Boise Cascade (NYSE:BCC) Trading 5.4% Higher – Still a Buy?

Boise Cascade, L.L.C. (NYSE:BCC)’s stock price was up 5.4% during mid-day trading on Thursday . The stock traded as high as $79.39 and last traded at $80.1030. Approximately 45,120 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 429,995 shares. The stock had previously closed at $75.99.

Wall Street Analyst Weigh In

BCC has been the topic of a number of recent research reports. Truist Financial set a $97.00 price objective on Boise Cascade in a report on Wednesday, May 6th. Weiss Ratings upgraded Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. DA Davidson decreased their price target on Boise Cascade from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Bank of America upped their price target on Boise Cascade from $80.00 to $81.00 and gave the company an “underperform” rating in a research report on Tuesday. Finally, Zacks Research upgraded Boise Cascade from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Boise Cascade has a consensus rating of “Hold” and a consensus target price of $92.80.

Boise Cascade Trading Down 3.9%

The company has a market cap of $2.71 billion, a price-to-earnings ratio of 26.03, a price-to-earnings-growth ratio of 1.11 and a beta of 1.08. The company’s fifty day moving average price is $71.84 and its two-hundred day moving average price is $76.87. The company has a quick ratio of 1.37, a current ratio of 2.77 and a debt-to-equity ratio of 0.24.

Boise Cascade (NYSE:BCC) last announced its earnings results on Monday, May 4th. The construction company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.43 by $0.07. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.46 billion. Boise Cascade had a return on equity of 5.55% and a net margin of 1.73%.Boise Cascade’s revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.06 EPS. Research analysts expect that Boise Cascade, L.L.C. will post 3.83 earnings per share for the current year.

Boise Cascade Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Monday, June 1st were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Monday, June 1st. Boise Cascade’s dividend payout ratio is presently 29.73%.

Insider Buying and Selling at Boise Cascade

In related news, SVP Jill Twedt sold 6,070 shares of Boise Cascade stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $66.45, for a total value of $403,351.50. Following the completion of the transaction, the senior vice president directly owned 26,545 shares of the company’s stock, valued at $1,763,915.25. The trade was a 18.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.42% of the company’s stock.

Hedge Funds Weigh In On Boise Cascade

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC lifted its stake in shares of Boise Cascade by 890.3% during the fourth quarter. SG Americas Securities LLC now owns 34,977 shares of the construction company’s stock valued at $2,574,000 after acquiring an additional 31,445 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Boise Cascade by 28.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 44,561 shares of the construction company’s stock valued at $3,280,000 after acquiring an additional 9,825 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in Boise Cascade in the fourth quarter worth about $6,655,000. JPMorgan Chase & Co. increased its position in Boise Cascade by 7.9% in the third quarter. JPMorgan Chase & Co. now owns 347,301 shares of the construction company’s stock worth $26,853,000 after purchasing an additional 25,452 shares during the period. Finally, Peregrine Capital Management LLC raised its holdings in Boise Cascade by 33.3% during the 4th quarter. Peregrine Capital Management LLC now owns 187,259 shares of the construction company’s stock worth $13,782,000 after purchasing an additional 46,802 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

About Boise Cascade

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.