Boise Cascade (NYSE:BCC) Declares Quarterly Dividend of $0.21

Boise Cascade (NYSE:BCC) announced a quarterly dividend on Friday, February 7th,RTT News reports. Shareholders of record on Monday, February 24th will be given a dividend of 0.21 per share by the construction company on Wednesday, March 19th. This represents a $0.84 dividend on an annualized basis and a yield of 0.68%.

Boise Cascade has increased its dividend payment by an average of 25.0% annually over the last three years. Boise Cascade has a payout ratio of 7.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Boise Cascade to earn $10.15 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 8.3%.

Boise Cascade Trading Down 1.5 %

NYSE BCC opened at $123.17 on Friday. The firm has a market capitalization of $4.73 billion, a PE ratio of 12.05 and a beta of 1.57. The business’s 50-day moving average price is $128.53 and its two-hundred day moving average price is $133.43. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. Boise Cascade has a 12 month low of $113.38 and a 12 month high of $155.42.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BCC shares. BMO Capital Markets raised their target price on Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. StockNews.com lowered shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Truist Financial lowered their price objective on shares of Boise Cascade from $161.00 to $157.00 and set a “buy” rating on the stock in a report on Monday, January 6th. The Goldman Sachs Group reduced their price objective on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Finally, Loop Capital initiated coverage on shares of Boise Cascade in a research report on Friday, November 1st. They issued a “buy” rating and a $155.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.