Boise Cascade (NYSE:BCC) Hits New 1-Year Low – Here’s What Happened

Shares of Boise Cascade, L.L.C. (NYSE:BCC) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $65.00 and last traded at $66.4690, with a volume of 20747 shares. The stock had previously closed at $65.47.

Wall Street Analysts Forecast Growth

BCC has been the subject of several research analyst reports. Zacks Research raised Boise Cascade from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Weiss Ratings raised Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. Truist Financial set a $97.00 price target on Boise Cascade in a research note on Wednesday, May 6th. The Goldman Sachs Group lifted their price target on Boise Cascade from $85.00 to $94.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. Finally, Wall Street Zen raised Boise Cascade from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Boise Cascade currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.00.

Boise Cascade Stock Performance

The stock has a market cap of $2.36 billion, a PE ratio of 22.62, a P/E/G ratio of 1.01 and a beta of 1.15. The company has a fifty day moving average price of $75.01 and a 200 day moving average price of $76.95. The company has a quick ratio of 1.37, a current ratio of 2.77 and a debt-to-equity ratio of 0.24.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data on Monday, May 4th. The construction company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.43 by $0.07. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.46 billion. Boise Cascade had a return on equity of 5.55% and a net margin of 1.73%.The company’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.06 earnings per share. Analysts expect that Boise Cascade, L.L.C. will post 3.67 earnings per share for the current year.

Boise Cascade Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Monday, June 1st will be issued a $0.22 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.88 annualized dividend and a dividend yield of 1.3%. Boise Cascade’s payout ratio is currently 29.73%.

Insider Activity at Boise Cascade

In other news, SVP Jill Twedt sold 6,070 shares of Boise Cascade stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $66.45, for a total value of $403,351.50. Following the transaction, the senior vice president owned 26,545 shares in the company, valued at approximately $1,763,915.25. The trade was a 18.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.42% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Cerity Partners LLC grew its stake in shares of Boise Cascade by 3.8% in the 2nd quarter. Cerity Partners LLC now owns 3,274 shares of the construction company’s stock worth $284,000 after buying an additional 121 shares during the last quarter. Raymond James Financial Inc. grew its stake in shares of Boise Cascade by 1.0% in the 2nd quarter. Raymond James Financial Inc. now owns 13,219 shares of the construction company’s stock worth $1,148,000 after buying an additional 126 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Boise Cascade by 6.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,726 shares of the construction company’s stock worth $211,000 after buying an additional 158 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Boise Cascade by 1.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 9,013 shares of the construction company’s stock worth $663,000 after buying an additional 163 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of Boise Cascade by 0.8% in the 4th quarter. State of Alaska Department of Revenue now owns 21,171 shares of the construction company’s stock worth $1,558,000 after buying an additional 164 shares during the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

About Boise Cascade

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company’s operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.