Boise Cascade (NYSE:BCC) Trading Down 11%

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Shares of Boise Cascade (NYSE:BCC) were down 11% during mid-day trading on Tuesday . The company traded as low as $45.84 and last traded at $46.34. Approximately 1,173,313 shares were traded during trading, an increase of 223% from the average daily volume of 362,963 shares. The stock had previously closed at $52.06.

BCC has been the subject of a number of research analyst reports. Zacks Investment Research raised Boise Cascade from a “strong sell” rating to a “strong-buy” rating and set a $56.00 target price for the company in a research report on Wednesday, January 6th. DA Davidson reaffirmed a “neutral” rating on shares of Boise Cascade in a research report on Monday, January 18th. Finally, Benchmark raised Boise Cascade from a “hold” rating to a “buy” rating and lifted their target price for the company from $44.00 to $47.00 in a research report on Friday, October 30th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Boise Cascade currently has an average rating of “Buy” and an average target price of $50.50.

The company has a 50 day moving average of $50.29 and a two-hundred day moving average of $45.28. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.42 and a current ratio of 2.09. The stock has a market capitalization of $1.82 billion, a PE ratio of 11.09, a P/E/G ratio of 1.29 and a beta of 2.13.

Boise Cascade (NYSE:BCC) last announced its earnings results on Sunday, February 21st. The construction company reported $1.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.68. Boise Cascade had a return on equity of 25.51% and a net margin of 3.21%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the business earned $0.37 EPS. The firm’s revenue for the quarter was up 32.9% on a year-over-year basis. As a group, research analysts predict that Boise Cascade will post 5.6 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 15th. Investors of record on Monday, February 22nd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, February 19th. This represents a $0.40 annualized dividend and a yield of 0.86%. Boise Cascade’s dividend payout ratio (DPR) is 19.14%.

In other Boise Cascade news, EVP Dean Michael Brown sold 1,000 shares of the business’s stock in a transaction dated Monday, December 7th. The stock was sold at an average price of $44.48, for a total transaction of $44,480.00. Following the sale, the executive vice president now owns 33,260 shares in the company, valued at approximately $1,479,404.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.40% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Truist Financial Corp boosted its stake in shares of Boise Cascade by 12.4% in the fourth quarter. Truist Financial Corp now owns 21,647 shares of the construction company’s stock worth $1,035,000 after buying an additional 2,387 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Boise Cascade in the fourth quarter worth about $695,000. Canada Pension Plan Investment Board acquired a new position in Boise Cascade in the 4th quarter worth about $1,162,000. Squarepoint Ops LLC raised its holdings in Boise Cascade by 74.1% in the 4th quarter. Squarepoint Ops LLC now owns 50,157 shares of the construction company’s stock worth $2,398,000 after purchasing an additional 21,348 shares during the period. Finally, Morgan Stanley raised its holdings in shares of Boise Cascade by 91.0% during the fourth quarter. Morgan Stanley now owns 198,141 shares of the construction company’s stock valued at $9,470,000 after acquiring an additional 94,393 shares during the last quarter. Hedge funds and other institutional investors own 93.80% of the company’s stock.

Boise Cascade Company Profile (NYSE:BCC)

Boise Cascade Company manufactures wood products and distributes building materials in the United States and Canada. It operates in 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; and structural, appearance, and industrial plywood panels.

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