Boise Cascade (NYSE:BCC) Short Interest Update

Boise Cascade (NYSE:BCC) was the target of a large decrease in short interest in March. As of March 15th, there was short interest totalling 642,800 shares, a decrease of 41.6% from the February 28th total of 1,100,000 shares. Based on an average daily volume of 390,300 shares, the short-interest ratio is presently 1.6 days. Currently, 1.7% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Truist Financial reduced their target price on Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. DA Davidson decreased their target price on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Loop Capital dropped their price target on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, February 24th. BMO Capital Markets cut their price target on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a report on Tuesday, February 25th. Finally, Benchmark reissued a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $128.50.

Insiders Place Their Bets

In other news, Director Kristopher J. Matula sold 553 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total transaction of $57,047.48. Following the transaction, the director now owns 13,099 shares in the company, valued at $1,351,292.84. This trade represents a 4.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jeffrey Robert Strom sold 4,500 shares of Boise Cascade stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total transaction of $450,945.00. Following the completion of the sale, the chief operating officer now owns 38,026 shares in the company, valued at approximately $3,810,585.46. This trade represents a 10.58 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.98% of the company’s stock.

Institutional Trading of Boise Cascade

Hedge funds have recently made changes to their positions in the company. R Squared Ltd acquired a new stake in Boise Cascade in the fourth quarter valued at $29,000. Quarry LP lifted its position in shares of Boise Cascade by 502.4% in the fourth quarter. Quarry LP now owns 253 shares of the construction company’s stock valued at $30,000 after acquiring an additional 211 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Boise Cascade by 23.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock valued at $53,000 after acquiring an additional 73 shares in the last quarter. Principal Securities Inc. increased its position in Boise Cascade by 44.2% during the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock worth $56,000 after purchasing an additional 145 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Boise Cascade by 254.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company’s stock worth $92,000 after purchasing an additional 558 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Stock Performance

Boise Cascade stock traded down $2.08 during midday trading on Friday, hitting $98.28. 378,873 shares of the company’s stock were exchanged, compared to its average volume of 325,492. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 10.28 and a beta of 1.67. Boise Cascade has a 12-month low of $95.33 and a 12-month high of $155.42. The firm’s 50 day simple moving average is $112.29 and its 200 day simple moving average is $127.39.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.01). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.57 billion. Equities research analysts predict that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, February 24th were given a $0.21 dividend. The ex-dividend date was Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.85%. Boise Cascade’s dividend payout ratio (DPR) is 8.79%.

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.