Boise Cascade (NYSE:BCC) Reaches New 52-Week Low – Here’s What Happened

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

Analyst Ratings Changes

A number of brokerages recently commented on BCC. BMO Capital Markets dropped their price objective on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a report on Tuesday, February 25th. Benchmark reaffirmed a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. Truist Financial dropped their target price 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. Loop Capital reduced their price target on Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Finally, The Goldman Sachs Group decreased their price target on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $128.50.

Boise Cascade Trading Down 0.6 %

The company has a market cap of $3.71 billion, a P/E ratio of 10.23 and a beta of 1.67. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average price of $112.29 and a 200-day moving average price of $127.39.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.01). The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. Analysts forecast 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 was paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date was Monday, February 24th. Boise Cascade’s dividend payout ratio (DPR) is presently 8.79%.

Insider Buying and Selling at Boise Cascade

In related news, COO Jeffrey Robert Strom sold 4,500 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total value of $450,945.00. Following the transaction, the chief operating officer now owns 38,026 shares in the company, valued at approximately $3,810,585.46. This represents a 10.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kristopher J. Matula sold 553 shares of the business’s stock in a transaction 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 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 disclosure for this sale can be found here. Corporate insiders own 0.98% of the company’s stock.

Institutional Trading of Boise Cascade

A number of institutional investors have recently bought and sold shares of the business. Westwood Holdings Group Inc. increased its holdings 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 during the period. American Century Companies Inc. increased its stake in Boise Cascade by 12.0% during the 4th quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock worth $134,831,000 after acquiring an additional 121,790 shares during the period. First Trust Advisors LP raised its holdings in Boise Cascade by 37.9% in the 4th quarter. First Trust Advisors LP now owns 712,527 shares of the construction company’s stock valued at $84,691,000 after acquiring 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 4th quarter. Northern Trust Corp now owns 483,165 shares of the construction company’s stock valued at $57,429,000 after acquiring an additional 73,061 shares during the period. Finally, Norges Bank acquired a new stake in shares of Boise Cascade during the 4th quarter worth $55,680,000. Institutional investors own 96.18% of the company’s stock.

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.