Boise Cascade (NYSE:BCC) Earns Hold Rating from Benchmark

Benchmark reissued their hold rating on shares of Boise Cascade (NYSE:BCC) in a research note issued to investors on Tuesday,Benzinga reports.

BCC has been the subject of several other reports. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. DA Davidson decreased their target price on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a research report on Monday. Loop Capital decreased their price objective on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a report on Monday. Truist Financial decreased their price objective on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a report on Monday. Finally, The Goldman Sachs Group decreased their price objective on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $128.50.

Boise Cascade Stock Down 1.3 %

NYSE BCC opened at $102.71 on Tuesday. 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 company’s 50 day simple moving average is $121.11 and its 200 day simple moving average is $131.63. Boise Cascade has a 12 month low of $102.17 and a 12 month high of $155.42. The company has a market capitalization of $3.90 billion, a P/E ratio of 10.74 and a beta of 1.57.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data 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 during 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%. Equities research analysts expect that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

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

Insiders Place Their Bets

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of Boise Cascade stock in a transaction on 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.98% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BCC. Harbor Capital Advisors Inc. acquired a new position in Boise Cascade in the third quarter valued at about $28,000. R Squared Ltd acquired a new position in Boise Cascade during the fourth quarter worth about $29,000. Quarry LP raised its stake in Boise Cascade by 502.4% during the fourth quarter. Quarry LP now owns 253 shares of the construction company’s stock worth $30,000 after acquiring an additional 211 shares in the last quarter. Larson Financial Group LLC raised its stake in Boise Cascade by 23.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock worth $53,000 after acquiring an additional 73 shares in the last quarter. Finally, Principal Securities Inc. raised its stake in Boise Cascade by 44.2% during the fourth quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock worth $56,000 after acquiring an additional 145 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

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.