Boise Cascade (NYSE:BCC) Reaches New 52-Week Low on Insider Selling

Boise Cascade (NYSE:BCC) hit a new 52-week low during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $102.17 and last traded at $102.71, with a volume of 22958 shares trading hands. The stock had previously closed at $104.07.

Specifically, Director Kristopher J. Matula sold 553 shares of Boise Cascade stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total transaction of $57,047.48. Following the completion of the sale, the director now directly owns 13,099 shares in the company, valued at $1,351,292.84. The trade was a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BCC. Benchmark reiterated a “hold” rating on shares of Boise Cascade in a report on Tuesday. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. BMO Capital Markets lowered their price target on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a report on Tuesday. DA Davidson lowered their price target on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a report on Monday. Finally, The Goldman Sachs Group decreased their target price on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $128.50.

Boise Cascade Trading Down 1.3 %

The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of 10.71 and a beta of 1.57. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92. The business’s 50-day simple moving average is $121.52 and its two-hundred day simple moving average is $131.84.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. On average, research analysts anticipate that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.82%. Boise Cascade’s dividend payout ratio (DPR) is 8.79%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Westwood Holdings Group Inc. lifted its position in shares of Boise Cascade by 3.9% during the fourth quarter. Westwood Holdings Group Inc. now owns 1,192,621 shares of the construction company’s stock worth $141,755,000 after purchasing an additional 45,010 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Boise Cascade by 12.0% during the fourth quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock worth $134,831,000 after purchasing an additional 121,790 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Boise Cascade by 37.9% during the fourth quarter. First Trust Advisors LP now owns 712,527 shares of the construction company’s stock worth $84,691,000 after purchasing an additional 195,773 shares in the last quarter. Northern Trust Corp lifted its position in shares of Boise Cascade by 17.8% during the fourth quarter. Northern Trust Corp now owns 483,165 shares of the construction company’s stock worth $57,429,000 after purchasing an additional 73,061 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Boise Cascade during the fourth quarter worth $55,680,000. 96.18% of the stock is owned by institutional investors and hedge funds.

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.