Boise Cascade (NYSE:BCC) Reaches New 12-Month Low - Here's Why

Shares of Boise Cascade (NYSE:BCC - Get Free Report) reached a new 52-week low on Friday . The company 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 equities research analysts recently issued reports on the stock. Bank of America upped their price target on shares of Boise Cascade from $120.00 to $124.00 and gave the company an "underperform" rating in a research note on Thursday, September 12th. StockNews.com downgraded shares of Boise Cascade from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. BMO Capital Markets lifted their price target on Boise Cascade from $130.00 to $136.00 and gave the stock a "market perform" rating in a research report on Tuesday, October 22nd. Loop Capital started coverage on Boise Cascade in a research report on Friday, November 1st. They set a "buy" rating and a $155.00 price objective on the stock. Finally, Truist Financial dropped their target price on Boise Cascade from $161.00 to $157.00 and set a "buy" rating for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $138.80.

Boise Cascade Price Performance

The stock's 50 day simple moving average is $134.77 and its 200-day simple moving average is $132.82. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of 11.33 and a beta of 1.58. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13.

Boise Cascade (NYSE:BCC - Get Free Report) last released its 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). The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.72 billion. Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. Boise Cascade's revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the company earned $3.58 earnings per share. Equities research analysts anticipate that Boise Cascade will post 9.57 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

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

Institutional Investors Weigh In On Boise Cascade

Hedge funds have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. purchased a new position in shares of Boise Cascade during the 3rd quarter valued at about $28,000. Larson Financial Group LLC raised its position in Boise Cascade by 23.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the construction company's stock valued at $53,000 after acquiring an additional 73 shares in the last quarter. CWM LLC lifted its holdings in Boise Cascade by 26.5% in the third quarter. CWM LLC now owns 673 shares of the construction company's stock valued at $95,000 after acquiring an additional 141 shares during the period. Covestor Ltd lifted its stake in shares of Boise Cascade by 50.1% in the 3rd quarter. Covestor Ltd now owns 689 shares of the construction company's stock valued at $97,000 after purchasing an additional 230 shares during the period. Finally, KBC Group NV boosted its stake in shares of Boise Cascade by 19.0% during the 3rd quarter. KBC Group NV now owns 1,226 shares of the construction company's stock worth $173,000 after acquiring an additional 196 shares in the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

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.