Boise Cascade (NYSE:BCC) Hits New 1-Year Low – Time to Sell?

Boise Cascade (NYSE:BCC) shares hit a new 52-week low on Wednesday . The stock traded as low as $97.21 and last traded at $98.20, with a volume of 431294 shares traded. The stock had previously closed at $102.16.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BCC shares. The Goldman Sachs Group reduced their price target on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Benchmark reaffirmed a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Truist Financial dropped their price objective on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a research note on Monday, February 24th. StockNews.com lowered shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, DA Davidson reduced their price target on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Boise Cascade currently has an average rating of “Hold” and an average target price of $128.50.

Boise Cascade Price Performance

The firm’s fifty day moving average price is $120.34 and its 200 day moving average price is $131.36. The firm has a market capitalization of $3.73 billion, a PE ratio of 10.27 and a beta of 1.57. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.01). The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. As a group, equities analysts forecast that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, February 24th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Monday, February 24th. Boise Cascade’s dividend payout ratio (DPR) is presently 8.79%.

Insider Buying and Selling

In other news, Director Kristopher J. Matula sold 553 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total value of $57,047.48. Following the completion of the sale, the director now directly owns 13,099 shares in the company, valued at $1,351,292.84. This represents a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.98% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Boise Cascade

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Westwood Holdings Group Inc. increased its position in shares of Boise Cascade by 3.9% during the fourth quarter. Westwood Holdings Group Inc. now owns 1,192,621 shares of the construction company’s stock valued at $141,755,000 after acquiring an additional 45,010 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Boise Cascade by 12.0% in the fourth quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock valued at $134,831,000 after purchasing an additional 121,790 shares during the period. First Trust Advisors LP boosted its stake in shares of Boise Cascade by 37.9% in the fourth quarter. First Trust Advisors LP now owns 712,527 shares of the construction company’s stock valued at $84,691,000 after purchasing an additional 195,773 shares during the period. Northern Trust Corp boosted its stake in shares of Boise Cascade by 17.8% in the fourth quarter. Northern Trust Corp now owns 483,165 shares of the construction company’s stock valued at $57,429,000 after purchasing an additional 73,061 shares during the period. Finally, Norges Bank acquired a new stake in Boise Cascade during the fourth quarter worth approximately $55,680,000. 96.18% of the stock is currently owned by institutional investors and hedge funds.

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.