Boise Cascade (NYSE:BCC) Hits New 12-Month High at $153.00

Boise Cascade (NYSE:BCC)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $153.00 and last traded at $152.17, with a volume of 8738 shares traded. The stock had previously closed at $150.80.

Analyst Ratings Changes

BCC has been the topic of several research analyst reports. StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Truist Financial boosted their price objective on shares of Boise Cascade from $156.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Finally, The Goldman Sachs Group raised their target price on shares of Boise Cascade from $114.00 to $129.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $125.00.

Boise Cascade Stock Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.26 and a current ratio of 3.46. The stock has a fifty day simple moving average of $136.04 and a two-hundred day simple moving average of $119.01. The stock has a market cap of $6.01 billion, a PE ratio of 12.53 and a beta of 1.59.

Boise Cascade (NYSE:BCC) last announced its earnings results on Wednesday, February 21st. The construction company reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($0.01). Boise Cascade had a net margin of 7.07% and a return on equity of 21.94%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter last year, the company posted $2.95 earnings per share. Boise Cascade’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities analysts anticipate that Boise Cascade will post 11.58 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 23rd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Thursday, February 22nd. Boise Cascade’s payout ratio is 6.60%.

Insider Buying and Selling at Boise Cascade

In other news, EVP Dean Michael Brown sold 11,117 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $139.09, for a total transaction of $1,546,263.53. Following the completion of the transaction, the executive vice president now directly owns 40,237 shares in the company, valued at approximately $5,596,564.33. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.89% of the stock is owned by insiders.

Institutional Trading of Boise Cascade

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Boise Cascade by 3.0% in the first quarter. BlackRock Inc. now owns 6,609,770 shares of the construction company’s stock worth $459,180,000 after purchasing an additional 191,595 shares in the last quarter. Vanguard Group Inc. lifted its stake in Boise Cascade by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 4,709,276 shares of the construction company’s stock worth $609,192,000 after purchasing an additional 35,963 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Boise Cascade by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,801,903 shares of the construction company’s stock worth $362,456,000 after purchasing an additional 28,952 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in Boise Cascade by 2.1% in the first quarter. Macquarie Group Ltd. now owns 2,124,951 shares of the construction company’s stock worth $134,403,000 after purchasing an additional 43,014 shares during the period. Finally, Acadian Asset Management LLC increased its stake in Boise Cascade by 13.8% during the third quarter. Acadian Asset Management LLC now owns 1,473,620 shares of the construction company’s stock valued at $151,820,000 after purchasing an additional 178,439 shares during the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

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.