Boise Cascade, L.L.C. (NYSE:BCC) Given Average Rating of “Hold” by Analysts

Boise Cascade, L.L.C. (NYSE:BCC) has been given a consensus rating of “Hold” by the seven brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $93.60.

A number of equities research analysts have issued reports on BCC shares. DA Davidson upped their price target on shares of Boise Cascade from $92.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. The Goldman Sachs Group lifted their price objective on Boise Cascade from $81.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Weiss Ratings raised Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Wall Street Zen upgraded Boise Cascade from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Truist Financial set a $97.00 target price on Boise Cascade in a report on Wednesday, May 6th.

Insider Buying and Selling at Boise Cascade

In other news, Director Kristopher J. Matula sold 1,930 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total value of $163,239.40. Following the completion of the sale, the director directly owned 13,982 shares of the company’s stock, valued at approximately $1,182,597.56. This represents a 12.13% 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 this hyperlink. Corporate insiders own 1.42% of the company’s stock.

Hedge Funds Weigh In On Boise Cascade

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of Boise Cascade in the second quarter valued at $463,729,000. Norges Bank bought a new position in Boise Cascade in the fourth quarter worth $42,146,000. Wellington Management Group LLP boosted 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 buying an additional 539,962 shares in the last quarter. Atlas FRM LLC acquired a new stake in Boise Cascade during the second quarter worth $34,545,350,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Boise Cascade by 214,282.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 420,189 shares of the construction company’s stock valued at $30,926,000 after buying an additional 419,993 shares during the period. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Boise Cascade Price Performance

Shares of BCC opened at $83.10 on Thursday. The firm has a market cap of $2.90 billion, a PE ratio of 28.17, a PEG ratio of 1.08 and a beta of 1.10. The firm’s 50 day moving average price is $77.68 and its 200 day moving average price is $76.94. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.31 and a current ratio of 2.71. Boise Cascade has a twelve month low of $65.00 and a twelve month high of $91.97.

Boise Cascade (NYSE:BCC) last posted its earnings results on Monday, August 3rd. The construction company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.23 by $0.40. Boise Cascade had a net margin of 1.64% and a return on equity of 5.41%. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the firm posted $1.64 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, research analysts expect that Boise Cascade will post 3.86 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from Boise Cascade’s previous quarterly dividend of $0.22. The ex-dividend date is Tuesday, September 1st. Boise Cascade’s dividend payout ratio is presently 29.83%.

About Boise Cascade

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.