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

Boise Cascade (NYSE:BCC - Get Free Report) shares hit a new 52-week low during trading on Monday . The company traded as low as $95.30 and last traded at $96.77, with a volume of 9723 shares traded. The stock had previously closed at $98.30.

Wall Street Analyst Weigh In

A number of analysts have issued reports on BCC shares. DA Davidson reduced their price target on shares of Boise Cascade from $155.00 to $125.00 and set a "buy" rating on the stock in a report on Monday, February 24th. Truist Financial cut 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 report on Tuesday, February 25th. BMO Capital Markets decreased their price objective on shares of Boise Cascade from $136.00 to $122.00 and set a "market perform" rating for the company in a research note on Tuesday, February 25th. Finally, Loop Capital dropped 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 equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $128.50.

Boise Cascade Stock Performance

The firm has a fifty day moving average of $109.88 and a 200-day moving average of $126.53. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 9.98 and a beta of 1.67. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22.

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

Boise Cascade Dividend Announcement

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

Insider Activity

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of Boise Cascade stock in a transaction 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 completion of the transaction, the director now owns 13,099 shares of the company's stock, valued at $1,351,292.84. The trade was a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Jeffrey Robert Strom sold 4,500 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total transaction of $450,945.00. Following the sale, the chief operating officer now directly owns 38,026 shares of the company's stock, valued at approximately $3,810,585.46. This represents a 10.58 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.98% of the company's stock.

Institutional Investors Weigh In On Boise Cascade

A number of hedge funds have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Boise Cascade during the 4th quarter worth $9,894,000. Mackenzie Financial Corp boosted its position in shares of Boise Cascade by 263.7% in the 4th quarter. Mackenzie Financial Corp now owns 19,142 shares of the construction company's stock valued at $2,275,000 after purchasing an additional 13,879 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Boise Cascade by 3.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 50,833 shares of the construction company's stock worth $6,042,000 after buying an additional 1,471 shares during the period. Vise Technologies Inc. raised its stake in Boise Cascade by 3.4% during the 4th quarter. Vise Technologies Inc. now owns 3,021 shares of the construction company's stock valued at $359,000 after purchasing an additional 100 shares during the period. Finally, Voloridge Investment Management LLC raised its position in Boise Cascade by 80.9% during the fourth quarter. Voloridge Investment Management LLC now owns 15,702 shares of the construction company's stock valued at $1,866,000 after buying an additional 7,021 shares during the period. 96.18% of the stock is currently owned by institutional investors.

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.