Boise Cascade (NYSE:BCC) Hits New 52-Week Low – Time to Sell?

Boise Cascade (NYSE:BCC)’s stock price hit a new 52-week low during trading on Monday . The company traded as low as $89.10 and last traded at $92.25, with a volume of 107918 shares traded. The stock had previously closed at $95.44.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Truist Financial dropped their price objective on Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Loop Capital lowered their price objective on Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, February 24th. DA Davidson dropped their price objective 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. The Goldman Sachs Group decreased their price objective on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Finally, BMO Capital Markets decreased their price target on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $128.50.

Boise Cascade Stock Performance

The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of 10.32 and a beta of 1.52. The firm’s 50-day moving average is $105.88 and its two-hundred day moving average is $124.67.

Boise Cascade (NYSE:BCC) last released its earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.01). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.57 billion. As a group, sell-side analysts expect that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, February 24th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.84 annualized dividend and a dividend yield of 0.85%. Boise Cascade’s dividend payout ratio is presently 8.79%.

Insider Activity

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was 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 owns 13,099 shares of the company’s stock, valued at $1,351,292.84. This trade represents a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey Robert Strom sold 4,500 shares of the company’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 directly owns 38,026 shares in the company, valued at approximately $3,810,585.46. This trade 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.

Hedge Funds Weigh In On Boise Cascade

A number of hedge funds have recently made changes to their positions in BCC. R Squared Ltd acquired a new stake in Boise Cascade during the 4th quarter worth approximately $29,000. Quarry LP grew its stake in Boise Cascade by 502.4% during the 4th quarter. Quarry LP now owns 253 shares of the construction company’s stock worth $30,000 after buying an additional 211 shares during the last quarter. Principal Securities Inc. increased its position in Boise Cascade by 44.2% during the fourth quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock worth $56,000 after buying an additional 145 shares during the period. Smartleaf Asset Management LLC lifted its stake in Boise Cascade by 254.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company’s stock valued at $92,000 after buying an additional 558 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in shares of Boise Cascade by 234.2% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,270 shares of the construction company’s stock valued at $179,000 after acquiring an additional 890 shares during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.

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.