Boise Cascade (NYSE:BCC) Hits New 12-Month Low – Time to Sell?

Boise Cascade, L.L.C. (NYSE:BCC)’s share price reached a new 52-week low on Wednesday . The stock traded as low as $65.14 and last traded at $66.2570, with a volume of 45489 shares traded. The stock had previously closed at $66.07.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BCC. The Goldman Sachs Group decreased their target price on Boise Cascade from $96.00 to $82.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. BMO Capital Markets raised shares of Boise Cascade from a “market perform” rating to an “outperform” rating and set a $100.00 price target for the company in a research note on Wednesday, November 5th. DA Davidson lowered their price objective on shares of Boise Cascade from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Wall Street Zen lowered shares of Boise Cascade from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Boise Cascade in a research note on Thursday, November 13th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Boise Cascade has an average rating of “Moderate Buy” and an average target price of $102.50.

Boise Cascade Stock Performance

The company has a market cap of $2.45 billion, a P/E ratio of 13.06, a price-to-earnings-growth ratio of 5.51 and a beta of 1.27. The company’s fifty day moving average is $74.53 and its 200 day moving average is $83.01. The company has a current ratio of 3.10, a quick ratio of 1.69 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Monday, November 3rd. The construction company reported $0.58 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.58. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Boise Cascade had a return on equity of 9.00% and a net margin of 2.96%.The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the firm earned $2.33 earnings per share. As a group, equities analysts predict that Boise Cascade, L.L.C. will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Monday, December 1st will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, December 1st. Boise Cascade’s payout ratio is 17.39%.

Insiders Place Their Bets

In other news, COO Jeffrey Robert Strom sold 1,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $91.06, for a total transaction of $91,060.00. Following the completion of the sale, the chief operating officer owned 37,026 shares of the company’s stock, valued at approximately $3,371,587.56. This represents a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.11% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Cerity Partners LLC lifted its stake in shares of Boise Cascade by 3.8% during the 2nd quarter. Cerity Partners LLC now owns 3,274 shares of the construction company’s stock valued at $284,000 after buying an additional 121 shares in the last quarter. Raymond James Financial Inc. grew its position in shares of Boise Cascade by 1.0% during the second quarter. Raymond James Financial Inc. now owns 13,219 shares of the construction company’s stock worth $1,148,000 after purchasing an additional 126 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in Boise Cascade by 2.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 6,860 shares of the construction company’s stock valued at $596,000 after purchasing an additional 152 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in Boise Cascade by 5.7% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,800 shares of the construction company’s stock worth $243,000 after purchasing an additional 152 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Boise Cascade by 6.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,726 shares of the construction company’s stock worth $211,000 after purchasing an additional 158 shares during the period. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Company Profile

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.