. The ex-dividend date was Thursday, February 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.58%. Boise Cascade’s payout ratio is currently 6.60%.

Insider Transactions at Boise Cascade

In other news, EVP Dean Michael Brown sold 11,117 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $139.09, for a total transaction of $1,546,263.53. Following the transaction, the executive vice president now directly owns 40,237 shares of the company’s stock, valued at $5,596,564.33. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.05% of the company’s stock.

Institutional Trading of Boise Cascade

Several institutional investors have recently added to or reduced their stakes in BCC. Neo Ivy Capital Management acquired a new stake in Boise Cascade in the second quarter valued at $25,000. USA Financial Formulas raised its holdings in Boise Cascade by 5,050.0% in the fourth quarter. USA Financial Formulas now owns 206 shares of the construction company’s stock valued at $27,000 after acquiring an additional 202 shares in the last quarter. Principal Securities Inc. acquired a new stake in Boise Cascade in the fourth quarter valued at $27,000. Global Retirement Partners LLC raised its holdings in Boise Cascade by 1,147.1% in the fourth quarter. Global Retirement Partners LLC now owns 212 shares of the construction company’s stock valued at $28,000 after acquiring an additional 195 shares in the last quarter. Finally, Scarborough Advisors LLC acquired a new stake in Boise Cascade in the fourth quarter valued at $36,000. 96.18% of the stock is owned by institutional investors and hedge funds.

About Boise Cascade

Boise Cascade Company engages in manufacture of wood products and distribution of building materials in the United States and Canada. It operates through 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; structural, appearance, and industrial plywood panels; and ponderosa pine shop lumber and appearance grade boards.