Boise Cascade (NYSE:BCC) Announces Dividend Increase – $0.21 Per Share

Boise Cascade (NYSE:BCC) announced a quarterly dividend on Thursday, August 1st, Wall Street Journal reports. Stockholders of record on Tuesday, September 3rd will be given a dividend of 0.21 per share by the construction company on Monday, September 16th. This represents a $0.84 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is an increase from Boise Cascade’s previous quarterly dividend of $0.20.

Boise Cascade has increased its dividend by an average of 20.5% per year over the last three years. Boise Cascade has a dividend payout ratio of 7.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Boise Cascade to earn $11.27 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 7.1%.

Boise Cascade Stock Performance

NYSE BCC opened at $128.89 on Friday. The company’s 50 day moving average is $128.11 and its 200-day moving average is $134.67. Boise Cascade has a 12-month low of $87.32 and a 12-month high of $154.67. The company has a quick ratio of 2.05, a current ratio of 3.24 and a debt-to-equity ratio of 0.21. The firm has a market cap of $5.09 billion, a P/E ratio of 10.48 and a beta of 1.50.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings results on Monday, May 6th. The construction company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.31. Boise Cascade had a net margin of 7.08% and a return on equity of 22.00%. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the previous year, the firm posted $2.43 earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. Sell-side analysts predict that Boise Cascade will post 10.41 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on BCC shares. StockNews.com raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. Truist Financial decreased their target price on shares of Boise Cascade from $175.00 to $159.00 and set a “buy” rating on the stock in a report on Tuesday, July 16th. Finally, The Goldman Sachs Group decreased their target price on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. One equities research 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $126.00.

Insider Buying and Selling at Boise Cascade

In other Boise Cascade news, EVP Jeffrey Robert Strom sold 2,500 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $135.00, for a total transaction of $337,500.00. Following the completion of the sale, the executive vice president now owns 43,353 shares of the company’s stock, valued at approximately $5,852,655. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Jill Twedt sold 1,852 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $135.00, for a total value of $250,020.00. Following the completion of the sale, the senior vice president now directly owns 37,437 shares of the company’s stock, valued at approximately $5,053,995. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jeffrey Robert Strom sold 2,500 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 43,353 shares of the company’s stock, valued at $5,852,655. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by corporate insiders.

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.