Boise Cascade (NYSE:BCC) Short Interest Update

Boise Cascade (NYSE:BCC) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 882,900 shares, an increase of 40.6% from the March 31st total of 628,100 shares. Currently, 2.4% of the shares of the company are short sold. Based on an average daily trading volume, of 379,700 shares, the days-to-cover ratio is currently 2.3 days.

Boise Cascade Price Performance

Shares of BCC opened at $96.05 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92. Boise Cascade has a 12 month low of $87.84 and a 12 month high of $155.42. The stock has a fifty day moving average price of $97.32 and a 200 day moving average price of $119.30. The company has a market cap of $3.65 billion, a P/E ratio of 10.05 and a beta of 1.52.

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

Boise Cascade Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, June 2nd will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.84 annualized dividend and a yield of 0.87%. Boise Cascade’s dividend payout ratio is currently 8.79%.

Insider Buying and Selling

In other news, Director Kristopher J. Matula sold 553 shares of Boise Cascade stock in a transaction that occurred on 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 in the company, valued at approximately $1,351,292.84. This trade represents a 4.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeffrey Robert Strom sold 4,500 shares of the firm’s 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 completion of the transaction, the chief operating officer now owns 38,026 shares of the company’s stock, valued at approximately $3,810,585.46. This represents a 10.58 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.98% of the company’s stock.

Institutional Trading of Boise Cascade

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC lifted its holdings in shares of Boise Cascade by 90.0% during the first quarter. Segall Bryant & Hamill LLC now owns 40,476 shares of the construction company’s stock valued at $3,970,000 after purchasing an additional 19,174 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Boise Cascade by 34.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,136 shares of the construction company’s stock valued at $406,000 after buying an additional 1,067 shares in the last quarter. Edgestream Partners L.P. acquired a new position in shares of Boise Cascade during the 1st quarter worth $463,000. MQS Management LLC bought a new position in Boise Cascade during the first quarter valued at about $403,000. Finally, Regents Gate Capital LLP lifted its holdings in Boise Cascade by 180.6% in the 1st quarter. Regents Gate Capital LLP now owns 27,980 shares of the construction company’s stock worth $2,745,000 after purchasing an additional 18,010 shares during the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BCC shares. BMO Capital Markets decreased their price target on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 25th. Benchmark reaffirmed a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. The Goldman Sachs Group decreased their target price on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. DA Davidson dropped 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. Finally, Loop Capital reduced their target price on Boise Cascade from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $125.00.

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.