Boise Cascade (NYSE:BCC) Director Sells 1,930 Shares

Key Points

• Director Kristopher Matula sold 1,930 Boise Cascade shares at an average price of $84.58, generating approximately $163,239. After the transaction, his direct ownership declined 12.13% to 13,982 shares.
• Boise Cascade exceeded quarterly expectations, reporting $1.63 in EPS versus the $1.23 consensus and revenue of $1.83 billion, up 5.2% year over year.
• The company raised its quarterly dividend from $0.22 to $0.23 per share, equal to a $0.92 annualized payout and a 1.1% yield. Analysts’ consensus rating remains “Hold,” with an average price target of $93.60.

Boise Cascade, L.L.C. (NYSE:BCC - Get Free Report) Director Kristopher Matula sold 1,930 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total value of $163,239.40. Following the transaction, the director directly owned 13,982 shares in the company, valued at $1,182,597.56. The trade was a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Boise Cascade Stock Performance

Shares of BCC stock traded down $0.62 on Thursday, reaching $84.18. The stock had a trading volume of 471,367 shares, compared to its average volume of 432,752. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.37 and a current ratio of 2.71. Boise Cascade, L.L.C. has a 1 year low of $65.00 and a 1 year high of $91.97. The stock has a market cap of $2.94 billion, a P/E ratio of 28.53, a price-to-earnings-growth ratio of 1.19 and a beta of 1.10. The company has a 50 day simple moving average of $74.74 and a 200 day simple moving average of $76.92.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The construction company reported $1.63 EPS for the quarter, beating analysts' consensus estimates of $1.23 by $0.40. Boise Cascade had a return on equity of 5.41% and a net margin of 1.64%.The company had revenue of $1.83 billion during the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter in the prior year, the business earned $1.64 earnings per share. Boise Cascade's revenue for the quarter was up 5.2% compared to the same quarter last year. Equities research analysts expect that Boise Cascade, L.L.C. will post 3.83 EPS for the current year.

Boise Cascade Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase from Boise Cascade's previous quarterly dividend of $0.22. Boise Cascade's payout ratio is currently 29.73%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Zacks Research raised shares of Boise Cascade from a "hold" rating to a "strong-buy" rating in a report on Friday, July 17th. Truist Financial set a $97.00 price objective on shares of Boise Cascade in a research report on Wednesday, May 6th. Bank of America boosted their price objective on shares of Boise Cascade from $80.00 to $81.00 and gave the company an "underperform" rating in a research report on Tuesday, July 14th. The Goldman Sachs Group raised their target price on Boise Cascade from $81.00 to $91.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, Weiss Ratings downgraded Boise Cascade from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $93.60.

Hedge Funds Weigh In On Boise Cascade

Several large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new stake in shares of Boise Cascade in the second quarter worth $18,194,000. State of Wyoming purchased a new position in shares of Boise Cascade during the 2nd quarter valued at $283,000. GSA Capital Partners LLP bought a new position in Boise Cascade in the 2nd quarter worth $453,000. ARGA Investment Management LP increased its stake in Boise Cascade by 8.0% in the 2nd quarter. ARGA Investment Management LP now owns 27,231 shares of the construction company's stock worth $2,114,000 after buying an additional 2,019 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its stake in Boise Cascade by 22.2% in the 2nd quarter. Pictet Asset Management Holding SA now owns 117,675 shares of the construction company's stock worth $9,135,000 after buying an additional 21,362 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company's stock.

About Boise Cascade

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company's operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.

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