Boise Cascade Co (NYSE:BCC) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $29.46 and last traded at $29.91, with a volume of 48574 shares traded. The stock had previously closed at $32.24.
Several research analysts recently commented on BCC shares. Vertical Research upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. Zacks Investment Research downgraded shares of Boise Cascade from a “hold” rating to a “sell” rating in a report on Thursday, October 18th. ValuEngine downgraded shares of Boise Cascade from a “sell” rating to a “strong sell” rating in a report on Thursday, November 1st. BMO Capital Markets reiterated a “hold” rating and issued a $41.00 target price on shares of Boise Cascade in a report on Tuesday, July 17th. Finally, Bank of America dropped their target price on shares of Boise Cascade from $49.00 to $48.00 and set a “neutral” rating on the stock in a report on Tuesday, August 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $45.50.
The firm has a market capitalization of $1.26 billion, a P/E ratio of 15.62, a price-to-earnings-growth ratio of 1.13 and a beta of 2.01. The company has a current ratio of 2.25, a quick ratio of 1.15 and a debt-to-equity ratio of 0.57.
Boise Cascade (NYSE:BCC) last announced its earnings results on Tuesday, November 6th. The construction company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.75 by $0.01. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Boise Cascade had a net margin of 2.64% and a return on equity of 18.66%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 EPS. As a group, equities analysts expect that Boise Cascade Co will post 3.2 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.21%. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, November 30th. Boise Cascade’s dividend payout ratio (DPR) is currently 14.66%.
In other Boise Cascade news, SVP John T. Sahlberg sold 7,815 shares of the firm’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $43.99, for a total value of $343,781.85. Following the sale, the senior vice president now directly owns 58,988 shares in the company, valued at approximately $2,594,882.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Wayne M. Rancourt sold 9,872 shares of the firm’s stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $44.85, for a total transaction of $442,759.20. Following the completion of the sale, the chief financial officer now owns 86,421 shares in the company, valued at $3,875,981.85. The disclosure for this sale can be found here. Insiders sold a total of 21,801 shares of company stock worth $968,791 over the last 90 days. Company insiders own 1.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its position in Boise Cascade by 10.3% in the 2nd quarter. BlackRock Inc. now owns 5,648,484 shares of the construction company’s stock worth $252,488,000 after purchasing an additional 528,529 shares during the last quarter. Macquarie Group Ltd. grew its position in Boise Cascade by 11.7% in the 2nd quarter. Macquarie Group Ltd. now owns 1,310,363 shares of the construction company’s stock worth $58,574,000 after purchasing an additional 137,342 shares during the last quarter. Northern Trust Corp grew its position in Boise Cascade by 20.2% in the 2nd quarter. Northern Trust Corp now owns 980,253 shares of the construction company’s stock worth $43,818,000 after purchasing an additional 164,841 shares during the last quarter. Voya Investment Management LLC grew its position in Boise Cascade by 1.9% in the 2nd quarter. Voya Investment Management LLC now owns 907,694 shares of the construction company’s stock worth $40,574,000 after purchasing an additional 16,671 shares during the last quarter. Finally, Millennium Management LLC grew its position in Boise Cascade by 9.2% in the 2nd quarter. Millennium Management LLC now owns 871,939 shares of the construction company’s stock worth $38,976,000 after purchasing an additional 73,805 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.
Boise Cascade Company Profile (NYSE:BCC)
Boise Cascade Company manufactures wood products and distributes building materials in the United States and Canada. It operates in 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 lumber, studs, and particleboards.
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