According to Zacks, “Boise Cascade Company operates as a wood products manufacturer and building materials distributor. The Company manufactures engineered wood products, plywood, lumber and particleboard and distributes wood products, such as decking, EWP, lumber, panel, particleboard, and MDF products. It has operations primarily in the United States and Canada. Boise Cascade Company is headquartered in Boise, Idaho. “
A number of other brokerages have also weighed in on BCC. ValuEngine raised shares of Boise Cascade from a hold rating to a buy rating in a research note on Wednesday, October 16th. BMO Capital Markets upped their price target on shares of Boise Cascade from $30.00 to $35.00 and gave the stock a market perform rating in a research note on Monday, November 11th. DA Davidson lowered shares of Boise Cascade from a buy rating to a neutral rating and set a $40.00 price target for the company. in a research note on Friday, November 8th. Finally, Vertical Research lowered shares of Boise Cascade from a buy rating to a hold rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $33.00.
Boise Cascade stock traded down $1.00 during midday trading on Tuesday, reaching $37.56. 338,610 shares of the stock traded hands, compared to its average volume of 372,570. The firm has a fifty day moving average price of $34.58 and a two-hundred day moving average price of $29.31. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 2.62 and a beta of 2.02. Boise Cascade has a fifty-two week low of $22.00 and a fifty-two week high of $39.65. The company has a current ratio of 2.53, a quick ratio of 1.42 and a debt-to-equity ratio of 0.72.
Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Thursday, November 7th. The construction company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.27 billion. Boise Cascade had a negative net margin of 0.13% and a positive return on equity of 8.10%. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.76 EPS. Analysts anticipate that Boise Cascade will post 1.88 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, November 29th. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 1.06%. Boise Cascade’s dividend payout ratio is currently 15.72%.
In other Boise Cascade news, insider Stewart David bought 196,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was acquired at an average cost of $0.23 per share, with a total value of $45,276.00. Also, EVP Dean Michael Brown sold 2,529 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $37.64, for a total transaction of $95,191.56. Following the sale, the executive vice president now directly owns 26,667 shares of the company’s stock, valued at $1,003,745.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,396 shares of company stock valued at $1,683,907. Company insiders own 1.50% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc lifted its stake in Boise Cascade by 183.5% during the third quarter. Versant Capital Management Inc now owns 788 shares of the construction company’s stock valued at $25,000 after purchasing an additional 510 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Boise Cascade by 680.0% during the second quarter. Tower Research Capital LLC TRC now owns 1,560 shares of the construction company’s stock valued at $44,000 after acquiring an additional 1,360 shares during the period. First Interstate Bank raised its holdings in shares of Boise Cascade by 56.6% during the third quarter. First Interstate Bank now owns 2,999 shares of the construction company’s stock valued at $98,000 after acquiring an additional 1,084 shares during the period. FMR LLC raised its holdings in shares of Boise Cascade by 436.4% during the first quarter. FMR LLC now owns 3,331 shares of the construction company’s stock valued at $89,000 after acquiring an additional 2,710 shares during the period. Finally, Convergence Investment Partners LLC acquired a new stake in shares of Boise Cascade during the third quarter valued at approximately $122,000. 91.08% of the stock is owned by institutional investors and hedge funds.
About Boise Cascade
Boise Cascade Company manufactures wood products and distributes building materials in the United States and Canada. It operates in 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; and structural, appearance, and industrial plywood panels.
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