Boise Cascade’s (BCC) Hold Rating Reiterated at Benchmark

Benchmark reiterated their hold rating on shares of Boise Cascade (NYSE:BCC) in a research report sent to investors on Tuesday morning,Benzinga reports.

Several other research firms also recently issued reports on BCC. The Goldman Sachs Group cut their target price on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Truist Financial cut their target price on Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday. DA Davidson cut their target price on Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research report on Monday. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Loop Capital cut their price target on Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $128.50.

Boise Cascade Trading Down 1.3 %

BCC opened at $102.71 on Tuesday. 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 stock has a market cap of $3.90 billion, a price-to-earnings ratio of 10.74 and a beta of 1.57. The stock’s 50 day moving average price is $121.11 and its 200-day moving average price is $131.63. Boise Cascade has a one year low of $102.17 and a one year high of $155.42.

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

Boise Cascade Announces Dividend

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

Insider Transactions at Boise Cascade

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total value of $57,047.48. Following the sale, the director now owns 13,099 shares of the company’s stock, valued at $1,351,292.84. This represents a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.98% of the company’s stock.

Hedge Funds Weigh In On Boise Cascade

A number of large investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. acquired a new stake in shares of Boise Cascade in the third quarter worth $28,000. R Squared Ltd acquired a new stake in shares of Boise Cascade in the fourth quarter worth $29,000. Quarry LP increased its position in shares of Boise Cascade by 502.4% in the fourth quarter. Quarry LP now owns 253 shares of the construction company’s stock worth $30,000 after acquiring an additional 211 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Boise Cascade by 23.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock worth $53,000 after acquiring an additional 73 shares in the last quarter. Finally, Principal Securities Inc. increased its position in shares of Boise Cascade by 44.2% in the fourth quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock worth $56,000 after acquiring an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

About Boise Cascade

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.