Boise Cascade (NYSE:BCC) Declares $0.20 Quarterly Dividend

Boise Cascade (NYSE:BCC) announced a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Stockholders of record on Monday, June 3rd will be paid a dividend of 0.20 per share by the construction company on Monday, June 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Monday, June 3rd.

Boise Cascade has increased its dividend by an average of 20.5% annually over the last three years and has increased its dividend every year for the last 3 years. Boise Cascade has a payout ratio of 6.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Boise Cascade to earn $12.19 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 6.6%.

Boise Cascade Trading Up 1.2 %

Shares of NYSE:BCC opened at $136.11 on Friday. Boise Cascade has a 12-month low of $66.82 and a 12-month high of $154.67. The stock has a market cap of $5.38 billion, a PE ratio of 11.23 and a beta of 1.64. The business has a 50 day moving average of $140.20 and a 200-day moving average of $126.97. The company has a quick ratio of 2.26, a current ratio of 3.46 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Wednesday, February 21st. The construction company reported $2.44 earnings per share (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 the consensus estimate of $1.64 billion. During the same quarter in the prior year, the firm earned $2.95 EPS. The company’s revenue was up 1.0% on a year-over-year basis. As a group, equities research analysts forecast that Boise Cascade will post 11.44 earnings per share for the current year.

Insider Buying and Selling at Boise Cascade

In other Boise Cascade news, EVP Dean Michael Brown sold 11,117 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 40,237 shares in the company, valued at $5,596,564.33. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.98% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.