Boise Cascade, L.L.C. (NYSE:BCC) Short Interest Update

Boise Cascade, L.L.C. (NYSE:BCC) was the recipient of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 1,229,423 shares, a growth of 26.1% from the February 26th total of 974,608 shares. Currently, 3.5% of the company’s stock are sold short. Based on an average trading volume of 501,373 shares, the days-to-cover ratio is presently 2.5 days.

Wall Street Analyst Weigh In

BCC has been the subject of a number of recent research reports. Truist Financial upped their price objective on shares of Boise Cascade from $92.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. The Goldman Sachs Group upped their target price on Boise Cascade from $85.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Boise Cascade in a report on Thursday, January 8th. DA Davidson reiterated a “buy” rating and issued a $95.00 target price on shares of Boise Cascade in a research note on Tuesday, February 24th. Finally, Wall Street Zen upgraded shares of Boise Cascade from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Boise Cascade has an average rating of “Moderate Buy” and a consensus price target of $105.67.

Boise Cascade Stock Performance

BCC stock traded up $0.13 on Wednesday, reaching $75.98. 8,969 shares of the company were exchanged, compared to its average volume of 435,157. The firm has a market capitalization of $2.72 billion, a PE ratio of 21.60, a PEG ratio of 1.07 and a beta of 1.26. Boise Cascade has a 12 month low of $65.14 and a 12 month high of $102.09. The stock’s fifty day moving average price is $80.13 and its 200 day moving average price is $76.79. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.36 and a quick ratio of 1.74.

Boise Cascade Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Monday, February 23rd were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $0.88 dividend on an annualized basis and a yield of 1.2%. Boise Cascade’s dividend payout ratio (DPR) is 25.00%.

Institutional Trading of Boise Cascade

Several institutional investors have recently modified their holdings of the company. Wellington Management Group LLP lifted its position in Boise Cascade by 19.8% in the third quarter. Wellington Management Group LLP now owns 3,268,407 shares of the construction company’s stock worth $252,713,000 after purchasing an additional 539,962 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Boise Cascade by 2.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,280,347 shares of the construction company’s stock worth $176,313,000 after acquiring an additional 58,131 shares during the period. Westwood Holdings Group Inc. boosted its position in shares of Boise Cascade by 9.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,645,026 shares of the construction company’s stock valued at $142,821,000 after acquiring an additional 145,721 shares in the last quarter. State Street Corp increased its stake in Boise Cascade by 0.3% in the fourth quarter. State Street Corp now owns 1,472,071 shares of the construction company’s stock valued at $108,344,000 after acquiring an additional 3,817 shares during the period. Finally, Norges Bank bought a new stake in Boise Cascade in the fourth quarter valued at about $42,146,000. Institutional investors and hedge funds own 96.18% of the company’s stock.

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.