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

Boise Cascade (NYSE:BCC - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $89.10 and last traded at $92.25, with a volume of 107918 shares changing hands. The stock had previously closed at $95.44.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BCC. Loop Capital dropped their price target on Boise Cascade from $145.00 to $140.00 and set a "buy" rating for the company in a research note on Monday, February 24th. DA Davidson lowered their price target on Boise Cascade from $155.00 to $125.00 and set a "buy" rating for the company in a report on Monday, February 24th. BMO Capital Markets dropped their price objective on Boise Cascade from $136.00 to $122.00 and set a "market perform" rating for the company in a research report on Tuesday, February 25th. The Goldman Sachs Group lowered their target price on Boise Cascade from $145.00 to $126.00 and set a "neutral" rating for the company in a research note on Tuesday, January 14th. Finally, Truist Financial dropped their target price on shares of Boise Cascade from $157.00 to $134.00 and set a "buy" rating for the company in a report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $128.50.

Boise Cascade Price Performance

The stock has a market capitalization of $3.62 billion, a P/E ratio of 9.99 and a beta of 1.52. The business has a fifty day simple moving average of $104.66 and a 200 day simple moving average of $124.05. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22.

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Boise Cascade (NYSE:BCC - Get Free Report) last released its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $1.57 billion. On average, analysts expect that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th were paid a $0.21 dividend. The ex-dividend date was Monday, February 24th. This represents a $0.84 annualized dividend and a yield of 0.88%. Boise Cascade's dividend payout ratio (DPR) is 8.79%.

Insider Activity

In other news, COO Jeffrey Robert Strom sold 4,500 shares of the 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 completion of the transaction, the chief operating officer now owns 38,026 shares in the company, valued at approximately $3,810,585.46. This represents a 10.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kristopher J. Matula sold 553 shares of the business's stock in a transaction dated 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 owns 13,099 shares in the company, valued at $1,351,292.84. This represents a 4.05 % 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 corporate insiders.

Hedge Funds Weigh In On Boise Cascade

Several large investors have recently modified their holdings of BCC. R Squared Ltd bought a new stake in Boise Cascade during the 4th quarter valued at $29,000. Quarry LP raised its stake 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 purchasing an additional 211 shares during the period. Principal Securities Inc. lifted its holdings in Boise Cascade by 44.2% during the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company's stock worth $56,000 after purchasing an additional 145 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in 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 period. Finally, Curat Global LLC purchased a new position in Boise Cascade during the 1st quarter valued at about $122,000. Hedge funds and other 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.