Boise Cascade (NYSE:BCC) Reaches New 1-Year Low – What’s Next?

Boise Cascade (NYSE:BCC) reached a new 52-week low during trading on Wednesday . The company traded as low as $84.53 and last traded at $87.86, with a volume of 872070 shares traded. The stock had previously closed at $92.47.

Wall Street Analyst Weigh In

Several research firms recently commented on BCC. BMO Capital Markets reduced their target price on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a report on Tuesday, February 25th. Loop Capital decreased their price target on Boise Cascade from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Truist Financial lowered their price objective on shares of Boise Cascade from $134.00 to $118.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. The Goldman Sachs Group decreased their price objective on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Finally, DA Davidson decreased their price target on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a report on Monday, February 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Boise Cascade has a consensus rating of “Hold” and an average price target of $125.00.

Boise Cascade Trading Down 5.0 %

The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 9.19 and a beta of 1.43. The company has a fifty day moving average price of $96.78 and a 200-day moving average price of $118.39. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last posted its earnings results on Monday, May 5th. The construction company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.30). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the firm earned $2.61 earnings per share. Boise Cascade’s revenue was down 6.6% compared to the same quarter last year. On average, equities research analysts predict that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.84 annualized dividend and a yield of 0.96%. Boise Cascade’s dividend payout ratio (DPR) is currently 10.49%.

Insider Transactions at Boise Cascade

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total transaction of $57,047.48. Following the completion of the sale, the director now directly owns 13,099 shares in the company, valued at $1,351,292.84. This represents a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey Robert Strom sold 4,500 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total value of $450,945.00. Following the sale, the chief operating officer now owns 38,026 shares of the company’s stock, valued at approximately $3,810,585.46. The trade was a 10.58 % decrease in their position. The disclosure for this sale can be found here. 1.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vise Technologies Inc. raised its stake in shares of Boise Cascade by 3.4% in the fourth quarter. Vise Technologies Inc. now owns 3,021 shares of the construction company’s stock valued at $359,000 after acquiring an additional 100 shares during the last quarter. SummerHaven Investment Management LLC boosted its stake in Boise Cascade by 1.7% in the first quarter. SummerHaven Investment Management LLC now owns 6,708 shares of the construction company’s stock worth $658,000 after purchasing an additional 114 shares in the last quarter. D.A. Davidson & CO. grew its holdings in shares of Boise Cascade by 4.2% during the fourth quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company’s stock worth $388,000 after purchasing an additional 133 shares during the last quarter. Principal Securities Inc. raised its holdings in shares of Boise Cascade by 44.2% in the fourth quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock valued at $56,000 after buying an additional 145 shares during the last quarter. Finally, Peak Financial Advisors LLC raised its holdings in shares of Boise Cascade by 4.8% in the first quarter. Peak Financial Advisors LLC now owns 3,624 shares of the construction company’s stock valued at $355,000 after buying an additional 166 shares during the last quarter. 96.18% of the stock is owned by institutional investors.

About Boise Cascade

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.