Boise Cascade (NYSE:BCC) Director Sells $57,047.48 in Stock

Boise Cascade (NYSE:BCC) Director Kristopher J. Matula sold 553 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total value of $57,047.48. Following the completion of the sale, the director now owns 13,099 shares of the company’s stock, valued at $1,351,292.84. This trade represents a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Boise Cascade Trading Down 2.3 %

Shares of BCC stock traded down $2.40 during trading hours on Wednesday, reaching $104.03. 457,734 shares of the stock traded hands, compared to its average volume of 318,520. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $3.95 billion, a PE ratio of 10.88 and a beta of 1.57. Boise Cascade has a 1-year low of $102.27 and a 1-year high of $155.42. The business has a fifty day moving average price of $121.97 and a 200 day moving average price of $132.03.

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

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.81%. Boise Cascade’s dividend payout ratio is 8.79%.

Institutional Trading of Boise Cascade

A number of hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC increased its stake in Boise Cascade by 341.9% in the 3rd quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock valued at $2,229,000 after buying an additional 12,231 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Boise Cascade by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock worth $61,680,000 after acquiring an additional 9,128 shares during the last quarter. Fulcrum Capital LLC acquired a new position in shares of Boise Cascade in the fourth quarter worth $1,092,000. Nordea Investment Management AB boosted its position in Boise Cascade by 5.0% during the fourth 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 during the last quarter. Finally, Barclays PLC grew its stake in Boise Cascade by 174.1% in the third quarter. Barclays PLC now owns 90,366 shares of the construction company’s stock valued at $12,739,000 after purchasing an additional 57,403 shares in the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BCC shares. Truist Financial cut their price objective on Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a report on Monday. Benchmark restated a “hold” rating on shares of Boise Cascade in a research report on Tuesday. The Goldman Sachs Group dropped their target price on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Loop Capital reduced their target price on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a report on Monday. Finally, DA Davidson dropped their price target on Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a report on Monday. 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $128.50.

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.