Boise Cascade (NYSE:BCC) Issues Quarterly Earnings Results

Boise Cascade (NYSE:BCC) posted its quarterly earnings data on Monday. The construction company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.08, FiscalAI reports. Boise Cascade had a net margin of 2.96% and a return on equity of 9.00%. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.45 billion.

Boise Cascade Stock Down 1.4%

BCC traded down $1.18 on Monday, reaching $80.95. The company’s stock had a trading volume of 875,408 shares, compared to its average volume of 392,710. Boise Cascade has a 1 year low of $65.14 and a 1 year high of $108.43. The business’s 50 day moving average is $81.34 and its 200 day moving average is $78.86. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.10 and a quick ratio of 1.69. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 16.00 and a beta of 1.27.

Boise Cascade Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Monday, February 23rd will be issued a $0.22 dividend. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $0.88 dividend on an annualized basis and a yield of 1.1%. Boise Cascade’s dividend payout ratio is currently 17.39%.

Analysts Set New Price Targets

BCC has been the subject of a number of research analyst reports. Truist Financial upped their price objective on Boise Cascade from $88.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. DA Davidson reissued a “buy” rating and set a $95.00 price target on shares of Boise Cascade in a research report on Thursday, November 20th. BMO Capital Markets restated an “outperform” rating on shares of Boise Cascade in a report on Thursday, January 8th. Finally, Weiss Ratings raised Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 28th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.83.

Hedge Funds Weigh In On Boise Cascade

Several institutional investors and hedge funds have recently made changes to their positions in BCC. Caitong International Asset Management Co. Ltd grew its position in shares of Boise Cascade by 231.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock worth $29,000 after buying an additional 259 shares in the last quarter. Advisory Services Network LLC acquired a new position in Boise Cascade during the 3rd quarter worth $38,000. UMB Bank n.a. increased its position in shares of Boise Cascade by 98.5% in the 4th quarter. UMB Bank n.a. now owns 524 shares of the construction company’s stock worth $39,000 after purchasing an additional 260 shares during the last quarter. iSAM Funds UK Ltd bought a new stake in shares of Boise Cascade in the 3rd quarter worth about $44,000. Finally, CIBC Private Wealth Group LLC raised its stake in shares of Boise Cascade by 662.4% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 648 shares of the construction company’s stock valued at $50,000 after purchasing an additional 563 shares in the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Boise Cascade Company Profile

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.