Short Interest in Boise Cascade (NYSE:BCC) Rises By 5.2%

Boise Cascade (NYSE:BCC - Get Free Report) saw a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 1,040,000 shares, an increase of 5.2% from the November 15th total of 988,400 shares. Based on an average daily volume of 288,700 shares, the days-to-cover ratio is presently 3.6 days. Currently, 2.7% of the company's shares are sold short.

Institutional Trading of Boise Cascade

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its position in shares of Boise Cascade by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,813,447 shares of the construction company's stock worth $335,419,000 after acquiring an additional 22,053 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in Boise Cascade by 107.7% in the second quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company's stock worth $133,278,000 after purchasing an additional 579,759 shares in the last quarter. American Century Companies Inc. raised its holdings in Boise Cascade by 2.4% in the second quarter. American Century Companies Inc. now owns 897,137 shares of the construction company's stock worth $106,957,000 after purchasing an additional 21,030 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Boise Cascade by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company's stock valued at $61,680,000 after buying an additional 9,128 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Boise Cascade by 46.0% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company's stock valued at $45,661,000 after buying an additional 120,600 shares in the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Boise Cascade Trading Down 0.0 %

Shares of Boise Cascade stock traded down $0.01 during midday trading on Monday, reaching $136.25. 206,474 shares of the company's stock traded hands, compared to its average volume of 299,892. The stock has a 50 day moving average of $141.14 and a 200-day moving average of $133.86. Boise Cascade has a 12 month low of $113.89 and a 12 month high of $155.42. The company has a market cap of $5.23 billion, a PE ratio of 13.35 and a beta of 1.53. 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 issued its quarterly earnings data on Monday, November 4th. The construction company reported $2.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.37 by ($0.04). Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The company had revenue of $1.71 billion for the quarter, compared to analysts' expectations of $1.72 billion. During the same period in the previous year, the firm posted $3.58 earnings per share. The firm's revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, equities analysts expect that Boise Cascade will post 9.57 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Monday, December 2nd. Boise Cascade's payout ratio is currently 8.22%.

Wall Street Analysts Forecast Growth

BCC has been the topic of several recent research reports. BMO Capital Markets raised their price target on Boise Cascade from $130.00 to $136.00 and gave the stock a "market perform" rating in a research report on Tuesday, October 22nd. Bank of America raised their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an "underperform" rating in a report on Thursday, September 12th. Truist Financial lifted their target price on shares of Boise Cascade from $154.00 to $161.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. StockNews.com cut shares of Boise Cascade from a "buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Finally, Loop Capital assumed coverage on shares of Boise Cascade in a research report on Friday, November 1st. They issued a "buy" rating and a $155.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $139.60.

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.