Insider Selling: Boise Cascade (NYSE:BCC) Director Sells 553 Shares of Stock

Boise Cascade (NYSE:BCC) Director Kristopher J. Matula sold 553 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was 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 owns 13,099 shares in the company, valued at approximately $1,351,292.84. This represents a 4.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Boise Cascade Trading Down 2.3 %

Shares of BCC stock opened at $104.03 on Thursday. The stock’s fifty day moving average is $121.52 and its two-hundred day moving average is $131.84. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34. The firm has a market capitalization of $3.95 billion, a P/E ratio of 10.88 and a beta of 1.57. Boise Cascade has a fifty-two week low of $102.27 and a fifty-two week high of $155.42.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). The firm 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%. Research analysts expect that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Monday, February 24th. Boise Cascade’s dividend payout ratio (DPR) is presently 8.79%.

Institutional Trading of Boise Cascade

A number of hedge funds and other institutional investors have recently modified their holdings of BCC. Harbor Capital Advisors Inc. acquired a new stake in shares of Boise Cascade in the 3rd quarter worth $28,000. R Squared Ltd acquired a new stake in shares of Boise Cascade in the 4th quarter worth $29,000. Quarry LP increased its stake in shares of Boise Cascade by 502.4% in the 4th quarter. Quarry LP now owns 253 shares of the construction company’s stock worth $30,000 after acquiring an additional 211 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Boise Cascade by 23.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock worth $53,000 after acquiring an additional 73 shares during the last quarter. Finally, Principal Securities Inc. increased its stake in shares of Boise Cascade by 44.2% in the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock worth $56,000 after acquiring an additional 145 shares during the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on BCC shares. Benchmark restated a “hold” rating on shares of Boise Cascade in a research report on Tuesday. Truist Financial decreased their target price on Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday. StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. DA Davidson decreased their target price on Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research report on Monday. Finally, BMO Capital Markets decreased their target price on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $128.50.

About Boise Cascade

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.