Short Interest in Boise Cascade, L.L.C. (NYSE:BCC) Rises By 26.1%

Boise Cascade, L.L.C. (NYSE:BCC) saw a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 1,229,423 shares, an increase of 26.1% from the February 26th total of 974,608 shares. Based on an average daily volume of 501,373 shares, the days-to-cover ratio is presently 2.5 days. Currently, 3.5% of the shares of the company are sold short.

Boise Cascade Price Performance

Shares of NYSE:BCC traded up $0.87 on Tuesday, hitting $75.82. The stock had a trading volume of 345,676 shares, compared to its average volume of 485,083. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 1.07 and a beta of 1.26. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.74 and a current ratio of 3.36. The firm’s 50 day moving average price is $80.13 and its 200-day moving average price is $76.79. Boise Cascade has a twelve month low of $65.14 and a twelve month high of $102.09.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Monday, February 23rd were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, February 23rd. Boise Cascade’s dividend payout ratio is currently 25.00%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Salomon & Ludwin LLC acquired a new position in shares of Boise Cascade in the 3rd quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd raised its position in Boise Cascade by 231.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock valued at $29,000 after purchasing an additional 259 shares during the last quarter. Fifth Third Bancorp boosted its stake in Boise Cascade by 77.5% in the fourth quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock worth $30,000 after purchasing an additional 179 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in Boise Cascade by 1,071.4% in the third quarter. Hantz Financial Services Inc. now owns 492 shares of the construction company’s stock worth $38,000 after purchasing an additional 450 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in shares of Boise Cascade during the third quarter worth $38,000. Institutional investors own 96.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. Truist Financial upped their price target on Boise Cascade from $92.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. DA Davidson reiterated a “buy” rating and issued a $95.00 price objective on shares of Boise Cascade in a research report on Tuesday, February 24th. The Goldman Sachs Group lifted their price objective on Boise Cascade from $85.00 to $94.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. Finally, Wall Street Zen upgraded Boise Cascade from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.67.

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.