BTIG Research Reaffirms “Buy” Rating for Deltic Timber Corp. (DEL)
Deltic Timber Corp. (NYSE:DEL)‘s stock had its “buy” rating reaffirmed by BTIG Research in a research note issued on Monday. They currently have a $52.00 price target on the stock. BTIG Research’s price objective suggests a potential downside of 20.53% from the stock’s previous close.
DEL has been the subject of several other research reports. Barclays PLC reiterated an “equal weight” rating and set a $35.00 price objective (down previously from $37.00) on shares of Deltic Timber Corp. in a research report on Sunday, July 31st. Stifel Nicolaus reiterated a “hold” rating and set a $41.00 price objective (up previously from $40.00) on shares of Deltic Timber Corp. in a research report on Saturday. Finally, Credit Suisse Group AG reiterated a “neutral” rating and set a $42.00 price objective on shares of Deltic Timber Corp. in a research report on Tuesday, August 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $41.93.
Shares of Deltic Timber Corp. (NYSE:DEL) traded up 0.84% during midday trading on Monday, hitting $65.98. 3,346 shares of the stock were exchanged. Deltic Timber Corp. has a 12 month low of $50.84 and a 12 month high of $72.74. The firm has a 50 day moving average of $69.51 and a 200-day moving average of $66.11. The stock has a market cap of $801.59 million, a P/E ratio of 181.26 and a beta of 0.92.
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Deltic Timber Corp. (NYSE:DEL) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.35 EPS for the quarter. Deltic Timber Corp. had a net margin of 2.18% and a return on equity of 1.82%. The business earned $56.70 million during the quarter, compared to analyst estimates of $45.70 million. Equities research analysts anticipate that Deltic Timber Corp. will post $1.50 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.61%. The ex-dividend date is Tuesday, November 29th. Deltic Timber Corp.’s dividend payout ratio is presently 108.11%.
In related news, VP Kent L. Streeter sold 7,516 shares of the firm’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $69.98, for a total value of $525,969.68. Following the transaction, the vice president now owns 16,050 shares of the company’s stock, valued at approximately $1,123,179. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Madison Murphy purchased 4,389 shares of Deltic Timber Corp. stock in a transaction that occurred on Tuesday, August 9th. The stock was bought at an average cost of $45.34 per share, for a total transaction of $198,997.26. The disclosure for this purchase can be found here. 14.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Prudential Financial Inc. increased its position in Deltic Timber Corp. by 8.5% in the first quarter. Prudential Financial Inc. now owns 27,933 shares of the company’s stock worth $1,680,000 after buying an additional 2,200 shares during the period. Wellington Management Group LLP increased its position in 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 period. Chartwell Investment Partners LLC acquired a new position in Deltic Timber Corp. during the second quarter worth approximately $3,565,000. BNP Paribas Arbitrage SA increased 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, Brown Advisory Inc. increased 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. 82.05% 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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