Boise Cascade, L.L.C. (NYSE:BCC) Plans Quarterly Dividend of $0.22

Key Points

• Boise Cascade has declared a quarterly dividend of $0.22 per share, a 4.8% increase from the previous dividend of $0.21, representing an annual yield of 1.1%.
• The company has a dividend payout ratio of 10.4%, which indicates that its dividend is well covered by earnings, with expectations of $11.90 earnings per share in the coming year.
• Boise Cascade reported earnings of $1.06 per share in its latest quarter, missing analyst expectations, and a revenue decrease of 6.6% year-over-year, bringing total revenue to $1.54 billion.

Boise Cascade, L.L.C. (NYSE:BCC - Get Free Report) declared a quarterly dividend on Thursday, July 31st, RTT News reports. Shareholders of record on Tuesday, September 2nd will be given a dividend of 0.22 per share by the construction company on Wednesday, September 17th. This represents a c) dividend on an annualized basis and a yield of 1.1%. This is a 4.8% increase from Boise Cascade's previous quarterly dividend of $0.21.

Boise Cascade has a dividend payout ratio of 10.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Boise Cascade to earn $11.90 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 7.1%.

Boise Cascade Price Performance

NYSE:BCC traded down $1.09 during trading hours on Thursday, reaching $83.80. 300,120 shares of the company were exchanged, compared to its average volume of 350,239. The company has a current ratio of 2.82, a quick ratio of 1.51 and a debt-to-equity ratio of 0.22. The stock's 50-day moving average is $87.89 and its 200-day moving average is $99.17. The firm has a market cap of $3.15 billion, a PE ratio of 10.46, a price-to-earnings-growth ratio of 4.20 and a beta of 1.34. Boise Cascade has a twelve month low of $83.09 and a twelve month high of $155.42.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its earnings results on Monday, May 5th. The construction company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.30). Boise Cascade had a return on equity of 14.36% and a net margin of 4.72%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the firm earned $2.61 EPS. The company's revenue for the quarter was down 6.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Insider Activity at Boise Cascade

In other news, SVP Jill Twedt sold 1,200 shares of Boise Cascade stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $88.01, for a total transaction of $105,612.00. Following the sale, the senior vice president owned 34,649 shares of the company's stock, valued at approximately $3,049,458.49. The trade was a 3.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joanna L. Barney sold 1,000 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $87.68, for a total transaction of $87,680.00. Following the completion of the transaction, the executive vice president directly owned 12,372 shares in the company, valued at $1,084,776.96. The trade was a 7.48% decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BCC. Norges Bank acquired a new position in Boise Cascade in the fourth quarter valued at about $55,680,000. Westwood Holdings Group Inc. lifted its position in Boise Cascade by 25.7% in the first quarter. Westwood Holdings Group Inc. now owns 1,499,305 shares of the construction company's stock valued at $147,067,000 after buying an additional 306,684 shares during the last quarter. First Trust Advisors LP lifted its position in Boise Cascade by 37.9% in the fourth quarter. First Trust Advisors LP now owns 712,527 shares of the construction company's stock valued at $84,691,000 after buying an additional 195,773 shares during the last quarter. GAMMA Investing LLC lifted its position in Boise Cascade by 15,650.6% in the first quarter. GAMMA Investing LLC now owns 143,015 shares of the construction company's stock valued at $14,028,000 after buying an additional 142,107 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Boise Cascade by 8.1% in the first quarter. American Century Companies Inc. now owns 1,226,383 shares of the construction company's stock valued at $120,296,000 after buying an additional 92,019 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company's stock.

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.

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