Boise Cascade (NYSE:BCC) Sets New 52-Week Low – Here’s Why

Boise Cascade (NYSE:BCC) shares hit a new 52-week low on Monday . The company traded as low as $95.30 and last traded at $96.77, with a volume of 9723 shares trading hands. The stock had previously closed at $98.30.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. BMO Capital Markets dropped their target price on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a research report on Tuesday, February 25th. The Goldman Sachs Group cut their target price on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Truist Financial lowered their price target on Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Benchmark reiterated a “hold” rating on shares of Boise Cascade in a report on Tuesday, February 25th. Finally, Loop Capital reduced their price objective on Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Boise Cascade presently has a consensus rating of “Hold” and a consensus price target of $128.50.

Boise Cascade Trading Up 0.6 %

The firm’s 50-day simple moving average is $111.07 and its 200-day simple moving average is $126.93. The firm has a market capitalization of $3.74 billion, a PE ratio of 10.32 and a beta of 1.67. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last issued its earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.01). The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. Equities analysts expect that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, February 24th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Monday, February 24th. Boise Cascade’s payout ratio is 8.79%.

Insider Activity at Boise Cascade

In related news, COO Jeffrey Robert Strom sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total value of $450,945.00. Following the sale, the chief operating officer now directly owns 38,026 shares of the company’s stock, valued at $3,810,585.46. This trade represents a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kristopher J. Matula sold 553 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total value of $57,047.48. Following the transaction, the director now directly owns 13,099 shares of the company’s stock, valued at $1,351,292.84. The trade was a 4.05 % decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Boise Cascade

A number of large investors have recently made changes to their positions in the business. Tidal Investments LLC lifted its stake in Boise Cascade by 341.9% in the third quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock worth $2,229,000 after acquiring an additional 12,231 shares during the period. Fulcrum Capital LLC bought a new position in Boise Cascade in the 4th quarter worth $1,092,000. D.A. Davidson & CO. raised its holdings in Boise Cascade by 4.2% in the 4th quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company’s stock worth $388,000 after purchasing an additional 133 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Boise Cascade by 5.0% during the 4th quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company’s stock valued at $14,454,000 after purchasing an additional 5,779 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Boise Cascade by 174.1% during the third quarter. Barclays PLC now owns 90,366 shares of the construction company’s stock valued at $12,739,000 after buying an additional 57,403 shares during the period. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Company Profile

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.