Short Interest in Boise Cascade (NYSE:BCC) Decreases By 33.8%

Boise Cascade (NYSE:BCC - Get Free Report) was the recipient of a significant drop in short interest during the month of June. As of June 15th, there was short interest totalling 1,040,000 shares, a drop of 33.8% from the May 31st total of 1,570,000 shares. Based on an average daily trading volume, of 320,400 shares, the short-interest ratio is presently 3.2 days. Currently, 2.7% of the company's shares are sold short.

Boise Cascade Stock Up 0.5 %

NYSE BCC traded up $0.65 during trading on Friday, hitting $119.22. The stock had a trading volume of 1,196,231 shares, compared to its average volume of 305,614. The company has a market capitalization of $4.71 billion, a PE ratio of 9.69 and a beta of 1.57. The company's 50-day moving average price is $132.32 and its two-hundred day moving average price is $134.47. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.05 and a current ratio of 3.24. Boise Cascade has a 12 month low of $86.43 and a 12 month high of $154.67.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its quarterly earnings results on Monday, May 6th. The construction company reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.31. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.56 billion. Boise Cascade had a return on equity of 22.00% and a net margin of 7.08%. The business's quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.43 EPS. As a group, sell-side analysts forecast that Boise Cascade will post 10.84 EPS for the current year.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Monday, June 3rd. Boise Cascade's dividend payout ratio (DPR) is 6.50%.

Insiders Place Their Bets

In other news, EVP Jeffrey Robert Strom sold 2,500 shares of Boise Cascade stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $135.00, for a total transaction of $337,500.00. Following the transaction, the executive vice president now owns 43,353 shares in the company, valued at approximately $5,852,655. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Jill Twedt sold 1,852 shares of Boise Cascade stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $135.00, for a total transaction of $250,020.00. Following the transaction, the senior vice president now owns 37,437 shares in the company, valued at approximately $5,053,995. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey Robert Strom sold 2,500 shares of Boise Cascade stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $135.00, for a total value of $337,500.00. Following the transaction, the executive vice president now owns 43,353 shares in the company, valued at approximately $5,852,655. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,352 shares of company stock worth $587,520. Insiders own 0.98% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Boise Cascade by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 4,709,276 shares of the construction company's stock worth $609,192,000 after purchasing an additional 35,963 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Boise Cascade by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,801,903 shares of the construction company's stock worth $362,456,000 after acquiring an additional 28,952 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Boise Cascade by 45.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,349,170 shares of the construction company's stock worth $139,018,000 after acquiring an additional 418,891 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Boise Cascade by 59.7% during the 4th quarter. Pacer Advisors Inc. now owns 1,096,986 shares of the construction company's stock worth $141,906,000 after acquiring an additional 409,906 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Boise Cascade by 14.2% during the 3rd quarter. American Century Companies Inc. now owns 701,301 shares of the construction company's stock worth $72,262,000 after acquiring an additional 87,411 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on BCC. StockNews.com upgraded Boise Cascade from a "hold" rating to a "buy" rating in a research note on Tuesday, May 7th. Truist Financial boosted their target price on Boise Cascade from $156.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Boise Cascade currently has an average rating of "Hold" and a consensus target price of $131.75.

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.