Boise Cascade (NYSE:BCC) Trading Down 4.9%

Boise Cascade (NYSE:BCC) shares were down 4.9% on Tuesday . The company traded as low as $138.79 and last traded at $141.67. Approximately 103,040 shares were traded during trading, a decline of 64% from the average daily volume of 289,675 shares. The stock had previously closed at $149.00.

Analyst Upgrades and Downgrades

BCC has been the topic of several research analyst reports. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. The Goldman Sachs Group raised their target price on Boise Cascade from $114.00 to $129.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Finally, Truist Financial boosted their price target on Boise Cascade from $156.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $125.00.

Boise Cascade Price Performance

The firm has a 50 day moving average of $140.18 and a 200-day moving average of $123.66. The company has a current ratio of 3.46, a quick ratio of 2.26 and a debt-to-equity ratio of 0.22. The company has a market cap of $5.48 billion, a P/E ratio of 11.56 and a beta of 1.60.

Boise Cascade (NYSE:BCC) last posted its earnings results on Wednesday, February 21st. The construction company reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($0.01). The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Boise Cascade had a net margin of 7.07% and a return on equity of 21.94%. The business’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.95 earnings per share. On average, equities research analysts predict that Boise Cascade will post 11.58 EPS for the current year.

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 23rd were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.58%. Boise Cascade’s dividend payout ratio is currently 6.60%.

Insider Buying and Selling at Boise Cascade

In related news, EVP Dean Michael Brown sold 11,117 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $139.09, for a total value of $1,546,263.53. Following the sale, the executive vice president now owns 40,237 shares in the company, valued at $5,596,564.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.05% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Boise Cascade

Large investors have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. purchased a new position in Boise Cascade during the third quarter worth $2,682,000. DekaBank Deutsche Girozentrale lifted its stake in Boise Cascade by 54.2% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 58,919 shares of the construction company’s stock worth $7,596,000 after purchasing an additional 20,712 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Boise Cascade by 23.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,241 shares of the construction company’s stock valued at $952,000 after buying an additional 1,772 shares during the period. Hsbc Holdings PLC grew its stake in shares of Boise Cascade by 312.5% during the third quarter. Hsbc Holdings PLC now owns 30,893 shares of the construction company’s stock valued at $3,225,000 after buying an additional 23,404 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Boise Cascade by 361.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,629 shares of the construction company’s stock valued at $1,095,000 after buying an additional 8,328 shares during the last quarter. 96.18% of the stock is owned by 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.