Boise Cascade (NYSE:BCC) Short Interest Update

Boise Cascade (NYSE:BCC) saw a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 1,040,000 shares, a drop of 33.8% from the May 31st total of 1,570,000 shares. Based on an average daily trading volume, of 320,400 shares, the days-to-cover ratio is presently 3.2 days. Approximately 2.7% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

BCC has been the subject of several recent research reports. StockNews.com raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. Truist Financial lifted their target price on shares of Boise Cascade from $156.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $131.75.

Boise Cascade Price Performance

Boise Cascade stock traded down $2.61 during trading on Monday, reaching $116.61. The company had a trading volume of 67,847 shares, compared to its average volume of 310,583. The firm’s 50-day simple moving average is $132.32 and its 200 day simple moving average is $134.62. Boise Cascade has a 1-year low of $87.32 and a 1-year high of $154.67. The firm has a market capitalization of $4.60 billion, a PE ratio of 9.69 and a beta of 1.50. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.05 and a current ratio of 3.24.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Monday, May 6th. The construction company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.31. Boise Cascade had a net margin of 7.08% and a return on equity of 22.00%. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the company earned $2.43 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Boise Cascade will post 10.84 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a $0.20 dividend. The ex-dividend date was Monday, June 3rd. This represents a $0.80 dividend on an annualized basis and a yield of 0.69%. Boise Cascade’s dividend payout ratio is currently 6.50%.

Insiders Place Their Bets

In other Boise Cascade news, SVP Jill Twedt sold 1,852 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $135.00, for a total transaction of $250,020.00. Following the completion of the transaction, the senior vice president now directly owns 37,437 shares of the company’s stock, valued at approximately $5,053,995. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Boise Cascade news, SVP Jill Twedt sold 1,852 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $135.00, for a total transaction of $250,020.00. Following the completion of the transaction, the senior vice president now directly owns 37,437 shares of the company’s stock, valued at approximately $5,053,995. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey Robert Strom sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $135.00, for a total transaction of $337,500.00. Following the transaction, the executive vice president now directly owns 43,353 shares of the company’s stock, valued at $5,852,655. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,352 shares of company stock valued at $587,520. 1.05% of the stock is owned by insiders.

Institutional Investors Weigh In On Boise Cascade

Several institutional investors and hedge funds have recently added to or reduced their stakes in BCC. Norges Bank acquired a new stake in Boise Cascade during the 4th quarter worth $60,383,000. Wellington Management Group LLP boosted its stake in Boise Cascade by 45.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,349,170 shares of the construction company’s stock worth $139,018,000 after purchasing an additional 418,891 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Boise Cascade by 59.7% during the 4th quarter. Pacer Advisors Inc. now owns 1,096,986 shares of the construction company’s stock worth $141,906,000 after purchasing an additional 409,906 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Boise Cascade by 293.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 236,980 shares of the construction company’s stock worth $36,346,000 after acquiring an additional 176,738 shares during the period. Finally, LSV Asset Management raised its holdings in shares of Boise Cascade by 55.0% during the 4th quarter. LSV Asset Management now owns 446,057 shares of the construction company’s stock worth $57,702,000 after acquiring an additional 158,363 shares during the period. Institutional investors and hedge funds own 96.18% of the company’s stock.

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.