Boise Cascade (NYSE:BCC) Short Interest Up 19.5% in December

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

Boise Cascade Trading Down 0.2 %

NYSE:BCC traded down $0.21 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. Boise Cascade has a 1-year low of $113.38 and a 1-year high of $155.42. The business’s 50-day moving average price is $133.00 and its two-hundred day moving average price is $133.16. The firm has a market cap of $4.93 billion, a PE ratio of 12.55 and a beta of 1.58. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13.

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

Boise Cascade Announces Dividend

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

Wall Street Analysts Forecast Growth

BCC has been the topic of a number of recent research reports. Truist Financial reduced their price objective on shares of Boise Cascade from $161.00 to $157.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. The Goldman Sachs Group reduced their price target on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. BMO Capital Markets raised their target price on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Finally, Loop Capital initiated coverage on Boise Cascade in a research note on Friday, November 1st. They issued a “buy” rating and a $155.00 price target for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $139.60.

Institutional Investors Weigh In On Boise Cascade

Institutional investors have recently added to or reduced their stakes in the stock. Westwood Holdings Group Inc. raised its stake in shares of Boise Cascade by 107.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company’s stock valued at $133,278,000 after purchasing an additional 579,759 shares during the period. Marshall Wace LLP grew its holdings in shares of Boise Cascade by 2,978.4% during the second quarter. Marshall Wace LLP now owns 191,047 shares of the construction company’s stock worth $22,777,000 after buying an additional 184,841 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake in Boise Cascade by 46.0% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company’s stock valued at $45,661,000 after acquiring an additional 120,600 shares in the last quarter. Bank of Montreal Can boosted its position in Boise Cascade by 1,597.4% during the 3rd quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock worth $17,907,000 after acquiring an additional 119,103 shares during the last quarter. Finally, FMR LLC grew its stake in shares of Boise Cascade by 158.9% during the 3rd quarter. FMR LLC now owns 126,123 shares of the construction company’s stock worth $17,781,000 after acquiring an additional 77,401 shares in the last quarter. 96.18% of the stock is owned by institutional investors.

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.