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

Boise Cascade (NYSE:BCC)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $95.30 and last traded at $96.77, with a volume of 9723 shares traded. The stock had previously closed at $98.30.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BCC shares. The Goldman Sachs Group lowered their target price on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Truist Financial dropped their target price on Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Loop Capital decreased their price target on Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a report on Monday, February 24th. Benchmark restated a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Finally, BMO Capital Markets cut their price objective on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Boise Cascade has an average rating of “Hold” and an average price target of $128.50.

Boise Cascade Price Performance

The stock has a market cap of $3.74 billion, a P/E ratio of 10.32 and a beta of 1.67. The business has a 50 day simple moving average of $111.07 and a 200-day simple moving average of $126.93. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34.

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

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.84 annualized dividend and a dividend yield of 0.85%. Boise Cascade’s payout ratio is currently 8.79%.

Insider Activity at Boise Cascade

In other news, 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 value of $450,945.00. Following the completion of the transaction, the chief operating officer now owns 38,026 shares in the company, valued at $3,810,585.46. This trade represents a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kristopher J. Matula sold 553 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total transaction of $57,047.48. Following the sale, the director now owns 13,099 shares in the company, valued at $1,351,292.84. The trade was a 4.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On Boise Cascade

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vise Technologies Inc. grew its position 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 purchasing an additional 100 shares in the last quarter. Invst LLC grew its holdings in Boise Cascade by 2.6% during the 3rd quarter. Invst LLC now owns 5,060 shares of the construction company’s stock valued at $713,000 after buying an additional 128 shares in the last quarter. D.A. Davidson & CO. grew its holdings in Boise Cascade by 4.2% during the 4th quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company’s stock valued at $388,000 after buying an additional 133 shares in the last quarter. Principal Securities Inc. increased its position in shares of Boise Cascade by 44.2% during 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 period. Finally, Orion Portfolio Solutions LLC lifted its holdings in shares of Boise Cascade by 8.9% in the third quarter. Orion Portfolio Solutions LLC now owns 2,023 shares of the construction company’s stock worth $285,000 after buying an additional 165 shares in the last quarter. Institutional investors own 96.18% of the company’s stock.

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.