Deltic Timber Corp. (DEL) Stock Rating Reaffirmed by Stifel Nicolaus
Deltic Timber Corp. (NYSE:DEL)‘s stock had its “hold” rating reaffirmed by stock analysts at Stifel Nicolaus in a research note issued on Saturday. They currently have a $41.00 target price on the stock, up from their prior target price of $40.00. Stifel Nicolaus’ target price points to a potential downside of 37.34% from the stock’s previous close.
A number of other equities analysts have also recently weighed in on the company. Barclays PLC reaffirmed an “equal weight” rating and issued a $35.00 price target (down previously from $37.00) on shares of Deltic Timber Corp. in a report on Sunday, July 31st. Credit Suisse Group AG reaffirmed a “neutral” rating and issued a $42.00 price target on shares of Deltic Timber Corp. in a report on Tuesday, August 16th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $41.21.
Shares of Deltic Timber Corp. (NYSE:DEL) opened at 65.43 on Friday. The company’s 50 day moving average price is $69.51 and its 200-day moving average price is $66.11. Deltic Timber Corp. has a 52 week low of $50.84 and a 52 week high of $72.74. The company has a market capitalization of $794.91 million, a price-to-earnings ratio of 179.75 and a beta of 0.92.
Deltic Timber Corp. (NYSE:DEL) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.35 earnings per share for the quarter. The company earned $56.70 million during the quarter, compared to analysts’ expectations of $45.70 million. Deltic Timber Corp. had a return on equity of 1.82% and a net margin of 2.18%. Analysts anticipate that Deltic Timber Corp. will post $1.50 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a $0.10 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $0.40 annualized dividend and a yield of 0.61%. Deltic Timber Corp.’s payout ratio is 108.11%.
In related news, CFO Kenneth Dewayne Mann sold 3,323 shares of the stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $70.50, for a total value of $234,271.50. Following the completion of the transaction, the chief financial officer now directly owns 27,939 shares in the company, valued at $1,969,699.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Madison Murphy acquired 4,389 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was acquired at an average price of $45.34 per share, with a total value of $198,997.26. The disclosure for this purchase can be found here. 14.40% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Teacher Retirement System of Texas raised its position in shares of Deltic Timber Corp. by 13.2% in the second quarter. Teacher Retirement System of Texas now owns 1,568 shares of the company’s stock valued at $105,000 after buying an additional 183 shares during the last quarter. Mason Street Advisors LLC acquired a new position in shares of Deltic Timber Corp. during the second quarter valued at $140,000. Kernodle & Katon Asset Management Group LLC acquired a new position in shares of Deltic Timber Corp. during the second quarter valued at $157,000. BNP Paribas Arbitrage SA raised its position in shares of Deltic Timber Corp. by 121.1% in the second quarter. BNP Paribas Arbitrage SA now owns 3,336 shares of the company’s stock valued at $224,000 after buying an additional 1,827 shares during the last quarter. Finally, Capstone Asset Management Co. raised its position in shares of Deltic Timber Corp. by 14.7% in the second quarter. Capstone Asset Management Co. now owns 4,993 shares of the company’s stock valued at $335,000 after buying an additional 640 shares during the last quarter. Institutional investors own 82.05% of the company’s stock.
About Deltic Timber Corp.
Deltic Timber Corporation is a vertically integrated natural resources company. The Company is engaged in the growing and harvesting of timber and the manufacturing and marketing of lumber and medium density fiberboard (MDF). It operates through four segments: Woodlands, which manages all aspects of its timberlands, including harvesting and sale of timber, timberland sales and acquisitions, oil and gas revenues, timberland management and leasing of hunting land; Manufacturing, which consists of its approximately two sawmills that manufacture a range of softwood lumber products and the Del-Tin Fiber plant that produces MDF; Real Estate, which includes the Company’s approximately four real estate developments and a related country club operation, and Corporate, which consists of executive management and the staff functions.
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