Kristopher Matula Sells 1,930 Shares of Boise Cascade (NYSE:BCC) Stock

Boise Cascade, L.L.C. (NYSE:BCC) Director Kristopher Matula sold 1,930 shares of Boise Cascade stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total value of $163,239.40. Following the sale, the director directly owned 13,982 shares in the company, valued at $1,182,597.56. This trade represents a 12.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Boise Cascade Price Performance

NYSE BCC traded down $0.62 during trading hours on Thursday, reaching $84.18. The company’s stock had a trading volume of 471,367 shares, compared to its average volume of 432,752. Boise Cascade, L.L.C. has a 1 year low of $65.00 and a 1 year high of $91.97. The company has a quick ratio of 1.37, a current ratio of 2.71 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 28.53, a PEG ratio of 1.19 and a beta of 1.10. The firm’s 50-day moving average price is $74.74 and its 200-day moving average price is $76.92.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Monday, August 3rd. The construction company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.40. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.77 billion. Boise Cascade had a net margin of 1.64% and a return on equity of 5.41%. The company’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm posted $1.64 EPS. On average, equities research analysts predict that Boise Cascade, L.L.C. will post 3.83 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 1.1%. Boise Cascade’s dividend payout ratio is 29.73%.

Hedge Funds Weigh In On Boise Cascade

Institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its stake in shares of Boise Cascade by 19.8% in the 3rd quarter. Wellington Management Group LLP now owns 3,268,407 shares of the construction company’s stock worth $252,713,000 after buying an additional 539,962 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Boise Cascade by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,325,781 shares of the construction company’s stock valued at $176,410,000 after acquiring an additional 46,561 shares during the last quarter. State Street Corp lifted its holdings in shares of Boise Cascade by 0.3% in the 4th quarter. State Street Corp now owns 1,472,071 shares of the construction company’s stock valued at $108,344,000 after acquiring an additional 3,817 shares during the last quarter. Norges Bank purchased a new position in Boise Cascade in the fourth quarter worth about $42,146,000. Finally, Charles Schwab Investment Management Inc. grew its position in Boise Cascade by 12.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 507,108 shares of the construction company’s stock worth $37,323,000 after acquiring an additional 54,279 shares in the last quarter. Institutional investors own 96.18% of the company’s stock.

Wall Street Analysts Forecast Growth

BCC has been the topic of several research analyst reports. The Goldman Sachs Group boosted their price target on shares of Boise Cascade from $81.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday. Bank of America raised their price objective on Boise Cascade from $80.00 to $81.00 and gave the company an “underperform” rating in a research report on Tuesday, July 14th. DA Davidson lifted their target price on Boise Cascade from $92.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday. Weiss Ratings downgraded Boise Cascade from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Finally, Truist Financial set a $97.00 price target on Boise Cascade in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Boise Cascade has an average rating of “Hold” and a consensus target price of $93.60.

Boise Cascade Company Profile

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company’s operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.