Boise Cascade, L.L.C. (NYSE:BCC) Shareholders Set to Receive $0.23 Quarterly Dividend

Key Points

• Boise Cascade declared a quarterly dividend of $0.23 per share, payable December 16 to shareholders of record on December 1. The annualized dividend is $0.92 per share, yielding approximately 1.2%.
• The dividend appears well covered, with an 11.4% current payout ratio and an expected future payout ratio of 17.6%; the company has raised its dividend for six consecutive years.
• Boise Cascade’s latest quarterly results exceeded expectations, with earnings of $1.63 per share and revenue of $1.83 billion, up 5.2% year over year. Institutional investors own 96.18% of the company, while recent insider transactions were sales.

Boise Cascade, L.L.C. (NYSE:BCC - Get Free Report) announced a quarterly dividend on Thursday, October 29th. Investors of record on Tuesday, December 1st will be paid a dividend of $0.23 per share by the construction company on Wednesday, December 16th. This represents a $0.92 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, December 1st.

Boise Cascade has decreased its dividend by an average of 0.2% annually over the last three years and has raised its dividend every year for the last 6 years. Boise Cascade has a dividend payout ratio of 11.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Boise Cascade to earn $5.23 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 17.6%.

Boise Cascade Stock Up 4.3%

Shares of Boise Cascade stock opened at $77.76 on Friday. The company has a current ratio of 2.71, a quick ratio of 1.31 and a debt-to-equity ratio of 0.24. Boise Cascade has a 1 year low of $65.00 and a 1 year high of $91.97. The stock has a 50-day moving average price of $76.51 and a 200 day moving average price of $77.30. The company has a market cap of $2.71 billion, a P/E ratio of 26.36, a P/E/G ratio of 0.97 and a beta of 1.08.

Boise Cascade (NYSE:BCC - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The construction company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.40. Boise Cascade had a return on equity of 5.41% and a net margin of 1.64%. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the company posted $1.64 EPS. The firm's revenue was up 5.2% on a year-over-year basis. As a group, analysts expect that Boise Cascade will post 3.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kristopher Matula sold 1,930 shares of the company's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total value of $163,239.40. Following the completion of the sale, the director owned 13,982 shares in the company, valued at $1,182,597.56. This represents a 12.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jill Twedt sold 1,250 shares of the firm's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $79.40, for a total transaction of $99,250.00. Following the sale, the senior vice president owned 25,295 shares of the company's stock, valued at $2,008,423. This trade represents a 4.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.42% of the stock is currently owned by company insiders.

Institutional Trading of Boise Cascade

Several large investors have recently bought and sold shares of BCC. Bridge City Capital LLC grew its position in shares of Boise Cascade by 21.3% during the 3rd quarter. Bridge City Capital LLC now owns 21,028 shares of the construction company's stock worth $1,559,000 after buying an additional 3,687 shares in the last quarter. Vise Technologies Inc. raised its holdings in Boise Cascade by 52.1% in the 3rd quarter. Vise Technologies Inc. now owns 4,083 shares of the construction company's stock worth $303,000 after purchasing an additional 1,399 shares during the period. Summit Global Investments increased its stake in shares of Boise Cascade by 271.3% during the third quarter. Summit Global Investments now owns 10,670 shares of the construction company's stock worth $791,000 after purchasing an additional 7,796 shares in the last quarter. State of Wyoming grew its holdings in shares of Boise Cascade by 24.6% during the third quarter. State of Wyoming now owns 4,535 shares of the construction company's stock worth $336,000 after buying an additional 895 shares in the last quarter. Finally, Signaturefd LLC increased its stake in shares of Boise Cascade by 16.3% in the 3rd quarter. Signaturefd LLC now owns 1,000 shares of the construction company's stock worth $74,000 after acquiring an additional 140 shares during the last quarter. 96.18% of the stock is owned by institutional investors.

About Boise Cascade

Boise Cascade Company is a U.S.-based manufacturer of engineered wood products and a wholesale distributor of building materials. Headquartered in Boise, Idaho, the company serves the residential construction, repair and remodeling, and industrial sectors primarily across the United States.

Through its Wood Products segment, Boise Cascade manufactures laminated veneer lumber, I-joists, laminated strand lumber, plywood, and other engineered wood products used in floors, roofs, walls, and structural applications.

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