Boise Cascade (NYSE:BCC) Shares Down 7% Following Weak Earnings

Boise Cascade (NYSE:BCC - Get Free Report)'s share price fell 7% on Tuesday following a dissappointing earnings announcement. The company traded as low as $87.45 and last traded at $86.04. 113,670 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 328,510 shares. The stock had previously closed at $92.47.

The construction company reported $1.06 EPS for the quarter, missing analysts' consensus estimates of $1.36 by ($0.30). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The business had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.53 billion. During the same quarter last year, the business posted $2.61 earnings per share. The company's quarterly revenue was down 6.6% compared to the same quarter last year.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.95%. Boise Cascade's dividend payout ratio is currently 10.49%.

Analyst Ratings Changes

BCC has been the topic of several research reports. Loop Capital cut 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 price objective on Boise Cascade from $155.00 to $125.00 and set a "buy" rating on the stock in a report on Monday, February 24th. BMO Capital Markets decreased their target price on Boise Cascade from $136.00 to $122.00 and set a "market perform" rating for the company in a report on Tuesday, February 25th. Benchmark reiterated a "hold" rating on shares of Boise Cascade in a report on Tuesday, February 25th. Finally, The Goldman Sachs Group decreased their price objective on shares of Boise Cascade from $145.00 to $126.00 and set a "neutral" rating for the company in a research note on Tuesday, January 14th. 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 company. According to MarketBeat, Boise Cascade presently has an average rating of "Hold" and a consensus target price of $125.00.

Insider Activity at Boise Cascade

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Vise Technologies Inc. boosted its stake in shares of Boise Cascade by 3.4% in the fourth quarter. Vise Technologies Inc. now owns 3,021 shares of the construction company's stock worth $359,000 after acquiring an additional 100 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of Boise Cascade by 1.7% in the first quarter. SummerHaven Investment Management LLC now owns 6,708 shares of the construction company's stock worth $658,000 after buying an additional 114 shares in the last quarter. D.A. Davidson & CO. grew its stake in Boise Cascade by 4.2% during the 4th quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company's stock valued at $388,000 after acquiring an additional 133 shares in the last quarter. Principal Securities Inc. raised its holdings in Boise Cascade by 44.2% in the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company's stock valued at $56,000 after acquiring an additional 145 shares during the last quarter. Finally, Peak Financial Advisors LLC boosted its holdings in shares of Boise Cascade by 4.8% during the 1st quarter. Peak Financial Advisors LLC now owns 3,624 shares of the construction company's stock worth $355,000 after purchasing an additional 166 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company's stock.

Boise Cascade Price Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92. The stock has a 50 day simple moving average of $95.99 and a two-hundred day simple moving average of $117.28. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 9.27 and a beta of 1.43.

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.