Boise Cascade (NYSE:BCC) Reaches New 12-Month Low – Should You Sell?

Boise Cascade (NYSE:BCC)’s share price reached a new 52-week low on Thursday . The company traded as low as $97.01 and last traded at $96.58, with a volume of 20076 shares traded. The stock had previously closed at $98.21.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BCC shares. The Goldman Sachs Group reduced their price objective on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Truist Financial decreased their price objective on Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Benchmark reissued a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. DA Davidson reduced their target price on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Finally, Loop Capital lowered their price target on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a report on Monday, February 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Boise Cascade presently has a consensus rating of “Hold” and an average price target of $128.50.

Boise Cascade Price Performance

The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 10.39 and a beta of 1.67. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22. The stock has a fifty day moving average of $116.93 and a 200-day moving average of $129.60.

Boise Cascade (NYSE:BCC) last issued its earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.01). The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. On average, equities research analysts predict that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

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 paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.85%. Boise Cascade’s dividend payout ratio is presently 8.79%.

Insiders Place Their Bets

In other Boise Cascade news, COO Jeffrey Robert Strom sold 4,500 shares of Boise Cascade stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total value of $450,945.00. Following the transaction, the chief operating officer now directly owns 38,026 shares in the company, valued at approximately $3,810,585.46. The trade was a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kristopher J. Matula sold 553 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total transaction of $57,047.48. Following the completion of the sale, the director now directly owns 13,099 shares of the company’s stock, valued at $1,351,292.84. The trade was a 4.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Crossmark Global Holdings Inc. grew its position in Boise Cascade by 13.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,122 shares of the construction company’s stock valued at $440,000 after buying an additional 381 shares during the last quarter. KBC Group NV increased its stake in shares of Boise Cascade by 19.0% during the third quarter. KBC Group NV now owns 1,226 shares of the construction company’s stock worth $173,000 after acquiring an additional 196 shares during the period. Chesapeake Capital Corp IL boosted its holdings in Boise Cascade by 27.9% in the 3rd quarter. Chesapeake Capital Corp IL now owns 3,948 shares of the construction company’s stock valued at $559,000 after purchasing an additional 862 shares in the last quarter. Quest Partners LLC increased its position in Boise Cascade by 2,173.7% during the 3rd quarter. Quest Partners LLC now owns 7,253 shares of the construction company’s stock worth $1,023,000 after purchasing an additional 6,934 shares during the period. Finally, Meeder Asset Management Inc. raised its stake in shares of Boise Cascade by 55.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 27,791 shares of the construction company’s stock worth $3,918,000 after buying an additional 9,958 shares in the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

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.