Boise Cascade (NYSE:BCC) Stock Price Down 4.9%

Boise Cascade (NYSE:BCC)’s stock price dropped 4.9% on Tuesday . The stock traded as low as $138.79 and last traded at $141.67. Approximately 103,040 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 289,675 shares. The stock had previously closed at $149.00.

Analyst Upgrades and Downgrades

BCC has been the topic of several research reports. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Truist Financial raised their price target on shares of Boise Cascade from $156.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Finally, The Goldman Sachs Group raised their price target on shares of Boise Cascade from $114.00 to $129.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $125.00.

Boise Cascade Trading Down 0.7 %

The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 11.38 and a beta of 1.60. The company’s 50-day moving average is $140.34 and its 200-day moving average is $124.01. The company has a quick ratio of 2.26, a current ratio of 3.46 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Wednesday, February 21st. The construction company reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($0.01). Boise Cascade had a net margin of 7.07% and a return on equity of 21.94%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the business earned $2.95 earnings per share. Boise Cascade’s revenue was up 1.0% on a year-over-year basis. Research analysts anticipate that Boise Cascade will post 11.58 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 23rd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Thursday, February 22nd. Boise Cascade’s dividend payout ratio is presently 6.60%.

Insider Activity at Boise Cascade

In related news, EVP Dean Michael Brown sold 11,117 shares of Boise Cascade stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $139.09, for a total value of $1,546,263.53. Following the completion of the transaction, the executive vice president now owns 40,237 shares in the company, valued at $5,596,564.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.05% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BCC. Neo Ivy Capital Management purchased a new position in Boise Cascade in the second quarter worth approximately $25,000. USA Financial Formulas lifted its stake in Boise Cascade by 5,050.0% in the fourth quarter. USA Financial Formulas now owns 206 shares of the construction company’s stock worth $27,000 after acquiring an additional 202 shares during the last quarter. Principal Securities Inc. purchased a new position in Boise Cascade in the fourth quarter worth approximately $27,000. Global Retirement Partners LLC lifted its stake in Boise Cascade by 1,147.1% in the fourth quarter. Global Retirement Partners LLC now owns 212 shares of the construction company’s stock worth $28,000 after acquiring an additional 195 shares during the last quarter. Finally, Scarborough Advisors LLC purchased a new position in Boise Cascade in the fourth quarter worth approximately $36,000. Institutional investors and hedge funds 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.