Boise Cascade (NYSE:BCC) Hits New 12-Month Low Following Insider Selling

Shares of Boise Cascade (NYSE:BCC) hit a new 52-week low during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $102.17 and last traded at $102.71, with a volume of 22958 shares changing hands. The stock had previously closed at $104.07.

Specifically, Director Kristopher J. Matula sold 553 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total value of $57,047.48. Following the completion of the sale, the director now directly owns 13,099 shares in the company, valued at $1,351,292.84. This represents a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BCC. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group reduced their target price on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. BMO Capital Markets reduced their target price on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a research report on Tuesday. Truist Financial dropped their price objective on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a report on Monday, February 24th. Finally, Benchmark reissued a “hold” rating on shares of Boise Cascade in a report on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $128.50.

Boise Cascade Price Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92. The stock’s fifty day moving average is $121.11 and its 200-day moving average is $131.63. The stock has a market cap of $3.93 billion, a PE ratio of 10.85 and a beta of 1.57.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. As a group, equities analysts anticipate that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.81%. The ex-dividend date is Monday, February 24th. Boise Cascade’s dividend payout ratio (DPR) is presently 8.79%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC boosted its stake in Boise Cascade by 341.9% during the third quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock worth $2,229,000 after buying an additional 12,231 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Boise Cascade by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock worth $61,680,000 after buying an additional 9,128 shares during the period. Fulcrum Capital LLC purchased a new position in Boise Cascade during the fourth quarter worth about $1,092,000. D.A. Davidson & CO. boosted its stake in Boise Cascade by 4.2% during the fourth quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company’s stock worth $388,000 after buying an additional 133 shares during the period. Finally, Nordea Investment Management AB boosted its stake in Boise Cascade by 5.0% during the fourth quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company’s stock worth $14,454,000 after buying an additional 5,779 shares during the period. Hedge funds and other 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.