Steven C. Cooper Sells 5,306 Shares of Boise Cascade (NYSE:BCC) Stock

Boise Cascade (NYSE:BCC) Director Steven C. Cooper sold 5,306 shares of Boise Cascade stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $102.90, for a total transaction of $545,987.40. Following the sale, the director now owns 3,450 shares in the company, valued at $355,005. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Boise Cascade Stock Down 0.6 %

Boise Cascade stock opened at $103.04 on Thursday. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 8.16 and a beta of 1.54. The firm’s fifty day moving average price is $99.74 and its two-hundred day moving average price is $92.09. Boise Cascade has a 1-year low of $59.32 and a 1-year high of $112.58. The company has a current ratio of 3.55, a quick ratio of 2.57 and a debt-to-equity ratio of 0.21.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Tuesday, October 31st. The construction company reported $3.58 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.11. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Boise Cascade had a net margin of 7.38% and a return on equity of 23.21%. The firm’s revenue for the quarter was down 14.9% compared to the same quarter last year. During the same quarter last year, the firm earned $5.52 EPS. On average, equities research analysts predict that Boise Cascade will post 12.13 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The business also recently announced a None dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a $5.20 dividend. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, November 30th. This is a positive change from Boise Cascade’s previous None dividend of $1.15. Boise Cascade’s dividend payout ratio (DPR) is currently 6.33%.

Institutional Investors Weigh In On Boise Cascade

Several institutional investors have recently bought and sold shares of the stock. Neo Ivy Capital Management bought a new position in Boise Cascade during the 2nd quarter valued at $25,000. Financial Management Professionals Inc. bought a new position in shares of Boise Cascade during the second quarter valued at about $34,000. Quadrant Capital Group LLC boosted its holdings in Boise Cascade by 27.3% during the second quarter. Quadrant Capital Group LLC now owns 429 shares of the construction company’s stock worth $39,000 after purchasing an additional 92 shares during the last quarter. Hexagon Capital Partners LLC grew its position in Boise Cascade by 76.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 433 shares of the construction company’s stock worth $45,000 after purchasing an additional 187 shares in the last quarter. Finally, CWM LLC increased its stake in Boise Cascade by 43.9% in the 2nd quarter. CWM LLC now owns 580 shares of the construction company’s stock valued at $52,000 after buying an additional 177 shares during the last quarter. Institutional investors own 91.75% of the company’s stock.

Analyst Ratings Changes

BCC has been the subject of a number of recent research reports. Bank of America downgraded Boise Cascade from a “neutral” rating to an “underperform” rating and set a $111.00 price objective for the company. in a report on Monday, October 16th. BMO Capital Markets decreased their target price on shares of Boise Cascade from $115.00 to $112.00 and set a “market perform” rating for the company in a research report on Tuesday. The Goldman Sachs Group raised their price target on shares of Boise Cascade from $96.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, August 2nd. StockNews.com started coverage on shares of Boise Cascade in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. Finally, Truist Financial lowered their target price on shares of Boise Cascade from $129.00 to $126.00 and set a “buy” rating for the company in a research note on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $111.00.

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 lumber products.