Boise Cascade (NYSE:BCC) Plans Quarterly Dividend of $0.20

Boise Cascade (NYSE:BCC) announced a quarterly dividend on Friday, May 3rd, Wall Street Journal reports. Shareholders of record on Monday, June 3rd will be paid a dividend of 0.20 per share by the construction company on Monday, June 17th. This represents a $0.80 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Monday, June 3rd.

Boise Cascade has raised its dividend payment by an average of 20.5% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Boise Cascade has a payout ratio of 6.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Boise Cascade to earn $12.19 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 6.6%.

Boise Cascade Trading Up 1.2 %

Shares of NYSE:BCC traded up $1.63 during trading on Friday, reaching $136.11. The stock had a trading volume of 328,037 shares, compared to its average volume of 295,876. The business has a fifty day moving average price of $140.20 and a 200-day moving average price of $126.97. The company has a quick ratio of 2.26, a current ratio of 3.46 and a debt-to-equity ratio of 0.22. The stock has a market cap of $5.38 billion, a P/E ratio of 11.23 and a beta of 1.64. Boise Cascade has a fifty-two week low of $66.82 and a fifty-two week high of $154.67.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Wednesday, February 21st. The construction company reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($0.01). The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.64 billion. Boise Cascade had a net margin of 7.07% and a return on equity of 21.94%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.95 EPS. As a group, analysts anticipate that Boise Cascade will post 11.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity at Boise Cascade

In related news, EVP Dean Michael Brown sold 11,117 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $139.09, for a total transaction of $1,546,263.53. Following the completion of the sale, the executive vice president now directly owns 40,237 shares of the company’s stock, valued at approximately $5,596,564.33. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.98% of the company’s stock.

About Boise Cascade

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.