Boise Cascade (NYSE:BCC) Sets New 12-Month Low After Insider Selling

Boise Cascade (NYSE:BCC) hit a new 52-week low during trading on Thursday following insider selling activity. The company traded as low as $102.17 and last traded at $102.71, with a volume of 22958 shares traded. The stock had previously closed at $104.07.

Specifically, Director Kristopher J. Matula sold 553 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total transaction of $57,047.48. Following the completion of the transaction, the director now directly owns 13,099 shares in the company, valued at approximately $1,351,292.84. The trade was a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BCC shares. Truist Financial reduced their price objective on Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a research report on Monday. The Goldman Sachs Group cut their target price on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Loop Capital cut their target price on Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Monday. BMO Capital Markets cut their target price on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a research report on Tuesday. Finally, StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $128.50.

Boise Cascade Price Performance

The company has a fifty day simple moving average of $121.11 and a 200-day simple moving average of $131.63. The company has a market cap of $3.90 billion, a P/E ratio of 10.74 and a beta of 1.57. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 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 for the quarter, compared to analyst estimates of $1.57 billion. On average, sell-side analysts predict that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th will be given 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 presently 8.79%.

Institutional Investors Weigh In On Boise Cascade

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Westwood Holdings Group Inc. lifted its position in shares of Boise Cascade by 3.9% during the 4th quarter. Westwood Holdings Group Inc. now owns 1,192,621 shares of the construction company’s stock valued at $141,755,000 after acquiring an additional 45,010 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Boise Cascade by 12.0% in the fourth quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock valued at $134,831,000 after purchasing an additional 121,790 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Boise Cascade by 37.9% in the fourth quarter. First Trust Advisors LP now owns 712,527 shares of the construction company’s stock valued at $84,691,000 after purchasing an additional 195,773 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Boise Cascade by 17.8% in the fourth quarter. Northern Trust Corp now owns 483,165 shares of the construction company’s stock valued at $57,429,000 after purchasing an additional 73,061 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Boise Cascade in the fourth quarter valued at $55,680,000. Institutional investors and hedge funds 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.