Boise Cascade (NYSE:BCC) Short Interest Down 7.5% in December

Boise Cascade (NYSE:BCC - Get Free Report) was the target of a large decline in short interest in the month of December. As of December 15th, there was short interest totalling 962,300 shares, a decline of 7.5% from the November 30th total of 1,040,000 shares. Currently, 2.5% of the company's shares are short sold. Based on an average trading volume of 268,100 shares, the short-interest ratio is currently 3.6 days.

Boise Cascade Stock Up 0.1 %

Shares of BCC traded up $0.07 during midday trading on Wednesday, hitting $118.86. The company had a trading volume of 187,258 shares, compared to its average volume of 305,693. The firm has a market capitalization of $4.56 billion, a P/E ratio of 11.63 and a beta of 1.53. The company's 50-day simple moving average is $136.79 and its 200-day simple moving average is $133.16. Boise Cascade has a 1 year low of $113.89 and a 1 year high of $155.42. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.37 by ($0.04). Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The business had revenue of $1.71 billion for the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter in the previous year, the firm earned $3.58 EPS. Boise Cascade's revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, sell-side analysts expect that Boise Cascade will post 9.57 EPS for the current year.

Boise Cascade Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Monday, December 2nd. Boise Cascade's dividend payout ratio (DPR) is 8.22%.

Institutional Investors Weigh In On Boise Cascade

A number of institutional investors and hedge funds have recently bought and sold shares of BCC. Franklin Resources Inc. grew its holdings in shares of Boise Cascade by 0.8% during the third quarter. Franklin Resources Inc. now owns 43,958 shares of the construction company's stock worth $6,285,000 after purchasing an additional 335 shares during the last quarter. Tidal Investments LLC boosted its position in shares of Boise Cascade by 341.9% in the 3rd quarter. Tidal Investments LLC now owns 15,808 shares of the construction company's stock valued at $2,229,000 after purchasing an additional 12,231 shares during the period. World Investment Advisors LLC purchased a new position in Boise Cascade during the 3rd quarter worth approximately $3,995,000. Sanctuary Advisors LLC lifted its stake in Boise Cascade by 11.0% in the third quarter. Sanctuary Advisors LLC now owns 6,937 shares of the construction company's stock valued at $997,000 after buying an additional 686 shares during the last quarter. Finally, Invst LLC boosted its holdings in shares of Boise Cascade by 2.6% in the third quarter. Invst LLC now owns 5,060 shares of the construction company's stock valued at $713,000 after acquiring an additional 128 shares during the period. 96.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BCC has been the subject of a number of research analyst reports. BMO Capital Markets increased their price objective on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a "market perform" rating in a research report on Tuesday, October 22nd. StockNews.com lowered Boise Cascade from a "buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Bank of America boosted their price objective on Boise Cascade from $120.00 to $124.00 and gave the company an "underperform" rating in a report on Thursday, September 12th. Truist Financial raised their target price on Boise Cascade from $154.00 to $161.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. Finally, Loop Capital began coverage on shares of Boise Cascade in a research note on Friday, November 1st. They set a "buy" rating and a $155.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $139.60.

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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