Jill Twedt Sells 1,250 Shares of Boise Cascade (NYSE:BCC) Stock

Key Points

• Insider sale: Senior Vice President Jill Twedt sold 1,250 Boise Cascade shares at an average price of $79.40, receiving $99,250. She retains 25,295 shares, representing a 4.71% reduction in her position.
• Quarterly performance: Boise Cascade reported adjusted earnings of $1.63 per share, beating estimates by $0.40, while revenue rose 5.2% year over year to $1.83 billion.
• Dividend and outlook: The company raised its quarterly dividend to $0.23 per share, producing a 1.2% annualized yield. Analysts maintain a consensus “Hold” rating with an average price target of $93.60, above the reported share price of $78.87.

Boise Cascade, L.L.C. (NYSE:BCC - Get Free Report) SVP Jill Twedt sold 1,250 shares of the 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 directly owned 25,295 shares in the company, valued at approximately $2,008,423. This represents a 4.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Boise Cascade Price Performance

BCC traded down $1.07 during midday trading on Thursday, hitting $78.87. The company had a trading volume of 320,821 shares, compared to its average volume of 416,153. Boise Cascade, L.L.C. has a twelve month low of $65.00 and a twelve month high of $91.97. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.31 and a current ratio of 2.71. The firm's 50-day simple moving average is $78.72 and its 200-day simple moving average is $76.80. The company has a market capitalization of $2.75 billion, a PE ratio of 26.74, a P/E/G ratio of 1.09 and a beta of 1.10.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The construction company reported $1.63 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.40. Boise Cascade had a net margin of 1.64% and a return on equity of 5.41%. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the business posted $1.64 earnings per share. Boise Cascade's revenue for the quarter was up 5.2% compared to the same quarter last year. Equities research analysts predict that Boise Cascade, L.L.C. will post 3.86 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Tuesday, September 1st will be paid a $0.23 dividend. This is an increase from Boise Cascade's previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.92 annualized dividend and a dividend yield of 1.2%. Boise Cascade's payout ratio is 29.83%.

Analysts Set New Price Targets

BCC has been the topic of several research reports. Zacks Research lowered Boise Cascade from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 17th. Wall Street Zen raised Boise Cascade from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Weiss Ratings upgraded shares of Boise Cascade from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, August 17th. DA Davidson raised their target price on shares of Boise Cascade from $92.00 to $99.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Finally, Truist Financial set a $97.00 price target on shares of Boise Cascade in a research report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Boise Cascade has a consensus rating of "Hold" and an average target price of $93.60.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Cerity Partners LLC lifted its holdings in Boise Cascade by 3.8% during the 2nd quarter. Cerity Partners LLC now owns 3,274 shares of the construction company's stock worth $284,000 after buying an additional 121 shares during the period. Raymond James Financial Inc. increased its stake in shares of Boise Cascade by 1.0% in the second quarter. Raymond James Financial Inc. now owns 13,219 shares of the construction company's stock valued at $1,148,000 after buying an additional 126 shares during the period. Fifth Third Bancorp raised its position in shares of Boise Cascade by 77.5% during the fourth quarter. Fifth Third Bancorp now owns 410 shares of the construction company's stock worth $30,000 after acquiring an additional 179 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Boise Cascade by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 7,329 shares of the construction company's stock worth $539,000 after acquiring an additional 226 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Boise Cascade by 231.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company's stock worth $29,000 after acquiring an additional 259 shares during the period. 96.18% of the stock is currently owned by institutional investors.

About Boise Cascade

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company's operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source