Boise Cascade (NYSE:BCC) Reaches New 52-Week Low – Here’s What Happened

Shares of Boise Cascade (NYSE:BCC) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $95.30 and last traded at $96.77, with a volume of 9723 shares changing hands. The stock had previously closed at $98.30.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Benchmark restated a “hold” rating on shares of Boise Cascade in a report on Tuesday, February 25th. Loop Capital cut their price objective on Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. DA Davidson decreased their target price on Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a research report on Monday, February 24th. The Goldman Sachs Group dropped their price target on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Finally, BMO Capital Markets reduced their price objective on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Boise Cascade has an average rating of “Hold” and a consensus price target of $128.50.

Boise Cascade Trading Down 0.6 %

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34. The company’s 50 day moving average is $112.29 and its 200 day moving average is $127.39. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 10.23 and a beta of 1.67.

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

Boise Cascade Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend was Monday, February 24th. Boise Cascade’s payout ratio is 8.79%.

Insiders Place Their Bets

In other Boise Cascade news, COO Jeffrey Robert Strom sold 4,500 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total transaction of $450,945.00. Following the transaction, the chief operating officer now owns 38,026 shares of the company’s stock, valued at approximately $3,810,585.46. This represents a 10.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kristopher J. Matula sold 553 shares of Boise Cascade stock in a transaction on 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 of the company’s stock, valued at $1,351,292.84. This trade represents a 4.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.98% of the company’s stock.

Hedge Funds Weigh In On Boise Cascade

Several hedge funds have recently added to or reduced their stakes in BCC. R Squared Ltd bought a new position in shares of Boise Cascade in the 4th quarter valued at about $29,000. Quarry LP raised its position in shares of Boise Cascade by 502.4% during the 4th quarter. Quarry LP now owns 253 shares of the construction company’s stock valued at $30,000 after acquiring an additional 211 shares during the last quarter. Principal Securities Inc. lifted its stake in shares of Boise Cascade by 44.2% in the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock valued at $56,000 after purchasing an additional 145 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Boise Cascade by 254.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company’s stock worth $92,000 after purchasing an additional 558 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of Boise Cascade by 234.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,270 shares of the construction company’s stock worth $179,000 after purchasing an additional 890 shares during the period. Institutional investors 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.