Boise Cascade (NYSE:BCC) Sets New 1-Year Low After Insider Selling

Boise Cascade (NYSE:BCC - Get Free Report)'s stock price hit a new 52-week low on Thursday following insider selling activity. The company traded as low as $102.17 and last traded at $102.71, with a volume of 22958 shares. The stock had previously closed at $104.07.

Specifically, Director Kristopher J. Matula sold 553 shares of the firm's 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 transaction, the director now directly owns 13,099 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

BCC has been the topic of a number of analyst reports. The Goldman Sachs Group lowered their target price on shares of Boise Cascade from $145.00 to $126.00 and set a "neutral" rating on the stock in a report on Tuesday, January 14th. Truist Financial lowered their price objective on Boise Cascade from $157.00 to $134.00 and set a "buy" rating for the company in a research note on Monday, February 24th. Benchmark reaffirmed a "hold" rating on shares of Boise Cascade in a research report on Tuesday, February 25th. StockNews.com downgraded Boise Cascade from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. Finally, BMO Capital Markets dropped their price objective on Boise Cascade from $136.00 to $122.00 and set a "market perform" rating on the stock in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $128.50.

Boise Cascade Trading Down 1.1 %

The firm has a fifty day moving average price of $120.73 and a 200-day moving average price of $131.54. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92. The company has a market capitalization of $3.89 billion, a P/E ratio of 10.72 and a beta of 1.57.

Boise Cascade (NYSE:BCC - Get Free Report) last released its earnings results 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). 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 for the quarter, compared to the consensus estimate of $1.57 billion. On average, equities research analysts anticipate that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $0.84 annualized dividend and a dividend yield of 0.82%. Boise Cascade's payout ratio is 8.79%.

Institutional Investors Weigh In On Boise Cascade

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. purchased a new stake in shares of Boise Cascade in the third quarter worth about $28,000. R Squared Ltd bought a new position in shares of Boise Cascade during the 4th quarter valued at about $29,000. Quarry LP grew its position in 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 acquiring an additional 211 shares during the last quarter. Larson Financial Group LLC lifted its stake in Boise Cascade by 23.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the construction company's stock worth $53,000 after purchasing an additional 73 shares during the last quarter. Finally, Principal Securities Inc. lifted its stake in shares of Boise Cascade by 44.2% in the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company's stock valued at $56,000 after acquiring an additional 145 shares during the last quarter. 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.