Deltic Timber Corp. (DEL) Receives Outperform Rating from Oppenheimer Holdings Inc.
Oppenheimer Holdings Inc. reissued their outperform rating on shares of Deltic Timber Corp. (NYSE:DEL) in a research note issued to investors on Friday. They currently have a $48.00 price target on the stock, down from their prior price target of $49.00.
Several other research firms also recently issued reports on DEL. Credit Suisse Group AG reissued a neutral rating and issued a $42.00 target price on shares of Deltic Timber Corp. in a research report on Tuesday, August 16th. Barclays PLC reissued an equal weight rating and issued a $35.00 target price (down from $37.00) on shares of Deltic Timber Corp. in a research report on Sunday, July 31st. Bank of America Corp. raised Deltic Timber Corp. from an underperform rating to a neutral rating in a research report on Wednesday, October 12th. BMO Capital Markets reissued a market perform rating and issued a $37.00 target price on shares of Deltic Timber Corp. in a research report on Wednesday, October 12th. Finally, BTIG Research reissued a buy rating and issued a $52.00 target price on shares of Deltic Timber Corp. in a research report on Monday, October 10th. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $42.27.
Deltic Timber Corp. (NYSE:DEL) traded down 0.4871% during trading on Friday, reaching $63.3101. The company had a trading volume of 1,543 shares. The firm has a market capitalization of $769.15 million, a P/E ratio of 173.9288 and a beta of 0.92. The stock has a 50 day moving average price of $68.74 and a 200 day moving average price of $66.26. Deltic Timber Corp. has a 52 week low of $50.84 and a 52 week high of $72.74.
Deltic Timber Corp. (NYSE:DEL) last released its earnings results on Wednesday, July 27th. The company reported $0.35 earnings per share (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 the consensus estimate of $45.70 million. Analysts predict that Deltic Timber Corp. will post $1.50 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders 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 yield of 0.63%. The ex-dividend date is Tuesday, November 29th. Deltic Timber Corp.’s dividend payout ratio (DPR) is 108.11%.
In other Deltic Timber Corp. news, insider Byrom Walker sold 1,199 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $70.59, for a total value of $84,637.41. Following the transaction, the insider now directly owns 3,294 shares of the company’s stock, valued at approximately $232,523.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kent L. Streeter sold 7,516 shares of the firm’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $69.98, for a total transaction of $525,969.68. Following the completion of the transaction, the vice president now directly owns 16,050 shares in the company, valued at $1,123,179. The disclosure for this sale can be found here. 14.40% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DEL. Teacher Retirement System of Texas raised its position in 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 worth $105,000 after buying an additional 183 shares during the period. Mason Street Advisors LLC acquired a new position in Deltic Timber Corp. during the second quarter worth $140,000. Kernodle & Katon Asset Management Group LLC acquired a new position in Deltic Timber Corp. during the second quarter worth $157,000. BNP Paribas Arbitrage SA raised its position in Deltic Timber Corp. by 121.1% in the second quarter. BNP Paribas Arbitrage SA now owns 3,336 shares of the company’s stock worth $224,000 after buying an additional 1,827 shares during the period. Finally, Capstone Asset Management Co. raised its position in Deltic Timber Corp. by 14.7% in the second quarter. Capstone Asset Management Co. now owns 4,993 shares of the company’s stock worth $335,000 after buying an additional 640 shares during the period. 82.03% of the stock is currently owned by institutional investors and hedge funds.
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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