Boise Cascade (NYSE:BCC) Short Interest Update

Boise Cascade (NYSE:BCC - Get Free Report) saw a large growth in short interest in December. As of December 31st, there was short interest totalling 1,150,000 shares, a growth of 19.5% from the December 15th total of 962,300 shares. Currently, 3.0% of the shares of the company are short sold. Based on an average trading volume of 269,000 shares, the days-to-cover ratio is presently 4.3 days.

Hedge Funds Weigh In On Boise Cascade

Several hedge funds have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new stake in Boise Cascade in the third quarter worth $28,000. Larson Financial Group LLC increased its stake in 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 buying an additional 73 shares during the period. CWM LLC lifted its holdings in Boise Cascade by 26.5% during the 3rd quarter. CWM LLC now owns 673 shares of the construction company's stock valued at $95,000 after buying an additional 141 shares in the last quarter. Covestor Ltd boosted its position in Boise Cascade by 50.1% in the 3rd quarter. Covestor Ltd now owns 689 shares of the construction company's stock valued at $97,000 after buying an additional 230 shares during the period. Finally, KBC Group NV grew its stake in Boise Cascade by 19.0% in the 3rd quarter. KBC Group NV now owns 1,226 shares of the construction company's stock worth $173,000 after acquiring an additional 196 shares in the last quarter. 96.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BCC shares. BMO Capital Markets upped 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 report on Tuesday, October 22nd. The Goldman Sachs Group cut their price target on Boise Cascade from $145.00 to $126.00 and set a "neutral" rating for the company in a research note on Tuesday, January 14th. Truist Financial lowered their price objective on Boise Cascade from $161.00 to $157.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Loop Capital initiated coverage on Boise Cascade in a research note on Friday, November 1st. They set a "buy" rating and a $155.00 target price on the stock. Finally, StockNews.com downgraded Boise Cascade from a "buy" rating to a "hold" rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $139.60.

Boise Cascade Trading Down 0.2 %

BCC traded down $0.21 on Monday, hitting $128.25. The company had a trading volume of 486,114 shares, compared to its average volume of 306,713. The business's fifty day simple moving average is $132.70 and its 200 day simple moving average is $133.34. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22. Boise Cascade has a 12-month low of $113.38 and a 12-month high of $155.42. The company has a market cap of $4.92 billion, a PE ratio of 12.55 and a beta of 1.58.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its earnings results on Monday, November 4th. The construction company reported $2.33 EPS for the quarter, missing analysts' consensus estimates of $2.37 by ($0.04). The company had revenue of $1.71 billion during the quarter, compared to analysts' expectations of $1.72 billion. Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. Boise Cascade's revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.58 EPS. Equities research analysts expect that Boise Cascade will post 9.6 EPS for the current year.

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were issued a $0.21 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 0.65%. Boise Cascade's dividend payout ratio (DPR) is presently 8.22%.

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.