Boise Cascade (NYSE:BCC) Short Interest Update

Boise Cascade (NYSE:BCC) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 882,900 shares, an increase of 40.6% from the March 31st total of 628,100 shares. Based on an average daily trading volume, of 379,700 shares, the short-interest ratio is currently 2.3 days. Approximately 2.4% of the shares of the stock are short sold.

Boise Cascade Trading Up 3.6 %

Shares of NYSE BCC opened at $96.05 on Friday. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22. Boise Cascade has a one year low of $87.84 and a one year high of $155.42. The business has a 50-day moving average price of $97.32 and a two-hundred day moving average price of $119.30. The firm has a market capitalization of $3.65 billion, a PE ratio of 10.05 and a beta of 1.52.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 EPS 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 analyst estimates of $1.57 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. As a group, analysts predict that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, June 2nd will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.84 annualized dividend and a dividend yield of 0.87%. Boise Cascade’s dividend payout ratio is 8.79%.

Insider Buying and Selling at Boise Cascade

In related news, COO Jeffrey Robert Strom sold 4,500 shares of Boise Cascade stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total transaction of $450,945.00. Following the transaction, the chief operating officer now directly owns 38,026 shares of the company’s stock, valued at $3,810,585.46. The trade was a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 dated 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 directly owns 13,099 shares of the company’s stock, 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 corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC increased its holdings in Boise Cascade by 174.1% in the third quarter. Barclays PLC now owns 90,366 shares of the construction company’s stock worth $12,739,000 after buying an additional 57,403 shares during the last quarter. Invst LLC increased its stake in shares of Boise Cascade by 2.6% during the 3rd quarter. Invst LLC now owns 5,060 shares of the construction company’s stock worth $713,000 after purchasing an additional 128 shares during the last quarter. World Investment Advisors LLC bought a new position in shares of Boise Cascade during the 3rd quarter valued at $3,995,000. Tidal Investments LLC lifted its stake in shares of Boise Cascade by 341.9% in the 3rd quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock valued at $2,229,000 after purchasing an additional 12,231 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Boise Cascade by 0.8% in the third quarter. Franklin Resources Inc. now owns 43,958 shares of the construction company’s stock worth $6,285,000 after purchasing an additional 335 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Truist Financial cut their target price on shares of Boise Cascade from $134.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. BMO Capital Markets decreased their target price on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a report on Tuesday, February 25th. Benchmark reaffirmed a “hold” rating on shares of Boise Cascade in a report on Tuesday, February 25th. The Goldman Sachs Group decreased their price target 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. Finally, DA Davidson reduced their price objective 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, February 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $125.00.

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.