Boise Cascade (NYSE:BCC) Short Interest Update

Boise Cascade (NYSE:BCC) was the recipient of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 1,040,000 shares, a growth of 5.2% from the November 15th total of 988,400 shares. Approximately 2.7% of the shares of the stock are sold short. Based on an average daily volume of 288,700 shares, the days-to-cover ratio is presently 3.6 days.

Boise Cascade Stock Down 2.4 %

NYSE BCC opened at $133.04 on Wednesday. Boise Cascade has a 52 week low of $113.89 and a 52 week high of $155.42. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 13.02 and a beta of 1.53. 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 company has a fifty day moving average of $141.04 and a two-hundred day moving average of $133.87.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Monday, November 4th. The construction company reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the prior year, the firm posted $3.58 earnings per share. Boise Cascade’s revenue for the quarter was down 6.6% on a year-over-year basis. On average, analysts predict that Boise Cascade will post 9.57 earnings per share for the current year.

Boise Cascade Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be issued a $0.21 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 0.63%. Boise Cascade’s payout ratio is 8.22%.

Hedge Funds Weigh In On Boise Cascade

Several hedge funds have recently bought and sold shares of BCC. Larson Financial Group LLC grew its holdings in shares of Boise Cascade by 23.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock worth $53,000 after purchasing an additional 73 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in Boise Cascade by 4.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,757 shares of the construction company’s stock valued at $248,000 after buying an additional 78 shares during the period. SummerHaven Investment Management LLC grew its stake in Boise Cascade by 1.5% in the 2nd quarter. SummerHaven Investment Management LLC now owns 7,776 shares of the construction company’s stock worth $927,000 after acquiring an additional 113 shares in the last quarter. Miller Howard Investments Inc. NY increased its position in shares of Boise Cascade by 2.1% during the second quarter. Miller Howard Investments Inc. NY now owns 5,892 shares of the construction company’s stock worth $702,000 after acquiring an additional 124 shares during the period. Finally, First Trust Direct Indexing L.P. raised its stake in shares of Boise Cascade by 7.3% during the third quarter. First Trust Direct Indexing L.P. now owns 1,893 shares of the construction company’s stock valued at $267,000 after acquiring an additional 128 shares in the last quarter. Institutional investors own 96.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on BCC. Loop Capital assumed coverage on Boise Cascade in a report on Friday, November 1st. They set a “buy” rating and a $155.00 price target for the company. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Truist Financial increased their price objective on shares of Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. BMO Capital Markets lifted their price objective on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Finally, Bank of America upped their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research report on Thursday, September 12th. One equities research 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 MarketBeat, the stock 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.