Deltic Timber Corp. (DEL) Downgraded to “Underperform” at BMO Capital Markets
Deltic Timber Corp. (NYSE:DEL) was downgraded by stock analysts at BMO Capital Markets from a “market perform” rating to an “underperform” rating in a research note issued to investors on Monday. They presently have a $33.00 target price on the stock. BMO Capital Markets’ price objective suggests a potential downside of 52.18% from the company’s previous close.
Other equities analysts also recently issued research reports about the stock. Credit Suisse Group AG reaffirmed a “neutral” rating and set a $42.00 price target on shares of Deltic Timber Corp. in a research note on Tuesday, August 16th. Stephens assumed coverage on shares of Deltic Timber Corp. in a research note on Tuesday, November 1st. They set an “equal weight” rating and a $49.00 price target for the company. Barclays PLC reaffirmed an “equal weight” rating and set a $35.00 price target on shares of Deltic Timber Corp. in a research note on Thursday, October 13th. BTIG Research reaffirmed a “buy” rating and set a $52.00 price target on shares of Deltic Timber Corp. in a research note on Monday, October 10th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $41.00 price target (up previously from $40.00) on shares of Deltic Timber Corp. in a research note on Saturday, October 8th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $42.44.
Deltic Timber Corp. (NYSE:DEL) traded up 0.06% during midday trading on Monday, reaching $69.09. 15,914 shares of the company traded hands. The company has a 50 day moving average of $62.62 and a 200-day moving average of $66.22. The stock has a market capitalization of $839.93 million, a P/E ratio of 142.16 and a beta of 0.93. 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 released its quarterly earnings results on Wednesday, October 26th. The company reported $0.12 earnings per share (EPS) for the quarter. The firm earned $53.50 million during the quarter, compared to the consensus estimate of $50.15 million. Deltic Timber Corp. had a net margin of 2.84% and a return on equity of 2.44%. Equities analysts anticipate that Deltic Timber Corp. will post $1.50 EPS for the current fiscal year.
The firm also recently disclosed 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 dividend yield of 0.58%. The ex-dividend date of this dividend is Tuesday, November 29th. Deltic Timber Corp.’s dividend payout ratio (DPR) is 81.63%.
In other Deltic Timber Corp. news, Director Robert Calvert Nolan acquired 5,000 shares of the company’s stock in a transaction on Monday, November 7th. The shares were purchased at an average cost of $56.80 per share, with a total value of $284,000.00. Following the completion of the purchase, the director now owns 85,461 shares of the company’s stock, valued at $4,854,184.80. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Kent L. Streeter sold 7,516 shares of the firm’s stock in a transaction on Friday, September 16th. The shares were 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.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Investment Management LLC raised its position in Deltic Timber Corp. by 7.2% in the second quarter. BlackRock Investment Management LLC now owns 45,657 shares of the company’s stock worth $3,065,000 after buying an additional 3,064 shares during the period. BlackRock Advisors LLC raised its position in Deltic Timber Corp. by 2.8% in the second quarter. BlackRock Advisors LLC now owns 5,307 shares of the company’s stock worth $356,000 after buying an additional 144 shares during the period. Vanguard Group Inc. raised its position in 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 period. Principal Financial Group Inc. raised its position in Deltic Timber Corp. by 2.7% in the second quarter. Principal Financial Group Inc. now owns 75,194 shares of the company’s stock worth $5,048,000 after buying an additional 1,975 shares during the period. Finally, Brown Advisory Inc. raised its position in 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 period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.
Deltic Timber Corp. Company Profile
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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