Short Interest in Boise Cascade (NYSE:BCC) Declines By 41.6%

Boise Cascade (NYSE:BCC - Get Free Report) saw a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 642,800 shares, a decline of 41.6% from the February 28th total of 1,100,000 shares. Approximately 1.7% of the shares of the company are short sold. Based on an average daily volume of 390,300 shares, the days-to-cover ratio is presently 1.6 days.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BCC shares. Benchmark restated a "hold" rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Truist Financial reduced their price objective on Boise Cascade from $157.00 to $134.00 and set a "buy" rating on the stock in a research report on Monday, February 24th. DA Davidson cut their target price on Boise Cascade from $155.00 to $125.00 and set a "buy" rating for the company in a research note on Monday, February 24th. The Goldman Sachs Group reduced their price target on shares of Boise Cascade from $145.00 to $126.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 14th. Finally, Loop Capital lowered their price objective on shares of Boise Cascade from $145.00 to $140.00 and set a "buy" rating for the company in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $128.50.

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Insider Activity at Boise Cascade

In other news, Director Kristopher J. Matula sold 553 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total transaction of $57,047.48. Following the completion of the transaction, the director now directly owns 13,099 shares in the company, valued at $1,351,292.84. The trade was a 4.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jeffrey Robert Strom sold 4,500 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total value of $450,945.00. Following the completion of the sale, the chief operating officer now owns 38,026 shares in the company, valued at $3,810,585.46. This trade represents a 10.58 % decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boise Cascade

Large investors have recently made changes to their positions in the business. R Squared Ltd purchased a new stake in Boise Cascade in the fourth quarter worth $29,000. Quarry LP lifted its position in shares of Boise Cascade by 502.4% in the 4th quarter. Quarry LP now owns 253 shares of the construction company's stock worth $30,000 after purchasing an additional 211 shares during the period. Larson Financial Group LLC lifted its position in shares of Boise Cascade by 23.9% in the 3rd 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 period. Principal Securities Inc. boosted its stake in shares of Boise Cascade by 44.2% during the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company's stock valued at $56,000 after purchasing an additional 145 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Boise Cascade by 254.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company's stock valued at $92,000 after buying an additional 558 shares during the period. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Trading Up 3.2 %

Shares of NYSE BCC traded up $3.12 during mid-day trading on Wednesday, hitting $102.03. The stock had a trading volume of 284,106 shares, compared to its average volume of 370,112. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34. Boise Cascade has a 1 year low of $95.30 and a 1 year high of $155.42. The business has a 50 day moving average price of $111.07 and a two-hundred day moving average price of $126.93. The firm has a market cap of $3.87 billion, a P/E ratio of 10.67 and a beta of 1.67.

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

Boise Cascade Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date was Monday, February 24th. Boise Cascade's payout ratio is 8.79%.

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.