Jill Twedt Sells 1,250 Shares of Boise Cascade (NYSE:BCC) Stock

Boise Cascade, L.L.C. (NYSE:BCC) SVP Jill Twedt sold 1,250 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $79.40, for a total value of $99,250.00. Following the transaction, the senior vice president directly owned 25,295 shares of the company’s stock, valued at $2,008,423. This trade represents a 4.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Boise Cascade Stock Down 0.3%

BCC stock opened at $78.52 on Friday. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 26.62, a P/E/G ratio of 1.06 and a beta of 1.10. Boise Cascade, L.L.C. has a twelve month low of $65.00 and a twelve month high of $91.97. The business has a 50 day moving average price of $78.88 and a two-hundred day moving average price of $76.73. The company has a quick ratio of 1.31, a current ratio of 2.71 and a debt-to-equity ratio of 0.24.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data 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. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Boise Cascade had a return on equity of 5.41% and a net margin of 1.64%.The business’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.64 EPS. Analysts anticipate that Boise Cascade, L.L.C. will post 3.86 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.2%. This is an increase from Boise Cascade’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, September 1st. Boise Cascade’s payout ratio is currently 29.83%.

Hedge Funds Weigh In On Boise Cascade

Institutional investors and hedge funds have recently modified their holdings of the stock. Cerity Partners LLC raised its position in shares of Boise Cascade by 3.8% in the second quarter. Cerity Partners LLC now owns 3,274 shares of the construction company’s stock valued at $284,000 after purchasing an additional 121 shares during the period. Raymond James Financial Inc. boosted its holdings in shares of Boise Cascade by 1.0% during 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 period. Fifth Third Bancorp boosted its holdings in shares of Boise Cascade by 77.5% during the 4th quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock worth $30,000 after buying an additional 179 shares during the period. ProShare Advisors LLC grew its stake in Boise Cascade by 3.2% in the 4th quarter. ProShare Advisors LLC now owns 7,329 shares of the construction company’s stock valued at $539,000 after buying an additional 226 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in Boise Cascade by 231.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock valued at $29,000 after buying an additional 259 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BCC has been the subject of a number of analyst reports. Truist Financial set a $97.00 price objective on shares of Boise Cascade in a research report on Wednesday, May 6th. 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 report on Tuesday, July 14th. Wall Street Zen upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. The Goldman Sachs Group lifted their price target on Boise Cascade from $81.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Finally, DA Davidson boosted their price target on Boise Cascade from $92.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Boise Cascade presently has a consensus rating of “Hold” and a consensus price target of $93.60.

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.