Boise Cascade (NYSE:BCC) Hits New 52-Week Low - Time to Sell?

Boise Cascade (NYSE:BCC - Get Free Report) hit a new 52-week low during trading on Monday . The stock traded as low as $84.01 and last traded at $84.20, with a volume of 102957 shares traded. The stock had previously closed at $86.67.

Analyst Ratings Changes

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

Boise Cascade Price Performance

The stock has a fifty day moving average of $91.84 and a 200-day moving average of $111.07. The firm has a market capitalization of $3.26 billion, a P/E ratio of 9.07 and a beta of 1.36. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The construction company reported $1.06 earnings per share 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 company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the business posted $2.61 EPS. The company's revenue was down 6.6% compared to the same quarter last year. Equities analysts predict that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, June 2nd will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Monday, June 2nd. Boise Cascade's dividend payout ratio (DPR) is presently 10.49%.

Insider Buying and Selling at Boise Cascade

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

Hedge Funds Weigh In On Boise Cascade

Several large investors have recently bought and sold shares of the business. Quarry LP boosted its position in shares of Boise Cascade by 502.4% in the 4th quarter. Quarry LP now owns 253 shares of the construction company's stock worth $30,000 after purchasing an additional 211 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Boise Cascade by 120.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 406 shares of the construction company's stock valued at $40,000 after buying an additional 222 shares during the period. Farther Finance Advisors LLC boosted its holdings in Boise Cascade by 338.5% during the first quarter. Farther Finance Advisors LLC now owns 478 shares of the construction company's stock worth $47,000 after buying an additional 369 shares during the last quarter. Principal Securities Inc. grew its position in shares of Boise Cascade by 44.2% during the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company's stock worth $56,000 after buying an additional 145 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of Boise Cascade by 93.7% in the 1st quarter. Blue Trust Inc. now owns 918 shares of the construction company's stock valued at $90,000 after acquiring an additional 444 shares during the last quarter. 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.