Boise Cascade (NYSE:BCC) Short Interest Up 40.5% in November

Boise Cascade (NYSE:BCC – Get Rating) was the target of a significant spike in short interest in the month of November. As of November 30th, there was short interest totaling 1,030,000 shares, an increase of 40.5% from the November 15th total of 733,200 shares. Currently, 2.7% of the company’s shares are short. Based on an average daily trading volume of 253,700 shares, the short interest rate ratio is currently 4.1 days.

Analyst upgrades and downgrades

Several equity analysts recently commented on the company. Goldman Sachs Group raised its target price on Boise Cascade to $72.00 from $64.00 and rated the company as “neutral” in a research report on Thursday, November 3. downgraded shares of Boise Cascade from a “strong buy” rating to a “buy” rating in a research note on Saturday, November 19. Finally, on Thursday, October 13, Bank of America downgraded shares of Boise Cascade from a “neutral” rating to an “underperform” rating in a research note. One research analyst has rated the stock with a sell rating, three have given it a hold rating and two have given it a buy rating. According to data from, the company currently has an average rating of “Hold” and an average price target of $73.25.

Institutional inflows and outflows

A number of hedge funds have recently changed their positions in the business. Bank of New York Mellon Corp increased its holdings of Boise Cascade stock by 1.8% in the third quarter. Bank of New York Mellon Corp now owns 544,382 shares of the construction company’s stock valued at $32,369,000 after buying another 9,412 shares last quarter. Robeco Institutional Asset Management BV increased its stake in Boise Cascade by 12.1% in the third quarter. Robeco Institutional Asset Management BV now owns 26,618 shares in the construction company, valued at $1,582,000, after buying a further 2,876 shares last quarter. Toroso Investments LLC acquired a new position in Boise Cascade valued at approximately $1,287,000 during the third quarter. B. Riley Wealth Advisors Inc. increased its stake in Boise Cascade by 26.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 6,734 shares of the builder’s stock, valued at $401,000, after purchasing an additional 1,428 shares last quarter. Finally, the Kentucky State Teachers Retirement System acquired a new position in Boise Cascade valued at approximately $1,545,000 during the third quarter. 93.66% of the shares are currently owned by institutional investors and hedge funds.

Boise Cascade stock down 1.0%

BCC fell $0.76 on Wednesday midday to reach $72.00. The company had a trading volume of 314,828 shares compared to its average volume of 352,326. Boise Cascade has a 52-week low of $55.14 and a 52-week high of $85.17. The company has a quick ratio of 1.91, a current ratio of 2.95 and a debt to equity ratio of 0.24. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 3.18, a PEG ratio of 1.45 and a beta of 1.55. The 50-day moving average price of the stock is $67.98 and the 200-day moving average price is $66.60.

Boise Cascade (NYSE:BCC – Get Rating) last issued its quarterly earnings results on Tuesday, November 1st. The construction company reported earnings per share of $5.52 for the quarter, beating the consensus estimate of $4.45 by $1.07. The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.03 billion. Boise Cascade had a net margin of 10.65% and a return on equity of 53.89%. The company’s revenue increased 14.6% compared to the prior-year quarter. For the same period last year, the company posted earnings per share of $2.31. On average, research analysts expect Boise Cascade to report earnings per share of 21.62 for the current fiscal year.

Boise Cascade raises dividend

The company also recently announced a none-dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1 will be paid a dividend of $1.15 per share. This is an increase from Boise Cascade’s previous none-dividend of $0.12. This corresponds to a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday November 30th. Boise Cascade’s dividend payout ratio (DPR) is currently 2.62%.

Boise Cascade Company Profile

(received rating)

The Boise Cascade Company manufactures wood products and sells building materials throughout 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-beams for residential and commercial floor and roof systems and other structural applications; structural, optical and industrial plywood panels; and wood products made from ponderosa pine.

Further reading

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