Boise Cascade (NYSE:BCC) Sets New 12-Month Low - Should You Sell?

Key Points

• Boise Cascade shares hit a new 12-month low at $72.15, closing at $72.54 with a trading volume of 10,099 shares.
• Equities analysts have lowered their price targets for Boise Cascade, with most setting a target around $100; however, overall ratings indicate a "Moderate Buy" sentiment.
• The company recently announced an increase in its quarterly dividend from $0.21 to $0.22 per share, reflecting a 1.2% yield.

Boise Cascade, L.L.C. (NYSE:BCC - Get Free Report)'s share price hit a new 52-week low on Monday . The company traded as low as $72.15 and last traded at $72.54, with a volume of 10099 shares traded. The stock had previously closed at $72.32.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BCC shares. DA Davidson decreased their price target on shares of Boise Cascade from $115.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. BMO Capital Markets reaffirmed a "market perform" rating and set a $100.00 target price on shares of Boise Cascade in a research note on Tuesday, September 16th. Bank of America reduced their target price on shares of Boise Cascade from $111.00 to $107.00 and set a "buy" rating on the stock in a research note on Wednesday, July 9th. Truist Financial reduced their target price on shares of Boise Cascade from $101.00 to $96.00 and set a "buy" rating on the stock in a research note on Wednesday, September 17th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Boise Cascade in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Boise Cascade presently has an average rating of "Moderate Buy" and an average target price of $110.67.

Boise Cascade Stock Up 0.4%

The company has a quick ratio of 1.54, a current ratio of 2.96 and a debt-to-equity ratio of 0.21. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 10.64, a PEG ratio of 5.52 and a beta of 1.27. The business's fifty day moving average is $82.91 and its two-hundred day moving average is $87.65.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The construction company reported $1.64 earnings per share for the quarter, missing analysts' consensus estimates of $1.69 by ($0.05). The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.76 billion. Boise Cascade had a net margin of 4.00% and a return on equity of 12.26%. The company's revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.84 EPS. Equities analysts forecast that Boise Cascade, L.L.C. will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.22 per share. This is a boost from Boise Cascade's previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, September 2nd. This represents a $0.88 annualized dividend and a yield of 1.2%. Boise Cascade's dividend payout ratio (DPR) is presently 12.92%.

Insiders Place Their Bets

In other Boise Cascade news, EVP Troy Little sold 2,033 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $83.10, for a total transaction of $168,942.30. Following the completion of the transaction, the executive vice president owned 12,701 shares in the company, valued at $1,055,453.10. The trade was a 13.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jill Twedt sold 1,782 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $83.97, for a total transaction of $149,634.54. Following the sale, the senior vice president owned 32,867 shares of the company's stock, valued at $2,759,841.99. This represents a 5.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,815 shares of company stock worth $409,637 in the last 90 days. Corporate insiders own 1.11% of the company's stock.

Institutional Trading of Boise Cascade

Institutional investors have recently modified their holdings of the stock. Huntington National Bank lifted its position in shares of Boise Cascade by 630.0% during the 2nd quarter. Huntington National Bank now owns 438 shares of the construction company's stock worth $38,000 after buying an additional 378 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Boise Cascade by 120.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 406 shares of the construction company's stock worth $40,000 after buying an additional 222 shares during the last quarter. RMG Wealth Management LLC purchased a new stake in Boise Cascade in the 2nd quarter valued at $42,000. Farther Finance Advisors LLC grew its position in Boise Cascade by 338.5% during the 1st quarter. Farther Finance Advisors LLC now owns 478 shares of the construction company's stock worth $47,000 after purchasing an additional 369 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in Boise Cascade by 93.7% in the first quarter. Blue Trust Inc. now owns 918 shares of the construction company's stock valued at $90,000 after purchasing an additional 444 shares during the period. Hedge funds and other institutional investors 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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