Kristopher Matula Sells 1,930 Shares of Boise Cascade (NYSE:BCC) Stock

Boise Cascade, L.L.C. (NYSE:BCC) Director Kristopher Matula sold 1,930 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total transaction of $163,239.40. Following the sale, the director directly owned 13,982 shares in the company, valued at approximately $1,182,597.56. This represents a 12.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Boise Cascade Trading Up 2.9%

Shares of NYSE BCC opened at $86.74 on Friday. Boise Cascade, L.L.C. has a 1-year low of $65.00 and a 1-year high of $91.97. The company has a market cap of $3.03 billion, a PE ratio of 29.40, a P/E/G ratio of 1.13 and a beta of 1.10. The company has a current ratio of 2.71, a quick ratio of 1.37 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average of $75.35 and a two-hundred day moving average of $76.98.

Boise Cascade (NYSE:BCC) last announced its earnings results on Monday, August 3rd. The construction company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.40. Boise Cascade had a net margin of 1.64% and a return on equity of 5.41%. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the business earned $1.64 earnings per share. Boise Cascade’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities analysts expect that Boise Cascade, L.L.C. will post 3.86 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.92 annualized dividend and a yield of 1.1%. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.22. Boise Cascade’s dividend payout ratio (DPR) is currently 29.83%.

Institutional Trading of Boise Cascade

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of Boise Cascade in the 2nd quarter valued at $463,729,000. Deutsche Bank AG acquired a new stake in shares of Boise Cascade during the second quarter worth $2,920,000. Bank of New York Mellon Corp bought a new stake in Boise Cascade in the second quarter valued at about $18,194,000. State of Wyoming bought a new stake in Boise Cascade in the second quarter valued at about $283,000. Finally, GSA Capital Partners LLP acquired a new position in Boise Cascade in the second quarter valued at about $453,000. Institutional investors own 96.18% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on BCC. The Goldman Sachs Group lifted their target price on Boise Cascade from $81.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday. Wall Street Zen raised Boise Cascade from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Research upgraded Boise Cascade from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. Weiss Ratings cut Boise Cascade from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Finally, Bank of America upped their target price on shares of Boise Cascade from $80.00 to $81.00 and gave the company an “underperform” rating in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $93.60.

Boise Cascade Company Profile

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.