Boise Cascade Co (NYSE:BCC) was the target of a large growth in short interest during the month of December. As of December 13th, there was short interest totalling 1,390,000 shares, a growth of 6.1% from the November 28th total of 1,310,000 shares. Approximately 3.6% of the shares of the company are short sold. Based on an average daily volume of 305,300 shares, the short-interest ratio is presently 4.6 days.
A number of equities research analysts recently commented on BCC shares. ValuEngine lowered Boise Cascade from a “hold” rating to a “sell” rating in a research report on Friday, December 13th. DA Davidson lowered Boise Cascade from a “buy” rating to a “neutral” rating and set a $40.00 price target on the stock. in a research report on Friday, November 8th. Vertical Research lowered Boise Cascade from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Zacks Investment Research lowered Boise Cascade from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Boise Cascade presently has an average rating of “Hold” and an average price target of $32.40.
NYSE:BCC opened at $37.10 on Tuesday. The stock’s fifty day moving average price is $37.99 and its two-hundred day moving average price is $32.15. Boise Cascade has a 52-week low of $22.10 and a 52-week high of $40.13. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.42 and a current ratio of 2.53. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 16.20 and a beta of 2.05.
Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Thursday, November 7th. The construction company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.01. Boise Cascade had a positive return on equity of 8.10% and a negative net margin of 0.13%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the business earned $0.76 EPS. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, equities analysts predict that Boise Cascade will post 1.94 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.10 per share. This is an increase from Boise Cascade’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.40 annualized dividend and a yield of 1.08%. Boise Cascade’s dividend payout ratio is currently 17.47%.
In other Boise Cascade news, insider Stewart David purchased 196,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were acquired at an average cost of $0.23 per share, for a total transaction of $45,276.00. Also, EVP Dean Michael Brown sold 2,529 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $37.64, for a total value of $95,191.56. Following the sale, the executive vice president now owns 26,667 shares in the company, valued at $1,003,745.88. The disclosure for this sale can be found here. Insiders have sold a total of 58,940 shares of company stock valued at $2,248,861 in the last three months. 1.50% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. Nuveen Asset Management LLC acquired a new position in shares of Boise Cascade in the 2nd quarter valued at $19,081,000. BlackRock Inc. raised its stake in Boise Cascade by 4.1% during the 2nd quarter. BlackRock Inc. now owns 6,503,241 shares of the construction company’s stock worth $182,807,000 after buying an additional 259,027 shares during the period. Man Group plc raised its stake in Boise Cascade by 150.6% during the 2nd quarter. Man Group plc now owns 257,269 shares of the construction company’s stock worth $7,232,000 after buying an additional 154,600 shares during the period. Marshall Wace North America L.P. raised its stake in Boise Cascade by 1,022.9% during the 2nd quarter. Marshall Wace North America L.P. now owns 143,530 shares of the construction company’s stock worth $4,034,000 after buying an additional 130,748 shares during the period. Finally, Macquarie Group Ltd. raised its stake in Boise Cascade by 7.0% during the 2nd quarter. Macquarie Group Ltd. now owns 1,927,804 shares of the construction company’s stock worth $54,191,000 after buying an additional 126,776 shares during the period. 92.37% of the stock is currently owned by hedge funds and other institutional investors.
Boise Cascade Company Profile
Boise Cascade Company manufactures wood products and distributes building materials in the United States and Canada. It operates in 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; and structural, appearance, and industrial plywood panels.
