Boise Cascade (NYSE:BCC) Hits New 1-Year Low - Time to Sell?

Shares of Boise Cascade (NYSE:BCC - Get Free Report) reached a new 52-week low during trading on Wednesday . The company traded as low as $97.21 and last traded at $98.20, with a volume of 431294 shares. The stock had previously closed at $102.16.

Analyst Ratings Changes

A number of equities analysts have commented on BCC shares. DA Davidson cut their price target on shares of Boise Cascade from $155.00 to $125.00 and set a "buy" rating for the company in a research note on Monday, February 24th. StockNews.com cut shares of Boise Cascade from a "buy" rating to a "hold" rating in a research note on Wednesday, November 6th. Benchmark reaffirmed a "hold" rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Truist Financial dropped their price target on shares of Boise Cascade from $157.00 to $134.00 and set a "buy" rating for the company in a research report on Monday, February 24th. Finally, The Goldman Sachs Group dropped their price target 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Boise Cascade presently has a consensus rating of "Hold" and a consensus price target of $128.50.

Boise Cascade Stock Performance

The firm has a market capitalization of $3.73 billion, a P/E ratio of 10.27 and a beta of 1.57. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22. The business's 50 day simple moving average is $120.34 and its two-hundred day simple moving average is $131.36.

Boise Cascade (NYSE:BCC - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 earnings per share for the quarter, missing analysts' consensus estimates of $1.79 by ($0.01). The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. Sell-side analysts anticipate that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Monday, February 24th. Boise Cascade's payout ratio is presently 8.79%.

Insider Activity

In other Boise Cascade 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 transaction of $57,047.48. Following the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.98% of the company's stock.

Institutional Investors Weigh In On Boise Cascade

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BCC. Harbor Capital Advisors Inc. bought a new stake in Boise Cascade during the 3rd quarter worth approximately $28,000. R Squared Ltd bought a new stake in shares of Boise Cascade during the fourth quarter valued at approximately $29,000. Quarry LP raised its position in shares of Boise Cascade by 502.4% during the fourth quarter. Quarry LP now owns 253 shares of the construction company's stock valued at $30,000 after buying an additional 211 shares during the last quarter. Larson Financial Group LLC raised its position in shares of 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 buying an additional 73 shares during the last quarter. Finally, Principal Securities Inc. raised its position in shares of Boise Cascade by 44.2% during the fourth quarter. Principal Securities Inc. now owns 473 shares of the construction company's stock valued at $56,000 after buying an additional 145 shares during the last quarter. 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.

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