Boise Cascade, L.L.C. (NYSE:BCC) Sees Large Growth in Short Interest

Boise Cascade, L.L.C. (NYSE:BCC) saw a large increase in short interest during 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. Approximately 3.5% of the shares of the company are sold short. Based on an average daily trading volume, of 501,373 shares, the days-to-cover ratio is presently 2.5 days.

Institutional Investors Weigh In On Boise Cascade

Large investors have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC bought a new stake in shares of Boise Cascade during the 3rd quarter valued at $28,000. Caitong International Asset Management Co. Ltd increased its position in shares of Boise Cascade by 231.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock worth $29,000 after purchasing an additional 259 shares during the period. Fifth Third Bancorp raised 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 valued at $30,000 after purchasing an additional 179 shares in the last quarter. Hantz Financial Services Inc. raised 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 valued at $38,000 after purchasing an additional 450 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in Boise Cascade during the third quarter worth about $38,000. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Stock Performance

Boise Cascade stock traded up $0.18 during midday trading on Monday, hitting $74.61. The company’s stock had a trading volume of 131,590 shares, compared to its average volume of 440,358. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.36 and a quick ratio of 1.74. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 1.06 and a beta of 1.26. Boise Cascade has a 1-year low of $65.14 and a 1-year high of $102.09. The company has a 50-day moving average price of $80.51 and a two-hundred day moving average price of $76.96.

Boise Cascade Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Monday, February 23rd were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Monday, February 23rd. Boise Cascade’s payout ratio is presently 25.00%.

Analysts Set New Price Targets

BCC has been the topic of several research analyst reports. Weiss Ratings cut shares of Boise Cascade from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 13th. DA Davidson restated a “buy” rating and set a $95.00 price objective on shares of Boise Cascade in a report on Tuesday, February 24th. Wall Street Zen upgraded Boise Cascade from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. BMO Capital Markets reissued an “outperform” rating on shares of Boise Cascade in a report on Thursday, January 8th. Finally, The Goldman Sachs Group boosted their price target on Boise Cascade from $85.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Boise Cascade currently has an average rating of “Moderate Buy” and an average price target of $105.67.

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.