Boise Cascade (NYSE:BCC) Hits New 12-Month Low - Here's Why

Boise Cascade (NYSE:BCC - Get Free Report) shares hit a new 52-week low on Tuesday . The company traded as low as $83.72 and last traded at $84.04, with a volume of 265661 shares trading hands. The stock had previously closed at $85.82.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BCC shares. BMO Capital Markets reduced their target price on Boise Cascade from $136.00 to $122.00 and set a "market perform" rating on the stock in a report on Tuesday, February 25th. Benchmark reaffirmed a "hold" rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Loop Capital reduced their price objective on Boise Cascade from $140.00 to $135.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Truist Financial reduced their target price on shares of Boise Cascade from $134.00 to $118.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, DA Davidson reduced their target price on shares of Boise Cascade from $155.00 to $125.00 and set a "buy" rating on the stock in a research report on Monday, February 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $125.00.

Boise Cascade Stock Down 2.1%

The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 8.79 and a beta of 1.36. The firm's fifty day moving average is $90.85 and its 200-day moving average is $107.82. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its quarterly earnings data 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 net margin of 5.60% and a return on equity of 17.04%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the company earned $2.61 EPS. The company's quarterly revenue was down 6.6% compared to the same quarter last year. On average, sell-side analysts predict that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, June 2nd will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Monday, June 2nd. Boise Cascade's dividend payout ratio is currently 10.49%.

Insider Activity at Boise Cascade

In related news, SVP Jill Twedt sold 1,200 shares of the stock in a transaction dated 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 now owns 34,649 shares in the company, valued at $3,049,458.49. This represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Joanna L. Barney sold 1,000 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $87.68, for a total transaction of $87,680.00. Following the sale, the executive vice president now owns 12,372 shares in the company, valued at approximately $1,084,776.96. This trade represents a 7.48% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.98% of the company's stock.

Institutional Trading of Boise Cascade

A number of institutional investors and hedge funds have recently made changes to their positions in BCC. Van ECK Associates Corp increased its position in Boise Cascade by 27.8% in the fourth quarter. Van ECK Associates Corp now owns 31,203 shares of the construction company's stock worth $3,709,000 after buying an additional 6,788 shares during the period. Rhumbline Advisers increased its stake in shares of Boise Cascade by 6.2% in the fourth quarter. Rhumbline Advisers now owns 120,180 shares of the construction company's stock valued at $14,285,000 after purchasing an additional 7,025 shares during the period. Principal Securities Inc. increased its stake in shares of Boise Cascade by 44.2% in the fourth quarter. Principal Securities Inc. now owns 473 shares of the construction company's stock valued at $56,000 after purchasing an additional 145 shares during the period. Monument Capital Management increased its position in Boise Cascade by 32.8% in the 4th quarter. Monument Capital Management now owns 2,113 shares of the construction company's stock valued at $251,000 after acquiring an additional 522 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its position in Boise Cascade by 2.9% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 15,192 shares of the construction company's stock valued at $1,806,000 after acquiring an additional 423 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.

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