Boise Cascade (NYSE:BCC) SVP Sells $403,351.50 in Stock

Boise Cascade, L.L.C. (NYSE:BCC) SVP Jill Twedt sold 6,070 shares of Boise Cascade stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $66.45, for a total value of $403,351.50. Following the completion of the transaction, the senior vice president directly owned 26,545 shares of the company’s stock, valued at $1,763,915.25. This represents a 18.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Boise Cascade Stock Down 5.0%

Shares of NYSE BCC opened at $65.94 on Friday. Boise Cascade, L.L.C. has a 12-month low of $65.14 and a 12-month high of $95.00. The firm’s 50-day simple moving average is $75.40 and its 200 day simple moving average is $76.99. The company has a quick ratio of 1.37, a current ratio of 2.77 and a debt-to-equity ratio of 0.24. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 0.99 and a beta of 1.15.

Boise Cascade (NYSE:BCC) last announced its earnings results on Monday, May 4th. The construction company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.07. Boise Cascade had a net margin of 1.73% and a return on equity of 5.55%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the firm posted $1.06 earnings per share. The company’s revenue was down 2.5% on a year-over-year basis. On average, research analysts expect that Boise Cascade, L.L.C. will post 3.67 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Monday, June 1st. Boise Cascade’s payout ratio is currently 29.73%.

Hedge Funds Weigh In On Boise Cascade

Institutional investors have recently modified their holdings of the business. Wellington Management Group LLP raised its stake in Boise Cascade by 19.8% during the third quarter. Wellington Management Group LLP now owns 3,268,407 shares of the construction company’s stock worth $252,713,000 after acquiring an additional 539,962 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Boise Cascade by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,325,781 shares of the construction company’s stock valued at $176,410,000 after acquiring an additional 46,561 shares during the last quarter. State Street Corp lifted its stake in shares of Boise Cascade by 0.3% in the fourth quarter. State Street Corp now owns 1,472,071 shares of the construction company’s stock worth $108,344,000 after acquiring an additional 3,817 shares during the period. Norges Bank acquired a new stake in Boise Cascade during the 4th quarter valued at approximately $42,146,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Boise Cascade by 12.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 507,108 shares of the construction company’s stock worth $37,323,000 after acquiring an additional 54,279 shares during the period. Institutional investors and hedge funds own 96.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on BCC shares. Wall Street Zen upgraded shares of Boise Cascade from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. DA Davidson cut their price objective on shares of Boise Cascade from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. The Goldman Sachs Group increased their price target on Boise Cascade from $85.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. Zacks Research raised shares of Boise Cascade from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Finally, Truist Financial set a $97.00 target price on Boise Cascade in a report on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $98.00.

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.