Insider Selling: Boise Cascade (NYSE:BCC) COO Sells 1,000 Shares of Stock

Boise Cascade, L.L.C. (NYSE:BCC) COO Jeffrey Robert Strom sold 1,000 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $91.06, for a total transaction of $91,060.00. Following the completion of the sale, the chief operating officer owned 37,026 shares in the company, valued at approximately $3,371,587.56. The trade was a 2.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Boise Cascade Price Performance

Shares of NYSE BCC traded down $0.95 during mid-day trading on Tuesday, hitting $89.03. 360,425 shares of the company’s stock traded hands, compared to its average volume of 357,919. The company’s 50-day moving average is $87.08 and its two-hundred day moving average is $93.50. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.96 and a quick ratio of 1.54. The company has a market capitalization of $3.32 billion, a P/E ratio of 13.07, a PEG ratio of 5.43 and a beta of 1.28. Boise Cascade, L.L.C. has a 1 year low of $80.01 and a 1 year high of $155.42.

Boise Cascade (NYSE:BCC) last announced its earnings results on Monday, August 4th. The construction company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.05). The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Boise Cascade had a net margin of 4.00% and a return on equity of 12.26%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.84 earnings per share. On average, equities analysts anticipate that Boise Cascade, L.L.C. will post 10.15 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd will be given a $0.22 dividend. This is an increase from Boise Cascade’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.88 dividend on an annualized basis and a yield of 1.0%. Boise Cascade’s dividend payout ratio is currently 12.33%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. DA Davidson reduced their price objective on shares of Boise Cascade from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, July 18th. Bank of America reduced their target price on shares of Boise Cascade from $111.00 to $107.00 and set a “buy” rating on the stock in a research report on Wednesday, July 9th. BMO Capital Markets reduced their target price on shares of Boise Cascade from $114.00 to $108.00 and set a “market perform” rating on the stock in a research report on Thursday, August 7th. Finally, Truist Financial reduced their target price on shares of Boise Cascade from $106.00 to $101.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.83.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of Wyoming acquired a new position in Boise Cascade during the second quarter valued at $314,000. Westwood Holdings Group Inc. lifted its position in Boise Cascade by 9.7% during the second quarter. Westwood Holdings Group Inc. now owns 1,645,026 shares of the construction company’s stock valued at $142,821,000 after purchasing an additional 145,721 shares during the period. Caxton Associates LLP raised its position in shares of Boise Cascade by 30.5% in the second quarter. Caxton Associates LLP now owns 18,646 shares of the construction company’s stock worth $1,619,000 after acquiring an additional 4,353 shares during the period. Public Sector Pension Investment Board raised its position in shares of Boise Cascade by 5.3% in the second quarter. Public Sector Pension Investment Board now owns 128,320 shares of the construction company’s stock worth $11,141,000 after acquiring an additional 6,489 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of Boise Cascade by 199.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,967 shares of the construction company’s stock worth $431,000 after acquiring an additional 3,306 shares during the period. 96.18% of the stock is currently owned by institutional investors and hedge funds.

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.