Boise Cascade (NYSE:BCC) Reaches New 52-Week Low – Should You Sell?

Boise Cascade (NYSE:BCC)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $89.10 and last traded at $92.25, with a volume of 107918 shares. The stock had previously closed at $95.44.

Analysts Set New Price Targets

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

Boise Cascade Trading Up 9.7 %

The business has a 50 day moving average of $105.88 and a 200-day moving average of $124.67. The stock has a market cap of $3.74 billion, a PE ratio of 10.32 and a beta of 1.52. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.01). The company 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%. On average, analysts anticipate that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Monday, February 24th. Boise Cascade’s dividend payout ratio is currently 8.79%.

Insiders Place Their Bets

In related news, Director Kristopher J. Matula sold 553 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 13,099 shares in the company, valued at approximately $1,351,292.84. This trade represents a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jeffrey Robert Strom sold 4,500 shares of Boise Cascade stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total transaction of $450,945.00. Following the transaction, the chief operating officer now directly owns 38,026 shares in the company, valued at approximately $3,810,585.46. This trade represents a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Boise Cascade

A number of hedge funds have recently made changes to their positions in BCC. Norges Bank purchased a new stake in Boise Cascade during the 4th quarter worth $55,680,000. First Trust Advisors LP boosted its position in shares of Boise Cascade by 37.9% in the fourth quarter. First Trust Advisors LP now owns 712,527 shares of the construction company’s stock worth $84,691,000 after buying an additional 195,773 shares during the period. GAMMA Investing LLC boosted its position in shares of Boise Cascade by 15,650.6% in the first quarter. GAMMA Investing LLC now owns 143,015 shares of the construction company’s stock worth $14,028,000 after buying an additional 142,107 shares during the period. American Century Companies Inc. grew its stake in shares of Boise Cascade by 12.0% in the fourth quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock valued at $134,831,000 after buying an additional 121,790 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of Boise Cascade by 534.5% during the 4th quarter. Tidal Investments LLC now owns 100,295 shares of the construction company’s stock valued at $11,921,000 after buying an additional 84,487 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.