Boise Cascade (NYSE:BCC) Hits New 52-Week Low - Here's What Happened

Shares of Boise Cascade (NYSE:BCC - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $84.53 and last traded at $87.86, with a volume of 872070 shares. The stock had previously closed at $92.47.

Analyst Upgrades and Downgrades

BCC has been the subject of a number of analyst reports. Benchmark reaffirmed a "hold" rating on shares of Boise Cascade in a report on Tuesday, February 25th. BMO Capital Markets lowered their price objective on Boise Cascade from $136.00 to $122.00 and set a "market perform" rating for the company in a research report on Tuesday, February 25th. Truist Financial cut their price target on Boise Cascade from $134.00 to $118.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. The Goldman Sachs Group lowered their target price on Boise Cascade from $145.00 to $126.00 and set a "neutral" rating on the stock in a report on Tuesday, January 14th. Finally, Loop Capital cut their price objective 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. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $125.00.

Boise Cascade Stock Up 4.3%

The stock has a market cap of $3.48 billion, a price-to-earnings ratio of 9.68 and a beta of 1.43. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34. The firm's 50-day simple moving average is $95.99 and its two-hundred day simple moving average is $117.28.

Boise Cascade (NYSE:BCC - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The construction company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.30). The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. Boise Cascade's revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.61 earnings per share. On average, sell-side analysts expect that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, June 2nd will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Monday, June 2nd. Boise Cascade's dividend payout ratio (DPR) is currently 10.49%.

Insider Transactions at Boise Cascade

In other Boise Cascade news, COO Jeffrey Robert Strom sold 4,500 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total transaction of $450,945.00. Following the completion of the transaction, the chief operating officer now owns 38,026 shares of the company's stock, valued at approximately $3,810,585.46. This trade represents a 10.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kristopher J. Matula sold 553 shares of Boise Cascade stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total value of $57,047.48. Following the completion of the transaction, the director now directly owns 13,099 shares of the company's stock, valued at approximately $1,351,292.84. This represents a 4.05% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.98% of the company's stock.

Institutional Investors Weigh In On Boise Cascade

A number of large investors have recently made changes to their positions in the company. R Squared Ltd purchased a new position in Boise Cascade in the 4th quarter worth approximately $29,000. Quarry LP lifted its holdings in shares of Boise Cascade by 502.4% in the 4th quarter. Quarry LP now owns 253 shares of the construction company's stock valued at $30,000 after acquiring an additional 211 shares during the last quarter. Principal Securities Inc. lifted its stake in Boise Cascade by 44.2% in the fourth quarter. Principal Securities Inc. now owns 473 shares of the construction company's stock worth $56,000 after purchasing an additional 145 shares during the last quarter. Farther Finance Advisors LLC increased 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 valued at $47,000 after buying an additional 369 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in Boise Cascade by 254.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company's stock valued at $92,000 after buying an additional 558 shares during the period. 96.18% of the stock is currently owned by institutional investors.

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.