Boise Cascade (NYSE:BCC) Announces Dividend Increase – $0.21 Per Share

Boise Cascade (NYSE:BCC) declared a quarterly dividend on Thursday, August 1st, Wall Street Journal reports. Shareholders of record on Tuesday, September 3rd will be paid a dividend of 0.21 per share by the construction company on Monday, September 16th. This represents a $0.84 annualized dividend and a yield of 0.65%. The ex-dividend date is Tuesday, September 3rd. This is an increase from Boise Cascade’s previous quarterly dividend of $0.20.

Boise Cascade has increased its dividend payment by an average of 20.5% per year over the last three years. Boise Cascade has a dividend payout ratio of 7.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Boise Cascade to earn $11.27 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 7.1%.

Boise Cascade Price Performance

Shares of NYSE:BCC opened at $128.89 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.24 and a quick ratio of 2.05. Boise Cascade has a 1-year low of $87.32 and a 1-year high of $154.67. The company has a market capitalization of $5.09 billion, a P/E ratio of 10.48 and a beta of 1.50. The firm’s 50 day simple moving average is $128.36 and its two-hundred day simple moving average is $134.69.

Boise Cascade (NYSE:BCC) last released its earnings results on Monday, May 6th. The construction company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.30 by $0.31. Boise Cascade had a net margin of 7.08% and a return on equity of 22.00%. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the firm earned $2.43 earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. Research analysts expect that Boise Cascade will post 10.41 EPS for the current fiscal year.

Insider Buying and Selling at Boise Cascade

In other Boise Cascade news, SVP Jill Twedt sold 1,852 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $135.00, for a total transaction of $250,020.00. Following the transaction, the senior vice president now owns 37,437 shares in the company, valued at $5,053,995. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Jill Twedt sold 1,852 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $135.00, for a total value of $250,020.00. Following the transaction, the senior vice president now directly owns 37,437 shares in the company, valued at $5,053,995. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jeffrey Robert Strom sold 2,500 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $135.00, for a total transaction of $337,500.00. Following the completion of the transaction, the executive vice president now owns 43,353 shares in the company, valued at $5,852,655. The disclosure for this sale can be found here. Company insiders own 0.98% of the company’s stock.

Analyst Upgrades and Downgrades

BCC has been the topic of a number of recent research reports. Truist Financial decreased their price target on shares of Boise Cascade from $175.00 to $159.00 and set a “buy” rating on the stock in a research note on Tuesday, July 16th. The Goldman Sachs Group decreased their price target on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, StockNews.com raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $126.00.

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.