Short Interest in Boise Cascade (NYSE:BCC) Rises By 19.5%

Boise Cascade (NYSE:BCC) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totalling 1,150,000 shares, a growth of 19.5% from the December 15th total of 962,300 shares. Currently, 3.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 269,000 shares, the short-interest ratio is currently 4.3 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BCC. Harbor Capital Advisors Inc. bought a new stake in shares of Boise Cascade in the 3rd quarter worth $28,000. Larson Financial Group LLC boosted its stake in shares of Boise Cascade by 23.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock valued at $53,000 after buying an additional 73 shares during the period. CWM LLC increased its holdings in Boise Cascade by 26.5% in the third quarter. CWM LLC now owns 673 shares of the construction company’s stock worth $95,000 after buying an additional 141 shares during the last quarter. Covestor Ltd lifted its position in shares of Boise Cascade by 50.1% in the third quarter. Covestor Ltd now owns 689 shares of the construction company’s stock worth $97,000 after buying an additional 230 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of Boise Cascade by 19.0% during the 3rd quarter. KBC Group NV now owns 1,226 shares of the construction company’s stock worth $173,000 after buying an additional 196 shares during the period. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Trading Down 0.2 %

Shares of NYSE:BCC traded down $0.21 during midday trading on Friday, reaching $128.25. The company’s stock had a trading volume of 486,114 shares, compared to its average volume of 306,713. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of 12.55 and a beta of 1.58. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average price of $133.00 and a 200 day moving average price of $133.16. Boise Cascade has a 1 year low of $113.38 and a 1 year high of $155.42.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Monday, November 4th. The construction company reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the prior year, the business earned $3.58 EPS. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. Research analysts forecast that Boise Cascade will post 9.6 EPS for the current year.

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.84 annualized dividend and a yield of 0.65%. Boise Cascade’s payout ratio is 8.22%.

Analysts Set New Price Targets

BCC has been the subject of several analyst reports. BMO Capital Markets upped their target price on Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Loop Capital initiated coverage on Boise Cascade in a research note on Friday, November 1st. They set a “buy” rating and a $155.00 target price on the stock. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group decreased their price objective on 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, Truist Financial lowered their price target on Boise Cascade from $161.00 to $157.00 and set a “buy” rating for the company in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $139.60.

Boise Cascade Company Profile

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.