Deltic Timber Corp. (DEL) Receives “Buy” Rating from BTIG Research
DEL has been the topic of a number of other research reports. Credit Suisse Group AG reissued a neutral rating and set a $42.00 price objective on shares of Deltic Timber Corp. in a report on Tuesday, August 16th. Stifel Nicolaus reissued a hold rating and set a $41.00 price objective (up previously from $40.00) on shares of Deltic Timber Corp. in a report on Saturday. Finally, Barclays PLC reissued an equal weight rating and set a $35.00 price objective (down previously from $37.00) on shares of Deltic Timber Corp. in a report on Sunday, July 31st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $41.93.
Shares of Deltic Timber Corp. (NYSE:DEL) traded up 0.39% during mid-day trading on Monday, hitting $66.57. The stock had a trading volume of 2,790 shares. The stock has a market cap of $808.76 million, a P/E ratio of 182.88 and a beta of 0.92. The firm has a 50 day moving average price of $69.42 and a 200-day moving average price of $66.25. Deltic Timber Corp. has a 12 month low of $50.84 and a 12 month high of $72.74.
Deltic Timber Corp. (NYSE:DEL) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.35 EPS for the quarter. Deltic Timber Corp. had a return on equity of 1.82% and a net margin of 2.18%. The firm had revenue of $56.70 million for the quarter, compared to analysts’ expectations of $45.70 million. On average, equities research analysts forecast that Deltic Timber Corp. will post $1.50 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend is Tuesday, November 29th. Deltic Timber Corp.’s payout ratio is presently 108.11%.
In other Deltic Timber Corp. news, insider Byrom Walker sold 1,199 shares of Deltic Timber Corp. stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $70.59, for a total transaction of $84,637.41. Following the completion of the transaction, the insider now owns 3,294 shares in the company, valued at $232,523.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J Thurston Roach sold 1,000 shares of Deltic Timber Corp. stock in a transaction on Friday, September 16th. The shares were sold at an average price of $70.25, for a total value of $70,250.00. Following the transaction, the director now owns 9,112 shares of the company’s stock, valued at approximately $640,118. The disclosure for this sale can be found here. 14.40% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its position in shares of Deltic Timber Corp. by 5.7% in the first quarter. Wellington Management Group LLP now owns 1,427,032 shares of the company’s stock worth $85,837,000 after buying an additional 77,011 shares during the last quarter. Chartwell Investment Partners LLC bought a new position in shares of Deltic Timber Corp. during the second quarter worth about $3,565,000. Brown Advisory Inc. boosted its position in shares of Deltic Timber Corp. by 4.6% in the second quarter. Brown Advisory Inc. now owns 498,928 shares of the company’s stock worth $33,493,000 after buying an additional 21,976 shares during the last quarter. Baird Financial Group Inc. bought a new position in shares of Deltic Timber Corp. during the second quarter worth about $1,217,000. Finally, Vanguard Group Inc. boosted its position in shares of Deltic Timber Corp. by 1.2% in the second quarter. Vanguard Group Inc. now owns 892,460 shares of the company’s stock worth $59,911,000 after buying an additional 10,675 shares during the last quarter. Institutional investors and hedge funds 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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