Boise Cascade (NYSE:BCC) Reaches New 1-Year Low - Should You Sell?

Boise Cascade (NYSE:BCC - Get Free Report)'s share price reached a new 52-week low on Thursday . The stock traded as low as $97.01 and last traded at $96.58, with a volume of 20076 shares changing hands. The stock had previously closed at $98.21.

Analyst Ratings Changes

A number of research analysts have recently weighed in on BCC shares. The Goldman Sachs Group dropped their price target on Boise Cascade from $145.00 to $126.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. BMO Capital Markets dropped their target price on shares of Boise Cascade from $136.00 to $122.00 and set a "market perform" rating for the company in a report on Tuesday, February 25th. Truist Financial reduced their price target on shares of Boise Cascade from $157.00 to $134.00 and set a "buy" rating on the stock in a report on Monday, February 24th. Benchmark reissued a "hold" rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Finally, Loop Capital lowered their target price on Boise Cascade from $145.00 to $140.00 and set a "buy" rating on the stock in a report on Monday, February 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Boise Cascade 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 $3.66 billion, a PE ratio of 10.12 and a beta of 1.67. The company's 50 day simple moving average is $117.35 and its 200 day simple moving average is $129.84. 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 earnings results on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.01). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.57 billion. On average, equities analysts anticipate that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Monday, February 24th. This represents a $0.84 annualized dividend and a dividend yield of 0.87%. Boise Cascade's payout ratio is currently 8.79%.

Insider Activity at Boise Cascade

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 the business's stock in a transaction that occurred 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. 1.05% of the stock is owned by insiders.

Hedge Funds Weigh In On Boise Cascade

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Boise Cascade in the fourth quarter valued at about $9,894,000. Mackenzie Financial Corp increased its holdings in Boise Cascade by 263.7% in the fourth quarter. Mackenzie Financial Corp now owns 19,142 shares of the construction company's stock valued at $2,275,000 after buying an additional 13,879 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Boise Cascade by 3.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 50,833 shares of the construction company's stock valued at $6,042,000 after acquiring an additional 1,471 shares in the last quarter. Vise Technologies Inc. raised its holdings in shares of Boise Cascade by 3.4% during the fourth quarter. Vise Technologies Inc. now owns 3,021 shares of the construction company's stock worth $359,000 after purchasing an additional 100 shares during the period. Finally, Voloridge Investment Management LLC lifted its holdings in Boise Cascade by 80.9% in the fourth quarter. Voloridge Investment Management LLC now owns 15,702 shares of the construction company's stock worth $1,866,000 after acquiring an additional 7,021 shares during the last quarter. Institutional investors and hedge funds 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.

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