Boise Cascade (NYSE:BCC) Shares Down 5.3% - What's Next?

Boise Cascade (NYSE:BCC - Get Free Report)'s stock price fell 5.3% during trading on Tuesday . The stock traded as low as $130.14 and last traded at $131.25. 69,263 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 307,803 shares. The stock had previously closed at $138.62.

Wall Street Analyst Weigh In

Several research firms have commented on BCC. StockNews.com upgraded shares of Boise Cascade from a "hold" rating to a "buy" rating in a research note on Tuesday, October 8th. BMO Capital Markets boosted their price target on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a "market perform" rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group decreased their price objective on shares of Boise Cascade from $140.00 to $122.00 and set a "neutral" rating for the company in a research report on Wednesday, July 10th. Bank of America lifted their price objective on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an "underperform" rating in a research report on Thursday, September 12th. Finally, Truist Financial lifted their price objective on shares of Boise Cascade from $154.00 to $161.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned 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 $135.75.

Boise Cascade Trading Down 5.0 %

The stock has a market capitalization of $5.20 billion, a PE ratio of 10.71 and a beta of 1.52. The company has a quick ratio of 2.08, a current ratio of 3.28 and a debt-to-equity ratio of 0.21. The business's 50-day moving average is $135.99 and its two-hundred day moving average is $132.77.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its earnings results on Monday, August 5th. The construction company reported $2.84 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.16. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The business had revenue of $1.80 billion during the quarter, compared to analysts' expectations of $1.77 billion. During the same period in the prior year, the company earned $3.67 earnings per share. The business's revenue was down 1.0% compared to the same quarter last year. On average, analysts anticipate that Boise Cascade will post 9.71 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.64%. This is a positive change from Boise Cascade's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, September 3rd. Boise Cascade's payout ratio is 6.83%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BCC. Westwood Holdings Group Inc. increased its stake in shares of Boise Cascade by 107.7% during the second quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company's stock worth $133,278,000 after acquiring an additional 579,759 shares during the period. Marshall Wace LLP grew its position in shares of Boise Cascade by 2,978.4% in the second quarter. Marshall Wace LLP now owns 191,047 shares of the construction company's stock valued at $22,777,000 after purchasing an additional 184,841 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Boise Cascade by 293.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 236,980 shares of the construction company's stock valued at $36,346,000 after purchasing an additional 176,738 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in shares of Boise Cascade by 46.0% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company's stock valued at $45,661,000 after purchasing an additional 120,600 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Boise Cascade by 76.4% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 88,132 shares of the construction company's stock valued at $13,517,000 after purchasing an additional 38,173 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

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.