Boise Cascade (NYSE:BCC) Downgraded by StockNews.com

StockNews.com lowered shares of Boise Cascade (NYSE:BCC) from a buy rating to a hold rating in a report published on Tuesday morning.

A number of other equities analysts have also weighed in on the stock. The Goldman Sachs Group cut 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. Truist Financial cut their price target on Boise Cascade from $175.00 to $159.00 and set a buy rating for the company in a report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $124.75.

Boise Cascade Stock Up 2.2 %

BCC stock opened at $126.84 on Tuesday. Boise Cascade has a one year low of $87.32 and a one year high of $154.67. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.05 and a current ratio of 3.24. The company has a fifty day moving average of $127.31 and a 200-day moving average of $134.50. The stock has a market capitalization of $5.01 billion, a PE ratio of 10.31 and a beta of 1.50.

Boise Cascade (NYSE:BCC) last posted its earnings results on Monday, August 5th. The construction company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.16. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.77 billion. Boise Cascade had a return on equity of 22.00% and a net margin of 7.08%. Boise Cascade’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $3.67 earnings per share. As a group, analysts expect that Boise Cascade will post 10.41 EPS for the current year.

Boise Cascade Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.66%. Boise Cascade’s dividend payout ratio is currently 6.83%.

Insider Activity

In other news, SVP Jill Twedt sold 1,852 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $135.00, for a total transaction 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 $5,053,995. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.98% of the company’s stock.

Institutional Investors Weigh In On Boise Cascade

Several institutional investors have recently made changes to their positions in BCC. Norges Bank bought a new stake in shares of Boise Cascade during the 4th quarter worth about $60,383,000. Price T Rowe Associates Inc. MD raised its holdings in Boise Cascade by 293.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 236,980 shares of the construction company’s stock worth $36,346,000 after acquiring an additional 176,738 shares during the period. LSV Asset Management lifted its position in Boise Cascade by 55.0% during the 4th quarter. LSV Asset Management now owns 446,057 shares of the construction company’s stock worth $57,702,000 after acquiring an additional 158,363 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in Boise Cascade by 358.0% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 133,961 shares of the construction company’s stock valued at $17,329,000 after acquiring an additional 104,713 shares during the period. Finally, Wedge Capital Management L L P NC boosted its holdings in Boise Cascade by 1,572.6% during the fourth quarter. Wedge Capital Management L L P NC now owns 110,445 shares of the construction company’s stock valued at $14,287,000 after acquiring an additional 103,842 shares during the period. 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.