Key Points
- Insider sale: Boise Cascade SVP Jill Twedt sold 1,250 shares at an average price of $79.40, worth $99,250. After the transaction, she retained 25,295 shares.
- Quarterly performance: The company 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: Boise Cascade increased its quarterly dividend to $0.23 per share, implying an annualized yield of about 1.2%. Analysts maintain a consensus “Hold” rating with a $93.60 price target.
Boise Cascade, L.L.C. (NYSE:BCC - Get Free Report) SVP Jill Twedt sold 1,250 shares of Boise Cascade stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $79.40, for a total value of $99,250.00. Following the completion of the transaction, the senior vice president owned 25,295 shares of the company's stock, valued at approximately $2,008,423. The trade was a 4.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Boise Cascade Stock Down 1.3%
Shares of Boise Cascade stock opened at $78.87 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. The business's 50 day simple moving average is $78.80 and its 200-day simple moving average is $76.71. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 1.08 and a beta of 1.10. Boise Cascade, L.L.C. has a twelve month low of $65.00 and a twelve month high of $91.97.
Boise Cascade (NYSE:BCC - Get Free Report) last announced 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 business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the business posted $1.64 EPS. The business's revenue was up 5.2% on a year-over-year basis. Equities research analysts forecast that Boise Cascade, L.L.C. will post 3.86 earnings per share for the current year.
Boise Cascade Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Tuesday, September 1st will be paid a $0.23 dividend. The ex-dividend date is Tuesday, September 1st. This is a positive change from Boise Cascade's previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 1.2%. Boise Cascade's dividend payout ratio (DPR) is 31.19%.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in BCC. WINTON GROUP Ltd acquired a new stake in Boise Cascade in the fourth quarter worth about $6,655,000. Pictet Asset Management Holding SA grew its position in Boise Cascade by 22.2% in the 2nd quarter. Pictet Asset Management Holding SA now owns 117,675 shares of the construction company's stock valued at $9,135,000 after buying an additional 21,362 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Boise Cascade by 214,282.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 420,189 shares of the construction company's stock valued at $30,926,000 after buying an additional 419,993 shares during the period. Louisiana State Employees Retirement System acquired a new position in Boise Cascade during the 1st quarter valued at about $1,244,000. Finally, Concentric Capital Strategies LP raised its position in shares of Boise Cascade by 202.0% during the 4th quarter. Concentric Capital Strategies LP now owns 425,179 shares of the construction company's stock worth $31,293,000 after buying an additional 284,406 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company's stock.
Analyst Ratings Changes
Several research firms have recently commented on BCC. Bank of America upped their price target on shares of Boise Cascade from $80.00 to $81.00 and gave the stock an "underperform" rating in a research report on Tuesday, July 14th. Truist Financial set a $97.00 price objective on shares of Boise Cascade in a research report on Wednesday, May 6th. Weiss Ratings raised shares of Boise Cascade from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, August 17th. Zacks Research cut shares of Boise Cascade from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 17th. Finally, Wall Street Zen upgraded shares of Boise Cascade from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $93.60.
Read Our Latest Stock Analysis on Boise Cascade
Boise Cascade Company Profile
(
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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