Boise Cascade (NYSE:BCC) Trading 5.4% Higher – Still a Buy?

Boise Cascade, L.L.C. (NYSE:BCC) shot up 5.4% on Thursday . The stock traded as high as $79.39 and last traded at $80.1030. Approximately 45,120 shares changed hands during trading, a decline of 90% from the average session volume of 429,995 shares. The stock had previously closed at $75.99.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BCC shares. Zacks Research raised Boise Cascade from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Weiss Ratings raised Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Truist Financial set a $97.00 price objective on Boise Cascade in a research note on Wednesday, May 6th. DA Davidson decreased their target price on shares of Boise Cascade from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Finally, Bank of America lifted their price target on shares of Boise Cascade from $80.00 to $81.00 and gave the company an “underperform” rating in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $92.80.

Boise Cascade Trading Up 7.0%

The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.37 and a current ratio of 2.77. The company has a market capitalization of $2.86 billion, a PE ratio of 27.49, a PEG ratio of 1.11 and a beta of 1.08. The stock has a fifty day moving average of $71.57 and a 200 day moving average of $76.83.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Monday, May 4th. The construction company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.07. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.46 billion. Boise Cascade had a net margin of 1.73% and a return on equity of 5.55%. The company’s revenue was down 2.5% on a year-over-year basis. During the same period last year, the firm posted $1.06 EPS. As a group, sell-side analysts predict that Boise Cascade, L.L.C. will post 3.67 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Monday, June 1st were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Monday, June 1st. Boise Cascade’s dividend payout ratio (DPR) is presently 29.73%.

Insider Transactions at Boise Cascade

In other Boise Cascade news, SVP Jill Twedt sold 6,070 shares of Boise Cascade stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $66.45, for a total value of $403,351.50. Following the sale, the senior vice president directly owned 26,545 shares in the company, valued at approximately $1,763,915.25. The trade was a 18.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.42% of the company’s stock.

Institutional Investors Weigh In On Boise Cascade

Several large investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its stake in Boise Cascade by 231.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock valued at $29,000 after buying an additional 259 shares during the last quarter. Fifth Third Bancorp increased its stake in Boise Cascade by 77.5% in the 4th quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock worth $30,000 after acquiring an additional 179 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Boise Cascade during the 3rd quarter worth approximately $38,000. UMB Bank n.a. boosted its position in shares of Boise Cascade by 98.5% during the 4th quarter. UMB Bank n.a. now owns 524 shares of the construction company’s stock valued at $39,000 after acquiring an additional 260 shares during the last quarter. Finally, Signaturefd LLC boosted its position in shares of Boise Cascade by 5,866.7% during the 4th quarter. Signaturefd LLC now owns 537 shares of the construction company’s stock valued at $40,000 after acquiring an additional 528 shares during the last quarter. 96.18% of the stock is owned by institutional investors.

About Boise Cascade

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.