Key Points
- Director Kristopher Matula sold 1,930 Boise Cascade shares for approximately $163,239, reducing his ownership by 12.13% to 13,982 shares.
- Boise Cascade beat quarterly expectations, reporting $1.63 in EPS versus the $1.23 consensus and $1.83 billion in revenue, up 5.2% year over year.
- The company raised its quarterly dividend from $0.22 to $0.23 per share, equivalent to a $0.92 annualized payout and a 1.1% yield; analysts’ average rating remains “Hold,” with a $93.60 price target.
Boise Cascade, L.L.C. (NYSE:BCC - Get Free Report) Director Kristopher Matula sold 1,930 shares of the firm's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total value of $163,239.40. Following the completion of the transaction, the director owned 13,982 shares of the company's stock, valued at approximately $1,182,597.56. The trade was a 12.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Boise Cascade Price Performance
Shares of NYSE BCC opened at $84.18 on Friday. Boise Cascade, L.L.C. has a 52 week low of $65.00 and a 52 week high of $91.97. The business's 50 day moving average price is $75.01 and its 200 day moving average price is $76.91. The company has a quick ratio of 1.37, a current ratio of 2.71 and a debt-to-equity ratio of 0.24. The firm has a market cap of $2.94 billion, a P/E ratio of 28.53, a P/E/G ratio of 1.17 and a beta of 1.10.
Boise Cascade (NYSE:BCC - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The construction company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.23 by $0.40. The business had revenue of $1.83 billion during the quarter, compared to analysts' expectations of $1.77 billion. Boise Cascade had a net margin of 1.64% and a return on equity of 5.41%. The business's quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.64 EPS. On average, sell-side analysts expect that Boise Cascade, L.L.C. will post 3.85 earnings per share for the current year.
Boise Cascade Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.1%. This is a boost from Boise Cascade's previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, September 1st. Boise Cascade's dividend payout ratio is 31.19%.
Institutional Investors Weigh In On Boise Cascade
Several hedge funds have recently modified their holdings of the company. Cerity Partners LLC increased its stake in shares of Boise Cascade by 3.8% during the second quarter. Cerity Partners LLC now owns 3,274 shares of the construction company's stock valued at $284,000 after acquiring an additional 121 shares during the period. Raymond James Financial Inc. lifted its position in Boise Cascade by 1.0% in the second quarter. Raymond James Financial Inc. now owns 13,219 shares of the construction company's stock worth $1,148,000 after purchasing an additional 126 shares during the period. State of Alaska Department of Revenue lifted its position in Boise Cascade by 0.8% in the fourth quarter. State of Alaska Department of Revenue now owns 21,171 shares of the construction company's stock worth $1,558,000 after purchasing an additional 164 shares during the period. Fifth Third Bancorp boosted its stake in Boise Cascade by 77.5% during the 4th quarter. Fifth Third Bancorp now owns 410 shares of the construction company's stock valued at $30,000 after purchasing an additional 179 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in Boise Cascade by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 7,329 shares of the construction company's stock valued at $539,000 after purchasing an additional 226 shares in the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on BCC shares. DA Davidson upped their price target on shares of Boise Cascade from $92.00 to $99.00 and gave the company a "buy" rating in a report on Wednesday. Truist Financial set a $97.00 target price on Boise Cascade in a research note on Wednesday, May 6th. Weiss Ratings lowered Boise Cascade from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday. Bank of America lifted their price target on Boise Cascade from $80.00 to $81.00 and gave the company an "underperform" rating in a research report on Tuesday, July 14th. Finally, The Goldman Sachs Group boosted their price target on Boise Cascade from $81.00 to $91.00 and gave the company a "neutral" rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Boise Cascade has an average rating of "Hold" and an average price target of $93.60.
Get Our Latest Analysis on BCC
Boise Cascade News Roundup
Here are the key news stories impacting Boise Cascade this week:
- Positive Sentiment: DA Davidson raised its price target on Boise Cascade from $92 to $99 and maintained a “buy” rating, implying roughly 17.6% upside from the referenced share price. Benzinga analyst price target report
- Positive Sentiment: Goldman Sachs increased its price target from $81 to $91. Although the firm kept a “neutral” rating, the higher target reflects improved valuation expectations. Benzinga analyst price target report
- Positive Sentiment: Zacks highlighted BCC among financially solid companies viewed as potential dividend-hike candidates, which may appeal to investors seeking income and stability. Zacks dividend hike article
- Neutral Sentiment: Additional Zacks coverage described Boise Cascade as a strong momentum stock and an attractively valued company with revenue potential, but these are screening-based views rather than new corporate developments. Zacks Boise Cascade momentum article
- Negative Sentiment: Director Kristopher J. Matula sold 1,930 shares for approximately $163,239, reducing his position by 12.13%. While one insider sale does not establish a broader trend, it can create modest short-term pressure on investor sentiment. SEC insider transaction filing
Boise Cascade Company Profile
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Get Free Report)
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.
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