Boise Cascade (NYSE:BCC) Hits New 12-Month Low – Here’s Why

Boise Cascade (NYSE:BCC) hit a new 52-week low during trading on Friday . The stock traded as low as $113.38 and last traded at $115.69, with a volume of 14336 shares changing hands. The stock had previously closed at $117.40.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on BCC shares. Truist Financial cut their price target on shares of Boise Cascade from $161.00 to $157.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Loop Capital began coverage on shares of Boise Cascade in a research report on Friday, November 1st. They set a “buy” rating and a $155.00 target price for the company. BMO Capital Markets raised their target price on Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Finally, StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Boise Cascade has an average rating of “Hold” and a consensus target price of $138.80.

Boise Cascade Trading Down 1.4 %

The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $134.40 and a 200-day moving average price of $132.89. The firm has a market capitalization of $4.45 billion, a P/E ratio of 11.33 and a beta of 1.58.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.37 by ($0.04). Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the business earned $3.58 earnings per share. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. Analysts anticipate that Boise Cascade will post 9.57 earnings per share for the current year.

Boise Cascade Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.73%. Boise Cascade’s dividend payout ratio is 8.22%.

Institutional Investors Weigh In On Boise Cascade

Hedge funds have recently added to or reduced their stakes in the stock. Oliver Luxxe Assets LLC lifted its position in shares of Boise Cascade by 5.4% during the fourth quarter. Oliver Luxxe Assets LLC now owns 41,071 shares of the construction company’s stock worth $4,882,000 after purchasing an additional 2,097 shares in the last quarter. Nordea Investment Management AB raised its position in Boise Cascade by 5.0% in the 4th quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company’s stock worth $14,454,000 after purchasing an additional 5,779 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Boise Cascade by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 43,958 shares of the construction company’s stock worth $6,285,000 after buying an additional 335 shares in the last quarter. Tidal Investments LLC boosted its position in 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 buying an additional 12,231 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new stake in shares of Boise Cascade in the 3rd quarter valued at $3,995,000. 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.