Boise Cascade (NYSE:BCC) Short Interest Up 5.2% in November

Boise Cascade (NYSE:BCC) saw a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 1,040,000 shares, a growth of 5.2% from the November 15th total of 988,400 shares. Based on an average daily volume of 288,700 shares, the short-interest ratio is currently 3.6 days. Approximately 2.7% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new stake in Boise Cascade in the 3rd quarter valued at about $28,000. Larson Financial Group LLC acquired a new stake in shares of Boise Cascade in the second quarter valued at approximately $36,000. CWM LLC increased its holdings in shares of Boise Cascade by 26.5% in the third quarter. CWM LLC now owns 673 shares of the construction company’s stock valued at $95,000 after purchasing an additional 141 shares in the last quarter. Covestor Ltd raised its position in Boise Cascade by 50.1% in the 3rd quarter. Covestor Ltd now owns 689 shares of the construction company’s stock worth $97,000 after purchasing an additional 230 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in Boise Cascade by 423.4% during the 2nd quarter. Blue Trust Inc. now owns 963 shares of the construction company’s stock worth $115,000 after buying an additional 779 shares in the last quarter. Institutional investors own 96.18% of the company’s stock.

Boise Cascade Stock Down 2.6 %

Shares of BCC opened at $136.26 on Monday. Boise Cascade has a 52 week low of $113.89 and a 52 week high of $155.42. The firm has a market capitalization of $5.23 billion, a P/E ratio of 13.33 and a beta of 1.53. The company has a 50-day simple moving average of $141.14 and a 200-day simple moving average of $133.86. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13.

Boise Cascade (NYSE:BCC) last issued its earnings results on Monday, November 4th. The construction company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.04). The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.72 billion. Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period last year, the business earned $3.58 earnings per share. On average, equities research analysts expect that Boise Cascade will post 9.57 earnings per share for the current year.

Boise Cascade Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be given a $0.21 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 0.62%. Boise Cascade’s dividend payout ratio (DPR) is presently 8.22%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BCC. Bank of America boosted their target price on Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research note on Thursday, September 12th. Loop Capital started coverage on Boise Cascade in a report on Friday, November 1st. They issued a “buy” rating and a $155.00 price objective on the stock. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Truist Financial increased their price target on shares of Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, BMO Capital Markets lifted their price objective on shares of Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Boise Cascade currently has an average rating of “Hold” and a consensus price target of $139.60.

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.