Boise Cascade, L.L.C. (NYSE:BCC) Plans Quarterly Dividend of $0.22

Boise Cascade, L.L.C. (NYSE:BCC) declared a quarterly dividend on Thursday, April 30th. Shareholders of record on Monday, June 1st will be paid a dividend of 0.22 per share by the construction company on Wednesday, June 17th. This represents a c) dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, June 1st.

Boise Cascade has decreased its dividend by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Boise Cascade has a payout ratio of 10.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Boise Cascade to earn $5.49 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 16.0%.

Boise Cascade Stock Performance

NYSE:BCC traded down $0.27 on Friday, reaching $79.00. 18,790 shares of the company’s stock were exchanged, compared to its average volume of 405,288. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.36 and a quick ratio of 1.74. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 22.42, a P/E/G ratio of 1.14 and a beta of 1.23. Boise Cascade has a 52 week low of $65.14 and a 52 week high of $97.67. The stock has a fifty day simple moving average of $77.55 and a 200-day simple moving average of $77.09.

Analyst Upgrades and Downgrades

BCC has been the topic of a number of recent analyst reports. DA Davidson reissued a “buy” rating and issued a $95.00 price target on shares of Boise Cascade in a report on Tuesday, February 24th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Boise Cascade in a research note on Thursday, January 8th. Weiss Ratings raised shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 30th. Wall Street Zen raised shares of Boise Cascade from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Truist Financial lowered their target price on shares of Boise Cascade from $103.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $99.20.

Boise Cascade Company Profile

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.