Boise Cascade (NYSE:BCC) Reaches New 52-Week Low on Insider Selling

Boise Cascade (NYSE:BCC)’s stock price reached a new 52-week low on Thursday after an insider sold shares in the company. The company traded as low as $102.17 and last traded at $102.71, with a volume of 22958 shares changing hands. The stock had previously closed at $104.07.

Specifically, Director Kristopher J. Matula sold 553 shares of the stock in a transaction 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 completion of the sale, the director now owns 13,099 shares in the company, valued at $1,351,292.84. This represents a 4.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analyst Weigh In

BCC has been the subject of a number of recent research reports. 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 research note on Monday. 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 research note on Tuesday. Truist Financial reduced their target price on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a research note on Monday. Loop Capital reduced their target price on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Monday. Finally, StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $128.50.

Boise Cascade Price Performance

The stock’s fifty day moving average price is $121.52 and its 200-day moving average price is $131.84. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34. The firm has a market cap of $3.89 billion, a PE ratio of 10.71 and a beta of 1.57.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.57 billion. As a group, equities analysts forecast that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $0.84 annualized dividend and a yield of 0.82%. Boise Cascade’s dividend payout ratio (DPR) is currently 8.79%.

Hedge Funds Weigh In On Boise Cascade

Hedge funds have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. purchased a new position in Boise Cascade during the 3rd quarter valued at about $28,000. R Squared Ltd purchased a new position in Boise Cascade during the 4th quarter valued at about $29,000. Quarry LP increased its holdings in Boise Cascade by 502.4% during the 4th quarter. Quarry LP now owns 253 shares of the construction company’s stock valued at $30,000 after acquiring an additional 211 shares in the last quarter. Larson Financial Group LLC increased its holdings in Boise Cascade by 23.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock valued at $53,000 after acquiring an additional 73 shares in the last quarter. Finally, Principal Securities Inc. increased its holdings in Boise Cascade by 44.2% during the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock valued at $56,000 after acquiring an additional 145 shares in the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

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.